Yearn Retention Packages
As per YIP-57: Funding Yearn’s Future, a Compensation Working Group has been tasked with allocating up to 2,333 YFI (2,222 with 5% margin) to retain key contributors.
Here is the relevant part of the spec:
The Compensation Working Group was approved by the multisig and is composed of:
The CWG has completed its work after conducting multiple interviews with team and community. Here is the result, which has been approved by the multisig and communicated directly to each recipient.
Total YFI Allocated to Retention: 2,317
- Yearn Treasury has a right of first refusal to buy back YFI at the prevailing market rate at that point from team members who wish to sell. The purpose of this is to limit the amount of vesting YFI reaching the open market.
- For a vesting package to activate, a recipient will need to sign an agreement with their private key, outlining the full terms in more detail.
- Attestation of recipient address, i.e. linking it to the recipient, will be done either through a well known pgp key, or through a keybase account that is linked to trusted accounts such as Twitter, Github, or Website.
- 3 years linear vesting
- 6 month cliff backdated to start date
- With clawback (all unvested YFI returns to Yearn if someone leaves or is terminated)
|strategists||150 total||4 people|
|multisig||1 each||7 people|
- Community and multisig YFI will not be vested, but will be subject to right of first refusal like all allocated YFI.
- While Yearn’s multi-sig has full visibility into who the recipients are, names are not published as part of this announcement as a security precaution for the recipients.