FOR, obv avoid stablecoins whales takeover
I really agree with it, I will vote for
I am for this proposal, but as yfi_whale wrote, delegation mechanism should be in place or quorum requirement should be modified before this change is implemented.
Also I want to let staked YFI have voting power as a few people mentioned.
I fully support. And I ask everyone who spoke āforā in the topic not to expect others to vote, but to vote on their own despite the blocking of funds, so that we can a) reach a quorum; b) get more votes āforā than āagainstā.
2 Likes
This makes a lot of sense. Definetly for.
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Currently 3 of these pools are collecting YFI rewards.
21,201 YFI rewards are already in circulation, half of which is staked, so consolidation of those circulating YFI within staked voting pools is important.
There are 51.5% unstaked YFI of total circulation that potentially can be used for vote delegation.
Total YFI amounts in BPT staking pools stands @ 10,293 YFI
Pool #4 YFI yGov fee rewards pool 7,579 YFI
Pool #3 yCrv-YFI yGov pool 1,668 YFI
Pool #2 DAI-YFI BPT pool 1,046 YFI
Pool #1 collects YFI rewards when staked
but pool makeup has 0 YFI
Other smaller pools with YFI holdings > ~40%,
with amounts of < 50 YFI
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I too believe that a weight-based YFI governing system would be the best, as YFI would remain as the governance token, while exploration of its other utilities would not be bounded by simply voting.
I am For YIP 10, in the hopes that this will be the leading step to that very future.
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Agreed. Transition of governance to YFI holders is preferred.
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Agree with FOR but I also believe that yfi_whale is right with the voting delegation. I prefer voting delegation over reducing quorum. Reducing quorum will give more power to big holder vs delegation.
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I agree that delegation is a good quorum solution, but it takes a lot of time to implement, so lowering the quorum is a good interim solution for a while.
5 Likes
Fruitful discussion, keeping tabs: YIP 10 ends in less than 43 hours.
5,768,087 further votes are required to pass 33% quorum.
Total votes will need to increase by another 65.83%,
YIP 10: @ Block #10535987
~Sun Jul 26 2020 03:43:20 PM +UTC
https://etherscan.io/block/countdown/10535987
Click on the Notification bell for alert when the block is mined!
Consider also making your voice heard, discussion on reducing quorum on: YIP 12: reducing the quorum for accepting proposal
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This is a good proposal, and more people should vote yes, as I just did. Letās get the governance scheme working in the short term, then move onto the incentive scheme once that point is clear.
Hi,
I do think that the pool creates a risk of stable-whale takeover, but is it fair to ask those who actually participate on governance by staking their tokens on pool3 to dilute their own voting power in favor of those who didnāt risk it and are just holding the YFI?
If YFI holders want to vote with YFI, they should put their tokens in pool3 and make it so.
Any YFI tokens that came into existence came from liquidity mining. Everyone had to take a risk to mine YFI (Pool#1, Pool#2 and Pool#3). Those who bought it, bought from those who gave away governance rights. Every YFI holder should have the right to govern the protocol.
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why not directly FOR a proposal directly like this one
which was closed by
while BPT holdersā interest is just ignored in such rough way , why proposal 10 should be supported ?
Hope everyone votes on this proposal, we are still a bit short of reaching quorum. We are now at 19.16% quorum. https://ygov.finance/vote
p.s. after you vote, you can stake for the extra income.
3 Likes
To make it clear: that discussion was closed to push most voted answer as proposal on-chain.
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This is an absolute no-brainer for me. Iām FOR YIP 10.
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And they do, go to pool3 and vote away 
It is very important people think holistically in terms of quorum when evaluating this proposal, as @yfi_whale smartly pointed out.
I have outlined the present danger of a high quorum that cannot be reached here:
1 Like