ytrade.finance leverage fees and liquidation bonuses
yswap.exchange underlying system fees
yliquidate.finance liquidation bonuses
system dust (unassigned interest or fees)
ONLY fees are awarded to YFI stakers (Can someone verify this)
“These fees will be collected on a daily/weekly basis, and can be requested by the governance contract. Once claimed they are distributed to the vault contract. The vault contract normalizes the rewards to aDAI (Aave’s wrapped interest bearing DAI) via 1split.eth (1inch.exchange’s on-chain dex) and sends the funds to the rewards contract.”
Current rewards are sent as Ycrv? Can anyone confirm the above or add more detail on these rewards.
Staking and holding YFI is much higher risk then holding just a stable coin in a liquidity pool and we think it should be rewarded more in tune with the risk factor.
The proposal is to include a % allocation of YFI for these YFI Governance 2.0 Staking.
Would love to hear everyones thoughts and comments?
The YFI token is only meant for governing the chain through staking on the gov pool. If you are not interested in staking and governing YFI there is no reason to hold YFI as per Andres tweet. We dont care about YFI holders bagholding our governance token so there is no reason to incentivize that…
The YFI token is just representative of ownership of the protocol and the fees that can be earned from users who make use of its service. If newly inflated supply were just going to be distributed proportionally to existing holders, as you’re describing, why even bother printing it at all? Better to incentive governance through requiring participation to collect fees.
Cashflow earned to your share of YFI not worth it? Probably better to sell then, to buyers for whom it is. Ultimately, the value of this token comes from the value created by the protocol, better not to confuse that with inflation schemes (and better to incentivize actual usage by rewarding LPs instead).
I staked my YFI and the tx cost was around $4-5, which is cool.
just to see the tx cost of unstaking I clicked away as if I was going to and the cost was under 1 ETH but still extremely high, I’m thinking this is going to change when the new rewards come out but who knows.