YIP-56: Buyback and Build

Proposals YIPs
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21

Here’s an amended proposal:

  1. Time-cap this proposal, to say 6 months, forcing a revote for its continued renewal. This would create a natural check and balance on responsible spending from the operations fund.

  2. Preserve 25% of the bought-back YFI as income for stakers, or alternatively to be burned by the protocol (though I’m less of a fan of burns, but it’s better than nothing). The continues at least some value accrual for YFI holders.

Some may erroneously say that startup growth-oriented companies do not pay a divided or do buybacks. That may be true, but Yearn is not a company, and YFI tokens are not equities giving holders legal claim to business assets, etc. Break the value accrual loop now and it will be very hard to reestablish in the future if entrenched interests take hold.

If you want to preserve the long-term value of the token beyond speculative bullish mania (something which would be good for Yearn long-term), I strongly suggest considering these provisions.

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