Request for comments: Use DeFi to save the world

I would prefer to have an @andre.cronje clause.

Proposal:

Andre gets a certain % of earnings for yearn for life.

He deserves it.

Then he can do whatever he wants with the earnings. Likely this means donating to awesome causes and supporting great builders.

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Hmm, I think there may have been some miscommunication. I’m not against giving money to Gitcoin, and for now it’s the most mature solution for distributing donations. I’m saying that the percentage of income donated should increase as TVL increases.

What do you mean by “it” here? If you’re referring to donating to WhalerDAO instead of Gitcoin, then I agree with you. WhalerDAO is for advocates and builders, not for distributing donations. If you’re referring to increasing the percentage of income donated, can you elaborate on your reasoning why you think 1% is enough?

For a frame of reference, “the 20 richest Americans donated roughly $8.7 billion to charity in 2018, just 0.8 percent of their collective net worth” (source). And that’s 0.8% of their wealth, not income; let’s say they donate 8% of their income. That means donating 1% of income makes yEarn less charitable than billionaires, who are not really the most charitable people in the world.

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LOL I’m down for that. When Gucci ready?

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It’s great to want to donate to charities that speak to you. Individuals should do that of their own accord from their earnings, not at a protocol level.

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Hell no, this world is being f by every industry and every big company, the hell with this relate to DeFi or YFI

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Charities are good and all. But y’all need to relax and slow down a bit with this. Gitcoin donation was passed by governance. Let that not be a sign that governance will accept and approve all donation requests in the future. Don’t want to sound a bit harsh here, but this is similar to when we started vaults for a couple of coins, people started putting up proposals for every erc20 token that exists.

Slow down. I suggest we reconsider this once we’ve hit $10 billion in TVL.

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I decline to donate to any other causes from my governance fees. I love the gitcoin move. I donate a lot to charity and would like that to be a personal choice. I do not want this.

I am happy to change the crypto world with gitcoin, and any more world saving I desire for that to remain a personal choice.

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Yeah that was me haha :slight_smile: actually I respect a lot that they were declined.

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Yearn was launched in the spirit of giving, of passing future excess into the hands of the community, i think broadening the tent to look at who our community encompasses needs the perspective of the future.

I like the opt in vaults direction or rewards delegation, give each individual the power to control, excited to see where this goes.

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No, it wouldn’t. Value needs to accrue to the token. You cant keep shaving off profits for every little thing.

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Yah I think yall are wrongly accusing him here…

What about supporting in the future projects that are incorporating Crypto and blockchain to do good? Three examples:

The sun exchange
Invest in solar panels that are leased by schools and institutions in emerging markets, get ROI in Bitcoin.
This project is supported by Max Keiser, a fierce advocate of BTC

Regen network
Blockchain based tools to facilitate ecological regeneration.
Uses Tendermint.

Althea network
Let people set up local ISPs in their communities.
Great for rural areas!

https://althea.net

And there is many more

I like the concept of bring more public good via the profits that Yearn creates - however this is not the right approach in my opinion.

What I think would be better suited would be to vote on some real charities that exist today that have been vetted as using the funds for the stated purpose and not a corporation is disguise. We could have a pre determined amount that is given every month to a different charity every month or quarter. This would in turn help raise the profile of Yearn, DeFi and what we are trying to do in this cryptospace as a whole.

I would love to hear about the news that charities are being funded by community driven protocols.

So I am for the public good as like the gitcoin grants, but I think a direct relationship to co-brand the event and paid directly from protocol would be most ideal. This also forces the charities to interact with our world bringing in new participants and interests.

Ted

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To be clear, I think Zefram’s proposal does focus on existing charities. He’s not seeking donations to WhalerDAO. He’s encouraging existing donations to places like the Against Malaria Foundation and the Clean Air Task Force. The Against Malaria Foundation, for example, has been heavily vetted by GiveWell, and you can see where their funds are going + what they do.

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I love regen network! If we could do something with them that would be awesome.

These corrupt NGO’s is not something i want to be a part of. However when the time comes when there is a blockchain based charity with full transparency i would be more open to it. Gitcoin grants however, we should definately contribute to the ecosystem we all wish shall prosper going forward.

I’m immensly in favor of charitable donations from a portion of YFI profits. However, i think this is putting the cart before the horse, as donations from YFI holders will scale with building-out yearn’s ecosystem.

Another thought - is there any community interest in a profit-splitting vault? For example, 50% of the profits go to the LP providers, 50% to charity chosen by governance or the LP strategist?

Edit - Andre a step ahead…

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You could ask someone to post a proposal with his username under a demo space (like this one https://demo.snapshot.page/#/dai) this will attest his wallet address. Would that work? In future we plan on adding “attestations” feature, to link address to social accounts, forum, github account etc.

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Hey all,

Just a heads-up that Zefram and I are working on a separate project to address the issue of funding good with DeFi.

We’re still both participating in yearn, of course, and we want to support this ecosystem as well. We’ll be launching later this month, and we plan to support a mix of tokens for farming, including several yAssets.

Contracts are here, write-ups and other things are still in the works.

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How about we donate it to support awesome defi projects that are not taking outside funding? (similar to how yearn was launched :))