The claim that there is “nothing to vote on” is simply not true.
Consider the first sentence in the article “Pickle and Yearn developers have worked…”
Yearn developers are paid out of the YFI governence fund, and YFI holders absolutely have a right to have a say in how those developers have their time.
Later on in the post
" Pickle gets integrated into Yearn’s ecosystem and share its development and security expertise."
It is clear that Pickle is receiving something of value (Yearn branding and security expertise) from Yearn.
I don’t actually think the integration is a bad idea, but is clear that this should have been voted on (and a retroactive vote should be held).
Treating governance like an obstacle to be avoided rather than an essential part of YFI’s value proposition is going to do long-term harm to the protocol. YFI holders don’t want to micro-manage developers, but they ought to have a say in major decisions that will affect the long term value of Yearn’s brand.
Can you walk me through the fee distribution. Seems like there will be massive fees on Pickle Jars (now new Yearn vaults)Yearn treasury gets 2% mgmt fee, 10% performance fee, Pickle Devs get 10% performance fee, DILL gauge gets 0.5% withdrawal fees, 20% performance fee and 10% strategy fee. That amounts to 12% flat fee (strategy + mgmt), 40% performance, 0.5% withdrawl. Net returns would be abysmal with these kind of fees and I wouldn’t expect users to deposit in these new vaults with such fees.
I assume my fee calculations are incorrect, so any more color would be appreciated.
Cannot agree.
Apple as it is now has decade of success and tons of best-in-class products - this is why Apple is a brand like now. If it would be just another okeish pc producer - you wouldn’t value it so much (and probably it would be extinct by now). Organizations fill in their brand names with their success - if Apple would have sillier name, but same great products - brand would be strong too. But it takes more time, effort and success to build a brand with not-so-good name. It’s just easier to move with a good name, then with a bad.
Anybody else thinks there is ground to discuss if our lets-say-partner Pickle needs a name upgrade while joining Yearn system? Not some boring name of course.