YFI Only Voting Has Passed!

Context: YIP-10 (YFI-only voting) was accepted with 77.1% for, 22.9% against, and 45.9% quorum.

In the coming days, the UI will be updated to utilize YFI for voting, as opposed to the current version of Governance BPT.

The following voting parameters will remain the same:

  • Tokens are locked for 3 days at the time of voting
  • Minimum quorum will be set at 20% in accordance with YIP 12

The community is exploring ways to incentivize voting participation including YFI rewards, all of which will be detailed in future proposals.

This proposal marks a major change in favor of YFI tokeholders, as governance is now entirely dictated by yEarn community contributors, as opposed to the previous model which largely favored stablecoin whales providing yCRV liquidity.

Special thanks to @cp287 for starting this discussion, @rewkang for summarizing and to the hundreds of community members who supported YFI-only voting!

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Please see this Locked BPT due to Block: 10553979

I think there are valid points here to be discussed.

my tokens are locked on 17 which i voted for after a tweet from the iearnfinance twitter account acknowledging 17 and saying to vote on-chain

understand people want to honor 10 (before it even passed) but this is quite unfair

would prefer this gets unlocked as soon as possible as many followed my endorsement to the tune of >$250k of BPT

1 Like