It seems like this discussion is now being led by non-YFI holders. The best way to voice your opinion is to vote, and the only way to do that is to own YFI.
I’m both a LP and a holder. I want what’s best for the ecosystem for the longterm. The tweet mentioning the possibility of claiming $CRV qualified it with the word “approval”, how is that not clear?
That’s all well and good but if that’s the case the early CRV should be liquidated and the profits sent to LPs who earned the CRV through the YVault.
The right thing to do is to distribute the crv (same goes with bal from bpt deposited into yearn?) to the contributing LPs, as it was a natural assumption people had, and similar protocol mstable is doing that for bpt deposited with them. If not practical, option 3 is the best alt.
Look like YFI governance voted to keep 567k crv for them. Well that unfortunate.
Would like to point out that the 2.5x reward boost on the voting weight could be interpreted differently, such that the distribution is segmented by 10% of liquidity on a per-gauge basis.
Source needs to be confirmed, jiecut lets us know that the
yearn community may need a proposal for having other gauges on the curve ecosystem set up in this case.
Of relevance:
I think most people (including me) are in favor of option 3. Which is a good longterm decision for the yvault.
However, I believe we should look for a way to compensate the early LP’s that were expecting to receive CRV.
By my calculations I have about 5K CRV in there. I’m perfectly happy to donate part or delay my rewards for the benefit of the vault, but I find it a bit steep to just donate it all to future LP’s. As I did went into the vault specifically with the idea to mine $CRV, else I would have provided on Curve directly.
I do understand it might be technically hard to do, so I would opt to look for different solutions. It doesn’t have to be a 1-1 CRV compensation, but I am sure there are creative ways to reward the early LP’s pro rata in a way that will not cause a lot of friction.
I think it is the most fair and ethical thing to do. If there is a viable option.
The calculations for gaining the proportion of CRV vesting is time-weighted. Which means that few months earlier on Curve; those early LPs would have a greater proportion, whereas yearn vault was only launched less than a month ago, so the actual vested amount accrued to you could be lower.
Agree. I posted a similar idea here: YIP 37: Participate in CRV governance and 2.5x CRV reward boost
Considering a proposal poll discussion to see if there is motivation to pay early LPs their CRV over time.
Closed since inactive.