Leverage the YFI treasury to fund the necessary contract deployments to get YFI listed on Compound, as well as the 100 COMP necessary to create a Compound autonomous proposal.
Additionally, leverage the reach of the Yearn socials to rally community support for the proposal by delegating COMP.
In order to get YFI listed on Compound, the following is required:
- YFI integrated into Coinbase open price feed (not done, but could be with community support)
- Deployment of new Compound price feed view contract with YFI support
- Deployment of cYFI
- Deployment of cYFI interest rate
- Purchase of 100 COMP & deployment of autonomous proposal to add cYFI to Compound
- Take steps necessary to count cYFI in governance
The YFI on-chain market can benefit from Compound support through the ability to use YFI as collateral for taking leveraged longs, securing other positions, and earning interest. It can also be beneficial for long-term price discovery of YFI to allow traders to short it on-chain.
Additionally, the ability to earn interest and COMP on lent YFI could potential further reduce circulating supply and increase scarcity.
[WIP – further research required. summary of technical requirements above. ]
For: The community should begin to investigate the steps necessary to get YFI listed on Compound, and commit to funding any expense necessary (estimated ~10,000-15,000 yUSD).
Against: The community should not spend time or resources on a Compound YFI listing.