1/ While I appreciate the spirit in which this proposal is offered, I would not support it with the current parameters.
Income is core to the $YFI value prop. Eliminating it entirely would be a bad call, IMO. But creating a mechanism for intelligent reinvestment makes sense.
Income is core to the $YFI value prop. Eliminating it entirely would be a bad call, IMO. But creating a mechanism for intelligent reinvestment makes sense.
https://twitter.com/RyanWatkins_/status/1321495304164790272
2/ Simply buying $YFI with all protocol income and putting it into a governance-controlled fund sounds good on paper, but it would create a massive pot of money which people would fight over on a monthly or quarterly basis.
Who would govern the distribution of these funds?
Who would govern the distribution of these funds?
3/ In the current model, some amount of income from the Treasury goes to grants. IMO, the distribution of these grants thus far has been extremely informal.
Have the grants incentivized gainful development around the protocol? Maybe in some cases, but how much?
Have the grants incentivized gainful development around the protocol? Maybe in some cases, but how much?
4/ What I'd rather support is the following spending:
1) Institute ~2 year-long time-locked $YFI bonuses for "core devs"- say between 10% to 25% of the current salaries.
2) Add some additional money to grants with better oversight
3) *Possibly* pay stakers gov rewards in $YFI
1) Institute ~2 year-long time-locked $YFI bonuses for "core devs"- say between 10% to 25% of the current salaries.
2) Add some additional money to grants with better oversight
3) *Possibly* pay stakers gov rewards in $YFI
I've amended this a bit and added my own thoughts here: gov.yearn.finance/t/proposal-ret…
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