This caught me completely by surprise. How is this possible? I was waiting for an announcement from the core team for the new V2 yETH vault and meanwhile it’s been gathering dust for a month, awaiting a viable strategy.
I’m not sure if anyone outside of the core team was aware that this was the case. My interpretation of the state of the yETH was that it was being developed, had some outstanding dependencies with 3rd parties, and would be launching ‘soon’. If we had known that it was ready pending a strategy, I’m sure the community could’ve come together to put some strategies together. This is doubly unfortunate, as I feel it has also affected the value of YFI over this period.
On reflection, I realized that yearn doesn’t seem to have a communications officer. Someone who is responsible to gather and share strategic information (in alignment with the core team) so the community don’t miss out on opportunities to govern or contribute, while the devs are busy doing what they do best.
Would it make sense to submit a proposal for a communications focused role on the core team?
TL;DR: Communication out of the core team could be better, and the community are often out of the loop. This means we are potentially missing out on opportunities, including governance actions. A stronger ability by the community to govern would strengthen the value of YFI.
I have been trying to raise awareness on this for a while now. I hope others come to the same conclusion which is that communications is not a nice to have, it is a necessity and the price of YFI reflects it. Newsletters simply do not cut it because their is a lot of information on discord that for whatever reason is not being shared here or on twitter. There should be a spokesperson that is in charge of the official narrative to get everyone caught up to speed in order to be able to work together on what needs building. For example, creating a grant or tournament with prize money for the best DAI strategy which is what is necessary to get the yETH vault up and running. It would be a win-win scenario. Either way, it is imperative that we all get the same information otherwise stakeholders will get tired of waiting for products to ship and dump/short YFI which will turn people off from governance thereby creating a negative feedback loop.
If anyone wants to do comms work, you don’t need a proposal to do so you can just start helping out, and the team will notice those who contribute. Also, we have people who help with communications such as myself @saltyfacu and @franklin we keep the official channels as up to date as we can with the latest news that the team tells us and that we hear from the devs, but I agree we can do better.
I’m not sure you have been raising this for a while now. I just saw your main post a few days ago.
I was under the impression that the yETH vault redesign/strategy was being worked on. It was more a breakdown in the individual developer’s communication process rather than a collective communication. It was only communicated yesterday or very recently that it was now awaiting a new strategy and soliciting some feedback from community.
But again if you feel really strongly about this, I suggest you create a detailed objective plan that will outline specific goals and objectives, and specific actions on how those will be completed which can be presented to the multi-sig and governance. Almost everyone involved has done so by being proactive and already doing things, then people have nominated them. Make a plan of attack and present it to others.
You can read my posts I have been saying this for a while. yETH is the tip of the iceberg I have many questions most of which came up from the back and forth discussion in the forum. What I have been saying we need is an “official” with privileged access to ask the devs questions one time get the right answer and write an article that can be linked-to in the future to any newcomers thereby getting everyone on the same page. If bugging them is a big deal then just send an email and they respond when they get to it. Little by little, we knock out those questions and come to a mutual understanding of what is broken and how to solve it. If we want an open and transparent method of problem-solving, then we need to know what the problems are in the first place. To reiterate yet again, I think we need three tiers of information for the amateur consumer, mid-level consumer, and outright professional. It would also be a huge boon to YFI if we could translate said information into other languages to get people from non-English speaking countries to contribute their financial capital and human capital. I have been consistent in this from day one, read my posts. Everyone who is opposed to it just keeps throwing in my face that if I want to do something about it then take the initiative. I think this is it.
I also said that PR should involve keeping one eye on Yearn and another on the changing landscape of DeFi since it changes so fast. We should know what new innovations are going live. For example, I said we should look at Crescofin.ch and CoFiX.io. Cresco guarantees principle plus interest because they are the first to be insured by Lloyds. Maybe farming wCRES tokens would be wise since we could guarantee that people will not lose money. CoFiX is a computable finance exchange using an on-chain verified, decentralized price oracle. They aim to eliminate impermanent loss. It seems like something worth exploring, but when I bring it up people immediately shoot it down because Andre said no AMMs. This seems like something the community should have a say in. PR should try to create symbiotic relationships with others to create sustainable risk-adjusted returns. If this is not possible, then we should think about bringing those ideas in-house. And I have also advocated for bringing actuarial governance to Yearn by working with Gauntlet Network. Nobody has an opinion about it apparently. I am sure that there will be many more protocols going live and if we bury our head in the sand, we are going to be left in the dust.
Great news people, discord has arrived at a consensus on hiring a PR person and we are now fleshing out the details on the #PR section. Please join us so that we can brainstorm together. This has been a painful process for me, luckily we came to the conclusion that crisis management is an absolute necessity and as such are working on bringing about a formal proposal. Join us on discord: https://discord.com/invite/6PNv2nF/
You can post a question and the devs will eventually answer here: https://hackmd.io/r3aR9KTARGO08r3qSpYT0A?view