you are absolutely right, its not a fork. It would have been worse if this proposal was made if it was a fork. Its not like btc vs bch , but more like parity + consenses = ethereum.
its also about whole network affect rather than short term bag holdings, about the spread and collaboration instead of competition.
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If you would like whole network affect rather than short term bag holdings, about the spread and collaboration instead of competition
ā¦why have you created YFII? Why not just join YFI? What has YFII added? We can collaborate much better & have a whole network effect if you guys just joined YFI like everyone elseā¦
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This is ridiculous. If you canāt dilute the supply by minting itās going to be diluted by forking. What a way to divide a community and destroy a project.
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Hey all. Super interesting discussion. Iād like to chime in with a few thoughts as I think this is a significant moment for YFI governance, and until governance becomes more robust (and resistant to capture) there are many ways to royally screw this up. I can only hope that the number one thing on everyoneās minds it to not rush too fast towards any decisions that has not discussed for weeks.
There appear to be two similar but very different proposals here. One is Andreās referral program here, which may or may not be a good idea and has its own merits to be discussed in that thread. The second is the proposal in this thread which argues for a share of governance rights.
IMO there shouldnāt be any current push towards sharing anything right now with YFII for a few reasons.
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YFII has yet to legitimize itself. TVL is of course meaningless. YFIās value proposition has always been its community and early adopters, not its TVL or any price/pumpy-related metric. For YFII to legitimize itself it needs to demonstrate organic development, innovation, and traction. Has it really reached that bar? There is a non-negligible chance that YFII goes away completely after rewards end. If the community wishes to merge in any manner, certainly it can wait 2 months to scope out the situation. Whatās the rush?
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Has the chat and forums genuinely been clamoring for a merge? Has the community been pushing for this? Where did this idea even emerge from? AFAICT, most YFI members are content to let the fork go on its own way. Down the line, perhaps something can be considered but as of right now thereās no need and thereās no urgency.
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The entire point of on-chain governance is that people trust the plutocracy and wisdom of the community. The people who are unhappy can (but usually never do) go off and start their own fork. The concept of the fork re-merging with the original turns on-chain governance into a complete sham. It undermines the original governance process.
The counter-argument to all this is that governance can, and should, do whatever it wants. It can change its mind about YIP8 / YFII or be more inclusive and share governance rights. If thatās the path that the community ultimately goes down, I urge everyone in this community to be cautious about governance capture, give the YFI community enough time to discuss various options, and wait for YFII rewards to finish before merging anything to confirm that their community is strong enough to survive on its own. Otherwise any fork that offers huge farming rewards can appear to be legitimate and capture their way into YFI.
Additionally, please note that the poll can be trivially Sybil attacked. Next time please tick the box that says āShow who votedā. It is strange to me that the comments are completely opposite from the poll results.
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I cannot see your proposal as anything other than an assault on the YFI governance process. Lets review the story of the YFII copypasta for context.
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Fail to reach a quorum on YIP-8 (bitcoin emission) by a huge margin. If I recall YIP-8 only had 10% of votes, while a quorum of 33% was required.
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Plagiarize/fork/copypasta the YFI code (including UI with zero changes), implement YIP-8 and burn the keys. This is an attempted community capture attack, as many people were for these early proposals.
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Create parasitic liquidity pools to mine the copypasta YFII token. Build a small but usable value base and TVL via shitpool mining (currently you have <7m MC and 50m TVL). Onboard captured/subverted YIP-8 supporters as LPs.
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Undermine the image of YFI by abusing the concept of community via a social media propaganda campaign. If we (YFI) are inclusive then we are bad, because we undermine ourselves; if we want to get rid of you we are bad because we are not inclusive. This sews an illusion of uncertainty, when we are indeed quite vehemently and unanimously against including the YFII copypasta in our governance process.
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Sybil attack the community polling process in our OPEN governance forums with a proposal to fracture our governance into your āYFIIā copypasta in order to create further division. Force us to deal with you in our own forums in order to draw legitimacy to yourself while discrediting our resolve to protect our capital and TVL.
Meanwhile, you have zero governance process of your own, and zero development initiatives. It seems the only idea is to suck money into your meaningless liquidity pools, while throwing our efforts at good governance under the bus in the process.
Fren, you should be ashamed of yourself.
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Do you have a screenshot?
This idea makes no sense. The idea about splitting a share of the fees generated by AUM might work, although I have my concerns. But let YFII govern YFII and YFI govern YFI.
The reason there was no quorum was because it was a bad idea with no very little support, and people actively did not vote on it to keep it from having a quorum. The proposal that is actually popular with YFI governance, YIP 30, is currently 99.36% Yes.
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Easy nope. If they want to govern the protocol YFII holders are welcome to purchase YFI just like a lot of us did.
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somebody just lock this threadā¦ i do salute OPās gigantic balls in attempting this trojanistic maneuver. But cāmon. blue is open to working with pink, but donāt ask for governance rights. lol.
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This is a 51% attack. Period.
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Given how little YFI is on exchanges, theyād make us all rich trying to buy a controlling share
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It is really meaningful if we can build a united defi community. Bring East and West together!
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This is decentralised network. So it already bring west and east together. You donāt know if the face behind YFI is who. Donāt bring racist to our community, please.
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Moderator please lock. This thread is not constructive.
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YFII was never about YIP 8. It was and is an attempt to gain governance through dilution of YFI. This is beyond shameful.
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if there are options for a constructive and mutually beneficial way to work togetherā¦think we should examine itā¦may be it doesnt work out and thats okā¦but we should tryā¦litecoin didnt kill bitcoinā¦Key is to examine what if any real value YFII can bring to the ytoken ecosystem and is it worth what they are asking for in return?..the real value is in the communityā¦if they can show a massive community then it might be worth it to work with themā¦just copy pasting code is easy and is not worth our attentionā¦
Also this kind of forking is going to happen in the futureā¦we should come up with a framework for evaluating what value a potential fork is bringing to the table and addressing them such that it benefits all the participants of the yearn ecosystemā¦Could become a massive tool to boost the growth of our DAOā¦imho.
Its mostly a negotiation of what value they bring and what they expect in returnā¦it need not be either- or
This thread will be running for another 6 hours awaiting for constructive suggestions and then locked.
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If this is even considered, you will see massive capital outflow from YFI, myself included.
Attacks on governance should not be tolerated under any circumstances. We have an obligation to protect our interests.
So may be we dont let them into the governanceā¦but agree on some kind of profit sharing implementation? Just spit balling some ideas hereā¦We can come up with some set of metrics to establish if a fork is even worth consideringā¦
think startup acquisition styleā¦the key there would beā¦what are the set of metrics that we would consider valuable before we even consider working with a forkā¦we should not be considering all forks seriouslyā¦but we should not be ignoring all of them eitherā¦
This need not be a decision we make in hasteā¦this would be a longer discussion to establish a frame work of thinking for us as a DAOā¦think this whole discussion around YFII is just an interesting opportunity to analyze the topic of forking in a way that can benefit all of us and create a framework around addressing future forksā¦just my 2 centsā¦
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