Redenominate YFI

Proposals Vaults
61

Love the BRK.A reference. Bright future.

3 Likes
62

I like the BRK.A reference as well! Does that mean we up the YFI emission since there are a lot more BRK.A than YFI currently?

63

If we can create a contract where if 1 YFI is deposited, 100000 YFIB are issued and same contract for redemption back to YFI, that would be really cool. YFIB not allowed to participate in governance and claim fee rewards as it will complicate things.

64

Create any tokens and trade for YFI. But donā€™t slipt YFI to any smaller. Simp proposal.

1 Like
65

I recently saw another thread pop up on this subject soā€¦ As a user of the products my preference would be for YFI to remain as is. We donā€™t want people buying governance who think their percentage of governance changes because the token itself has been re-denominated. I want to be the dumbest YFI holder. Iā€™m not willing to give that up to would be XRP buyers.

1 Like
66

There is no need to denominate the $YFI tokens. Please listen to the recent podcast on Bankless and hear why Andre made it this. This is not meant to be a few million tokens for holding to create capital gains, it is designed to vote for the best use of the protocol and assist yield farmers getting the best out of their crops.

I think there is a capital element to it AFTER the yearn has in place a few things, a value statement for governance, funds and treasury in place for ongoing maintenance, upgrades and audits as well as providing new solutions for yield farming and attracting like minded individuals to make this even better.

The cost per coin shouldnā€™t matter, $BTC is expensive and guess what it is flying, if you are not interested in governing the protocol then I think you need to look elsewhere. The only reason I see for this is to make the appeal seem cheaper for capital gains and that to me is the wrong reason to do that. THIS IS A NO.

4 Likes