Seems like this will benefit the yEarn community overall
For, the faster we get the crv necessary for the boost the better. Short term rewards in the vault will decrease but the long term looks promising.
Do I have to unstake my YFI from yvault to vote?
you can vote if you have YFI staked in the governance contract, not in the yvault.
I like this off-chain voting.
Are we able to shift all governance voting to this form of voting? This will save us lots of gas fees and will encourage more people to vote.
This seems to be stated like it is an intended / desired outcome. Is there a reason for that?
All the communication I’ve seen from yearn about the vaults thus far has presented it as a wealth management product with no significant mention of a governance role. I was under the impression that farmers of any disposition are the target group as they generate fees for the ecosystem, so I’d like to understand why it is now beneficial to deter some of them from participating.
I think this a great idea, but more importantly, I love the implementation of Balancer’s snapshot system! After seeing it in action for the YAM team, I was actually going to recommend we implement it. Are there any real reasons this can’t replace normal voting on-chain? This seems to me that this is also on-chain, albeit in a different mechanism but maybe someone with more technical knowledge can correct me if I’m wrong.
I’d be interested in hearing about this as well.
I think what we’re going for here is more of a long-term vision of yield farming– by being able to have a significant voice in Curve governance, yearn and YFI holders can help ensure that policies enacted on Curve don’t negative impact our ability to yield farm from the vaults. But this would directly conflict with any farmers who literally only want the highest possible yield NOW, versus thinking about overall our best chances at sustainable long-term yield.
Having trouble with the off-chain voting. Using MetaMask for Android. I sign the message, but after selecting the vote button, the vote is not completed.
The signaling vote has concluded:
- No changes, do not participate in DAO = 0%
- < 5% — 6.11 YFI — 0.47%
- 5% - 10% — 260.08 YFI — 19.87%
- 10% - 15% — 1.04k YFI — 79.66%
We’ll start from 10% and take it from there.
Has boost been activated for the yCRV vault? If not, when is this expected to go live?
The new strategy depends on this Curve DAO vote, it can’t be activated before it passes on August 31st.
Strategy deployed, but not yet swapped. Andre’s working on further testing.
72,794 CRV sent from TreasuryVault to CurveYCRVVoter voting proxy. See transaction.
@banteg Thanks for the update. Have we confirmed everything is working as intended? I am not seeing any change whatsoever in the APY being earned over the last day+ since this transaction was made. I would have expected at least some boost, if not the full 2.5x. APY being earned in the vault since the transaction was made seems to match the minimum APY in the range that Curve provides for 1x (no boost) to 2.5x (full boost).
We are still in the testing phase and the boost is not enabled yet.
@banteg Wen ser?
Looking forward to it, and much needed to get the APY’s up to a competitive place before too many assets flow out.
I think ensuring that the strategy is stable and safe is far more important than a few days of higher APY.
Also, the point of these vaults is not to always have the highest yields available on the blockchain– it’s to have the highest yield possible while minimizing risks. Thus, the thorough checking of the strategies to make sure everything works as it should.
Don’t disagree with any of that. That said, it still should be a top priority.