YFI started out as an incredible idea. But 100% decentralized governance is proving to be more than difficult. We all have differing opinions on what is best. And most of us have not considered these issues prior to YFI. We need leadership and council. And we need to identify them now.
Who is interested in leadership positions and why should we consider you? Who can we get as advisors? Let’s start on this before thinking about other proposals. We can’t keep making mistakes.
We need leadership not centralized governance. A council was talked about before. IMO this is much more important than figuring out the inflation issue. And I believe that YFI can significantly benefit from advisors whether that be Delphi Digital or reaching out to other leaders in the crypto field (eg Kain).
But all of this will take time. So let’s focus on low hanging fruit (ie, ideas that are less contested) and slowly start moving forward. For example, I think we can agree to get the multsig a little bit of funds to keep things moving. Help them deal with operational expenses and get the SCs audited (which probably remains the biggest obstacle to yVault adoption at this point).
In other words, let’s focus on less contested issues while we find leadership to help guide us through more complicated ones.
There have been a number of ideas related to inflation/emissions/distribution discussed in several threads and there are certainly more ideas among holders of YFI. How best to gather existing ideas and funnel new ideas to a single place where they can be considered?
Ya someone needs to collect the best ideas and consolidate them in a single topic to be voted on…Initially its better to have scattered discussions that way new ideas can organically pop up…after a certain amount of time…someone needs to monitor those ideas with the best traction and consolidate them in a single discussion thread and make the old discussion threads into sub threads…this way our discussions can get more and more focused over time…culminating in a onchain vote? just my 2 cents…
I would hope most people buying into the token had some idea of the controlled chaos they were getting into with YFI. Really, fully decentralized governance comes with upsides, and downsides. If it’s not for you, that’s ok! There are lots of endeavors with top down, clearly established leaders from inception, providing leadership and retaining that control and ownership, for better or worse.
However, we’re already starting to see thought leaders emerge here, or at least I am, and the platform including governance has only been in existence for a couple weeks. It’s going to be a messy process, but there’s still voting to anchor actual decisions.
I often wonder about these leaders that are emerging. There are a few people driving the discussions and YIPs. No disrespect to the people helping/leading now but what are their qualifications? Such disclosure might instill confidence and trust, which are both lacking at this point.
Let’s start with: substreight, delta tiger, hannes graah, daryl lau, and yfi_whale. I see them listed as authors to most of the recent YIPs
Who are these people? And why do these people drive the discussion/YIPs?
Like I said before, they may very well be qualified. So forgive me if this feels like a call out. Let’s call this an introduction to the community.
(btw, I read YFI_whale’s inflation post so I do understand that they represent a group that used to have 16% of the voting power. If that is the only qualification, then I would like someone from my group to be a part of decision-making process as we have over 13% of the YFI voting power).
edit: And forgive my ignorance if I should really know the above people.
In it, Jesse Walden argues that the best way to organize open source communities like this one would be to look upon how mutuals or cooperatives are organized which, in fact, is through councils appointed by members of such organizations. Highly recommend listening to it!