After much discussion and tons of feedback, we decided to keep this proposal mostly as is and leave it to the community to decide.
We added two points of clarification:
We believe it is better to leave the related topics raised here for separate granular discussions. Some contributors agreed, they created a thread to discuss how to handle the minting keys: YFI Mint Controls - Burn the Mint! & Alternatives — any number of proposals may come from this discussion and lead to binding votes.
Thank you all for the extraordinary level of participation.