Update yyCRV strategy to participate in Curve DAO
Deploy a new yyCRV strategy that adds a percentage based amount of CRV used for governance instead of selling for profit.
On 31/08/2020 18:08:47 the vote will close to add yVault to Curve DAO. This will allow yyCRV to participate and shape the Curve ecosystem.
The current vote can be found here; https://dao.curve.fi/vote/ownership/2
To ensure the continued success of yVault participation we propose adding a percentage of the farmed CRV to the vaults voting weight. Doing so also prohibits opportunistic farmers that have no intention of participating in governance from participating in yVault.
At this time, it is unknown what a good percentage would be to balance between voting weight vs 2.5x CRV boost vs ROI. As such, we propose to make this configurable and set an initial weight, based on the vote.
Currently yVault earns 78,792 CRV per day. Our veCRV target for 2.5x boost is ~150k. We suggest starting with a higher percentage to reach this number faster, and subsequently decrease from there.
Switch to the proposed strategy and enable the % fee
We will also be testing our new off-chain voting, built by https://balancer.finance/ as a signalling system. You can vote below with your governance locked YFI