I voted against inflation when YIP 0 was proposed, and was disappointed when it passed. Does that vote mean anything? Perhaps to maintain integrity, we should mint a small amount and hold in the treasury, and then burn the minting capability.
1 Like
Great idea letās do it. We donāt need more YFI.
1 Like
I think this will receive a pretty unanimous āforāā glad to hear itās being formalized.
1 Like
I disagree with this proposal. While everything looks great now with no more emissions, we may need that power in the future. I think everyone now understands to importance of low to no emissions. So any future emissions will face strong opposition.
11 Likes
Would this proposal prevent redenomination?
2 Likes
Actually I agree with @rewkang but I donāt think the community does. I would like to have minted some YFI for Andre as a thanks, but I see the appeal of having a nice even 30k supply. Couldnāt we calculate all tokens permanently lost then mint that amount and gift it to Andre?
7 Likes
Anyone able to help me figure out why my voting power shows ā0ā (when clearly it isnāt in Metamask?)
burn minting and activate transferring @andre.cronje
1 Like
This is likely because when the snapshot for the vote was takenā it specifies when the snapshot was taken (what block) on the vote page itself. Compare that with the block number for when you deposited the YFI into your wallet. If that doesnāt solve it, then perhaps further investigation is needed.
This thread/forum really also isnāt the place for a question like thatā telegram or discord are usually better options.
2 Likes
Iām a bit unsure in regards to losing the flexibility. Is there a stronger reason than ideological?
This seems a bit of an extreme move. Whatās the rationale for doing anything permanent right now? Diluting YFI to raise funds for a big capital investment down the line could be useful.
1 Like
One option would be to mint some YFI, put it in the treasury for future use, and then burn minting capability. That preserves some options for future use but still establishes a cap that can be relied on.
1 Like
I voted no as I donāt think itās necessary yet. We already know any future inflation vote will be facing a uphill battle in the community (which is good imo). But I value having future flexibility, considering how fast the defi space is moving. Will likely support it in the future but currently donāt see what it adds and why itās important to do first thing.
I do think having extra reserve YFI could be an extremely powerful tool in the future. If for nothing else but talent recruitment. I prefer future devs, designers, economists, mods etc with skin in the game. Even if we were to settle at 40-50K YFI it would be grossly undervalued at itās current price.
4 Likes
I am for this! Greetings to the Few
1 Like
Just to play devilās advocate. If ever there comes a need for raising additional funding. Yearn could always spinoff project specific tokens for new projectsā¦similar to how a lot of the of the other defi projects are approaching it. As of now we dont have a need to do that, even andreās next StableCreditUSD project is not going to have any new additional governance tokens associated with it (which is a good move imho). But incase we need to raise additional funding, that would be our fallback approach(our defensive strategy). Burning the YFI miniting ability is an offensive strategy that shows yearn is not afraid to make calculated bold moves. For the case of paying future talent in YFI, we could always implement a buyback mechanism to buy yfi from the market. Just my 2 cents. Love the discussion 
5 Likes
its the few who make a difference 
1 Like
Iām in. Feel the burn!!
1 Like
The poll isnāt working for me, is it still open? Just shows gray bars, no text? I voiced my opinion but didnāt get to vote it in
did u connect ur wallet to it? (there is a connect wallet on the top right corner of the page).
I did. And I turned my Brave shields off in case that was the issue.