Proposal to add Chainlink (LINK) as the first asset used as collateral for the upcoming delegated yVaults release in yearn.finance v2.
Chainlink is among the highest valued and most liquid ERC-20 tokens. There are a significant amount of tokens and thus liquidity idle, which could be deposited for delegated yVaults. LINK’s high market capitalization makes it well suited to be the first delegated yVault asset as it will likely contribute to the most fees that will be eventually accrued to YFI holders.
Chainlink also has one of the strongest communities in crypto and successful initial trials of delegated yVaults will likely encourage larger token holders to join the ecosystem adding to even more fees for YFI holders.
Delegated yVaults use Chainlink oracles as a key component of the system making the token a critical part of the product. LINK token holders would likely support using this product because of its use of Chainlink oracles and therefore adding LINK will be mutually beneficial for both LINK and YFI holders.
For: Add Chainlink (LINK) as the first asset.
Against: Don’t add LINK.
EDIT: Had to close the poll and create a new one with ETH as an option. See final poll in posts down below.