Why do we need BPT?

YFI is already a governance token. Why do we another token (BPT) in order to stake YFI? It seems counterintuitive to me.

I guess it is to incentivise minimum liquidity for YFI. Otherwise the pool will dry up as soon as there is no YFI left for mining.

Bumping this thread. I agree that BPT should be unnecessary to vote or earn yCRV fees. It lowers the friction of entry and participation in YFI protocol for those who do not wish to chase the yield rabbit hole.

Very curious to hear why BPT should be tied to these two mechanisms?


What is BPT?

The only BPT I can see in the markets is Blockport. I’m assuming it’s not the same.

How to get these BPTs?

When you provide liquidity to a balancer pool you receive BPT. You cannot buy these. These are a representation of the liquidity you provided and fees collected in the particular pool.

Isn’t this already set to change when we move to yfi only voting?