Include YFII (fork of YFI with YIP8) in yearns governance for better spread, decentralization, and market capture, building the whole yearn network stronger.
Abstract:
A few blocks back, YFII was forked from YFI which implemented YIP-8, which was declined in original YFI in spite of having 80% Votes FOR it because of unmet 33% quorum requirement. Initial YFII fork emerged from the YFI community and since then YFII has emerged into its own community and has pulled many new people into the yearn and curve’s defi network. YFII was immediately marked as scam due to misunderstandings, however, has been approved as a legit fork as admin keys are burned and has been audited by several community members. Including the sister of YFI, - YFII inside yearns governance will capture this huge newly bootstrapped YFII market and will create a widely spread decentralized network, making the whole yearn ecosystem stronger.
Motivation:
YFI was launched without much of marketing exposure and quickly gained traction. DeFi still being new to crypto for outside developers communities, many people who were trying to understand it realized the YFI distribution has already stopped.
As initial yearn emerged from the west, there was also a huge language barrier and social platform distribution which needed time to translate into specific regions. The emergence of YFII from the east has pulled new communities and has a very strong and passionate network within. Yip8 proposal has also implemented an alternate, fair distribution of YFII. There is interest from both sides and yearn network sits at a very fortunate position of leveraging both of these east and west narratives for a stronger, more decentralized and a bigger ecosystem.
Specification:
The Proposal will give YFII holders governance rights alongside YFI holders in the yearn ecosystem. YFII can also be considered to be used to provide liquidity for future designs of yearn, alongside YFI. This also provides a good hybrid solution for proposal 0.
About YFII: GitHub - yfii/docs
I am up for some level of integrating the yfii and the Chinese community but it seems like a very hard task; you obviously can’t just split governance evenly between the two tokens (nobody here would agree). They split because they didn’t like the distribution and to be fair it did leave a lot of non English speakers out kind of unfairly.
I would love to see some kind of unification. YFII seems to be a result of previous voting leading to nowhere due to not reaching the quorum. Both projects have a big community and this will benefit both projects. Andre has been very supportive for team pink.
Im initially from YFI, but went into YFII to check what the fuzz is about (YFII emerged from YFI!!) , and I did notice this huge language barrier, It’s harder for westerners, as eastern communities use different social platforms and vice versa.
Sure we know why ! YOUR BIGGEST BAGS : YFI
thats not even decentralized if you and your Whale frens dominating the YFI Votes
a few hours before the vote closes youre pumping a loser 30% “for” Vote to 75%
lmao , youre such a fraud
The only reason this vote have more for then against is because the YFII holders can create accounts and vote for. If we would place this on chain vote it will lose 100%. Claiming YFII is a good and vibrant community is just false, just check out their forums, they have like 4 threads in total and no engagement.
The only way YFI and YFII should work together is with weapons in their hands against each-other on the battlefield.
