Support and governance separation

Summary:

As a noob crypto user i feel there’s no space for those who would like to support the comunity, earn fee for the support but lack knowlege to vote in governance. Outcome: Split YFI into 2 tokens gYFi for governance and sYFI for support. (names are just to understand concept)

Abstract:

The idea will be to split 1 YFI in 0.5 gYFI and 0.5 sYFI.
This way those who feel they are not capable to govern because of lack of knowledge but still want to participate could hold sYFI to earn fees and those who want to vote could use gYFI to vote the proposals. gYFI token could be “asignable” this way: if I know someone with sufficient knowledge to vote I could assign mi share gYFI knowing it’s in good hands and make him/her a representative of my vote.

Motivation:

The problem as stated at the begginig is the lack of space for those who want this community to grow, but have a full time job outside crypto, familly, university or even holiday, etc and can’t or won’t catch up with governance, but still feel that the space will grow and want to participate in some way or trust the space and want to make some earnings. It could also simplify vote if the discussion goes to “Designated representatives” who will act in the share holders best intrests.

Specification:

1YFI = 0.5 gYFI and 0.5 sYFI

gYFI used to govern, could be delegated to a representative member (implemented in L2 to avoid gas dependent governance optional)

sYFI used to earn fees

For: Split Support space from Governance space

Against: Mantain a closed space only for those who have technical knowledge

Poll:

This idea is kind of like allowing delegated voting. I’m not sure we need to have another token for this though?

Can you delegate a vote and still earn fees as a YFI holder?

I don’t think we should be changing a system that has been working great, just read the summary of the yip before you vote if you don’t have much time. I’m always working but also helping the social channel as well and can’t read every comment. I’m starting to now on my new account vs ghosting on my old one as I don’t want to break a working system.

There’s even articles about us complimenting our current community. Let’s not make this convoluted.

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Agree with @Whatanoob. The idea behind the community owning $YFI is being incentivized to vote and the current system achieves that in a simple way. People that own a significant amount of YFI and understand what’s going on should put in the work to read and vote. yVaults are great for those looking for good passive returns.

4 Likes