There has been no on-chain voting for quite some time. A number of us have a lot of rewards accumulated that we are unable to claim.
Proposal for a simple: Allow me to Claim Voting Rewards vote.
Answers don’t really matter since voting Yes or No will still temporarily lock your YFI in Governance V2 and allow you to claim rewards.
^It begins!
I thought @banteg was preparing a governance v3 set of options, and something related to the ability to claim was included. There may have been others involved in that as well. It seems to make sense to make a number of governance changes in the same contract.
I am in favor of removing barriers to claiming rewards. The perceived benefit (forcing participation by requiring a vote) seems weak. Do we really want to incentivize voting only for the sake of claiming?
I haven’t made up my mind on whether forcing participation in order to claim rewards is good for the protocol or not.
But I do remember someone bringing up adding an “abstain” option for votes just so voters less involved still gets to claim rewards without voting for something that may negatively affect the protocol.
Right now, I believe the promise of reward was for “work” (participation) in governance. But the problem is there isn’t enough YIPs, and therefore opportunity to “work”, in governance right now because of the transitioning period.
On the other hand, I really do not want reward claiming YIPs cluttering useful YIPs in governance. Imagine how new LPs would feel if they read that a big portion of past YIPs are just “we approve of giving governance salary”.
There are a lot of differnent ways to participate, only one of those is voting. We have people doing marketing. We have people contributing with ideas. And just by staking in governance rather than using their YFI on a lending platform, they are making the protocol more resiliant to attacks.
True, maybe I need to expand my idea of “work” to include all those other aspects. We both participate here frequently enough that it’d be weird if I found out you couldn’t claim rewards because there aren’t proposals good enough to be voted on. Since filtering out bad proposals is also work.
Voting also temporarily locks your YFI in the ygov contract, which also has some benefit. You can’t just vote, claim rewards, then unstake.
Agreed. But a YFI lock after voting ensures the YFI is not sold and voted again. A rewards lock seems to be there to encourage voting even if the holder cannot vote or does not want to vote. These two types of “locks” should be discussed without conflating them.
Agree there needs to be change. Another point is, not everyone has staked full tokens in the governance contract, so to me its not that attractive to stake, receive a few dollars in rewards that is offset by paying ridiculous gas fees and unstake. That’s a failed investment because of high gas fees. So the whole 3 day lock has no effect on stakeholders wanting decent returns, because its obvious that the longer the investment is staked the better the returns/rewards.
I would vote yes… I want my rewards too haha
No we don’t and it should be fixed imo.
Streamline discussion: YIP: Release fee rewards.