Immediate YIP to fund audits

Immediately mint 125 YFI (~$500k) to be allocated directly for smart contract audits.

This proposal would immediately mint 125 YFI that would be directed to the multi-sig, liquidated for stablecoins, and designated to be used solely for smart contract audits.

Yearn smart contracts are being deployed very rapidly and are holding or will hold large amounts of capital. A single vulnerability could have long-lasting and very negative consequences to the yearn ecosystem and its trust within the market.

Smart contract audits cost roughly $20k, and Andre is deploying roughly 2-4 smart contracts to production weekly. An immediate budget to fund audits for critical smart contracts is vital to mitigate the risk of vulnerabilities being exploited in live contracts.

A larger more robust budget can be determined at a later date when inflation is finalized.

For: Mint 125 YFI and liquidate for ~$500k in stablecoins to pay for smart contract audits.

Against: Do not mint 125 YFI.


  • FOR

0 voters

What about a freeze on Fee Rewards for the time being and use them to pay for Audits? How much is YFI earning in fees right now.


This is reasonable. Let’s get this done.

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@Sinsecato proposal is much stronger. Yes, it’s less money but should be enough to cover what’s out there: Yearn Contracts

@franklin please, no clickbait titles :sweat_smile:

I don’t think anything should be released without audits. Voting and releasing a LINK yVault without an audit is absolutely irresponsible.

This project needs to take a step back and formulate a plan, otherwise it is just asking to blow up.

This is a good point and not something I had considered. After another 12 hours I can add another poll to vote between using protocol earnings vs. minting more tokens. I think most would support using the protocol earnings.


Cross-ref proposal that uses reward fees instead of YFI as dev fund: System rewards as operational capital

Ya I would support using earnings where possible first…

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Redirecting discussion to on-chain YIP-36: YIP 36: System rewards as operational capital.