POLL: How much additional YFI & for how long?

[iamaces]

Description:

My goal in raising this proposal is to isolate the different aspects on the issue of issuance which is:

1. How much should we increase it
2. How long should be the duration of issuance
3. What should be the allocation of the additional YFI to be issued

By isolating each questions above, hopefully the community can reach a consensus on each topics separately

Also i would like to reference on the following ideas/proposals which inspired this proposal:

Yfi_whale Proposals List

Hi all, we would like to introduce ourselves. We are a group of early YFI farmers which currently holds 16% of the vote and are interested in seeing the long term success of the project. We were the ones who swung the vote for Prop 0 to For in the last vote. Internally we were also very split down the middle between For and Against. I was personally in the Against camp myself initially. Ultimately, we debated it out internally and the Fors won and we swung the vote. That being said, given …

Currently we have 30K Supply of YFI, this is a proposal to increase the maximum supply from 30K to 33K? 36K? 39K? or 42K?

Personally i prefer 42K, why? Because i think this gives us better positioning in balancing between A) minimizing inflation B) providing significant incentive for liquidity providers to stay and to attract new liquidity providers

However given the various opinions i have read from different people, i want to poll on what everyone thinks is a reasonable amount of YFI to be issued on top of the 30K supply being issued right now:

• 3K Additional YFI
• 6K Additional YFI
• 9K Additional YFI
• 12K Additional YFI

Also how long should we issue the additional tokens?

• Distribute in 1 Year
• Distribute in 2 Years
• Distribute in 3 Years
• Distribute longer than 3 Years

[JonathanErlich]

I shared something here around this topic: Yfi_whale Proposals List

[YieldBouncer]

What is the rationale behind this? Why not contributing to existing threads? This is just creating noise and make it hard to keep track of all the supply limit proposals.

[hc.link]

I am FOR this proposal and AGAINST all other proposals related to token issuance.

see my reasoning here: Yfi_whale Proposals List

[iamaces]

My goal in raising this proposal is to isolate the different aspects on the issue of issuance which is:

1. How much should we increase it
2. How long should be the duration of issuance
3. What should be the allocation of the additional YFI to be issued

By isolating this issue hopefully the community can reach a consensus on each topics separately

A lot of proposals includes the answers to all 3 questions but one challenge is i may agree with someones proposal on how much YFI should be issued but i might disagree on the proposals duration of issuance

Since all proposals are going to be a FOR vs AGAINST voting mechanism i belive that isolating each aspect of the topic would make it easier for us to vote

Hope that makes sense

[edenau]

This comes from a part of Yfi_whale’s proposal.

[iamaces]

And yes this is coming from YFI_Whale proposal

If we get to decide how much to issue then we can move on to the other aspects of issuance like duration and allocation which hopefully would be easier if we have already decided on what would be the new maximum supply of YFI

[YieldBouncer]

Then can you include more context and reference on your proposal’s post? because that is ultimately what everyone, forum members or not, will see when it puts on chain for voting.

[hc.link]

I would like to see a 42k proposal on-chain as soon as possible. Also, isolating topics of the @yfi_whale model is a sound approach to governance. This way sub-aspects can be engaged with more detail.

[iamaces]

Thank you for your feedback. I just updated my proposal to provide better context.

[Satish]

I agree For this proposal to keep the incentivisation for newbies and long term supporters.

I would like to see how this number will breakup among different streams and how many years the incentivisation will be provided ?

[edenau]

I would like to see this proposal on-chain asap. It provides more clarity for establishing a token issuance model.

[Sinsecato]

I’m not totally in favor of this proposal. 12k tokens is at the high end of what I’d like to see. I don’t see the point in committing to 12k all at once this soon. We’re still so early in figuring out what we have here, I’m just not seeing the rationale for making huge decisions in the first few days of a totally new endeavor. My preference would be for something more like 6k now, (2k for Andre/Dev and 4k for incentives over 1 year) and revisit in 6 months.

However I could support it if it’s proposed as merely a Max Issuance Cap, and not an Issuance Target.

For instance a vote on 42k being the absolute most tokens we would mint by a certain time, say 2 years from now at which point we could revisit. (Or ever if that’s what people want to do, though I hesitate to lose flexibility).

The difference between and Issuance Cap and an Issuance Target is that the Cap would be the most that can be issued, but we don’t necessarily have to issue them all. I think we could vote very soon on a Max Issuance Cap, and it would give at least some certainty regarding the inflation level of YFi, without tying our hands or over committing us.

I definitely like your framework of approaching this in the different aspects:

@iamaces

• How much should we increase it
• How long should be the duration of issuance
• What should be the allocation of the additional YFI to be issued

I would just rephrase #1, at this point, as the very most we can increase it by (over say 3 years) rather than a commitment to increase by that amount.

[edenau]

I agree. 42k should be the maximum possible supply, any potential issuance model does not need to aim for hitting this ‘target’.

[Zentoshi]

Make it to a max supply of 42069 YFI
The 69 goes to Andre

[iamaces]

I think this is a very good angle of looking at this.

Now we are working on a number.

I think 6k over the next 3 years is reasonable to start with.

Later on we can just vote to add more or stay.

[iTo]

Yfi_whale Proposals List

Here’s a few thoughts: Part 1. Having agreed issuance (3-10k), is it not in our ability to hard code a diminishing rate of inflation from 1% trailing to zero over a 3-5 year period which totals the remaining 2k. (Max total to reach 42k) Capturing benefits of a long trailing incentive.With price advances this should remain enough of an incentive imo. Part 2. We hard code in a buyback program, a kitty, where a % of protocol generated cash flow is used to automatically purchase YFI on the open …

[iamaces]

i decided to turn this discussion thread into a poll given that we all have different numbers we are in favor of.

hopefully we get to see what number majority of the community is comfortable with

[rgalloway]

In order for this poll to accurately gauge community sentiment, it must have a “greater than 12k Additional YFI” option.

[Garry]

exactly

100% likely to kill the platform this way (and their investment) just IMAGINE if btc changed emission from 50/block to 0.5/block in 2010, where would it be NOW?