Increase YFI 1000x

I have been discussing this idea in the various telegram channels and it seems there is enough interest to open a discussion here.

People are scared of big numbers, and with the current price of a single YFI over $6000 its time to talk about whether such a limited supply is in the projects best interest.

If the supply was to be increased by a factor of 1000x this would give us a total of 30 million YFI and a price of $6, a much more reasonable entry point for new comers.

I have a degree in sales and marketing and these are basic concepts that you learn. Even though it makes no difference if you own 1 YFI at $6 or 1/1000th of YFI at $6,000 there is a major psychological difference that will stop a significant amount of people buying any at all.

The more people that buy YFI the more decentralised the project is, not to mention this is likely to significantly increase the marketcap of the project which will make it harder for one person to buy up large amounts of the supply and take over the project.

I see no downside to this change.

Think it’s a good point but not worth our time to debate. We have a lot of memes going around about how YFI will be higher than BTC, stuff like that.

Let’s just focus on building and how we allocate protocol fees for now


Closing, duplicate: Redenominate YFI

1 Like