keep up the great work! 
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Great work from the team. Iāve be willing to help summarize proposals and main changes, because the unsaid part to all this is to have more people competing to push new strategies. We need people outside the current ecosystem to understand it and see the potential in becoming a strategist.
We will def need the brainpower, given the current landscape in yield farming. Challenging times, but also surviving times like these are the true long term moats for open protocols
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Question: On this page, https://snapshot.page/#/yearn/proposal/QmRKmXuEMaqY38ccvuZREmi6SfMxyhWQMT3mhJ6Cgfeqq9
it describes , "ā¦that a refactor of the Vault system to add these features would be an improvement . This is going beyond a refactor is it not? Hence the major versioning update? Sorry to be pedantic just catching up on this now, want to make sure that I understand the proposal.
Thanks for the work and vision!
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All addressed. Looks good!
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Can someone specify fee structure on v2? Are we are removing a withdraw fee? Iām a bit confused ā is it 1% split between gov & strategist?
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Finalizing the hard numbers will be a separate proposal, probably alongside the finalized design.
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Yes. So itās a refactor in the sense that itās not changing the core ideas or structure of Vaults and Strategies, or what their intended purpose is. However, it does add a number of desirable features, some of which are aiming to increase/smooth yields (multiple strategies, easier templates for making strategies) and others aimed at keeping the system safer (security improvements, simplified API, heavier duty testing now possible), so itās not a strict refactor in the technical sense.
I think overall it isnāt that large of a change from the userās perspective, but it does deserve the major version upgrade
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This proposal had passed the vote in Snapshot, and discussion has cooled off without any further action items (as I see it)
If people have further questions or comments, this document will be moved to the v2 Vaults repository
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Someone needs to dumb this down before any voting takes place. This thread is too intimidating. Unless this is the type of thing thatās best voted on by those that understand.
Iāve tried to read some of the technical posts and I find it beyond me. Iām not an expert by any measure but Iām certainly not ignorant of the space either.
New people are not going to get it, but perhaps the only thing they need is to feel-the-yeild
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Iām assuming there will be some form of summary to help the votersā¦but iām guessing that this should be a pretty straight forward vote to push throughā¦
If you donāt understand it you shouldnāt be voting. Do a little research to fully understand the project before you get involved in the voting process.
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Definite yes. Lets roll baby
@fubuloubu has there been any consideration for using GasToken or Chi Token to save on gas costs? I just saw that YFV is doing this for their vaults/strategiesāthey claim 50-60% reductions in fees using Chi.
Anything to save on gas costs (which sound like they are considerable) would be awesome.
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This can be explored, without having to go too in depth with the current design.
The way strategies work the harvest/reporting call is the most expensive. We want to keep this kind of complexity out of the core Vault, but Strategies can implement gas saving features if that improves price/performance cost
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Awesome!
And just to clarify to make sure I understandāthe way harvest() works (in terms of implementing a gas-saving solution like CHI), this could be done at the Strategy level as opposed to needing to be integrated at the Vault framework level, correct?
Thanks!
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This may be hearsay but as far as I know Vitalik isnĀ“t happy about the concept of CHI tokens at all. The economics behind it make people bloat the blockchain with spam contracts just to burn it when gas prices are high.
From what IĀ“ve heard they want to remove this functionality (reimbursement for SC destruction), hence CHI is probably not here to stay.
When it comes to saving GAS, we should definitely consider to port yearn to L2. As long as the ecosystem is bootstrapped and farming opportunities exist, we can join and provide the yield optimization.
On Matic there is already a lending protocol like Aave (EASY) and a DEX like Uniswap (Quickswap). Both provide liquidity mining.
IĀ“m not so deep into the other L2 networks but this one is a beast coming to life before our eyes. Transaction times 1-2 seconds and after over 200 tx I still didnĀ“t pay a full penny. Layer 1 GAS saving solutions simply cannot compete.
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Yes, thatās spot on! All harvest() implementation exists in the Strategy contract, so Strategists are free to optimise as they see fit. One challenge with this approach is that the CHI tokens that are burned on harvest() need to come from somewhereā¦ They could be sent to the Strategy contract by the Strategist, or minted by the Strategy contract when tend() is called assuming gas costs are within an acceptable threshold. Having them minted by the contract on tend() is probably a good idea since tend() is part of the Strategy Interface and therefore itād be easy to calculate gas cost reimbursements for CHI minting.
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I agree that we should look into L2 solutions and see if they can help out yearn in some way.
My current L2 fav pick for yfi in bridge scenario :
Honey Badger BFT with Boneh-Lynn-Shacham signatures and bride with ETH-to-xDai Bridge, AMB bridge for projects,
all the way.
How would you port Yearn to L2 though? Everything on L1 is composable which is what makes yield farming so powerful. When things start breaking into different L2s the complexity explodes and the bridging between L2s is non-existent afaik (have to go through L1 first), and if you need to pass through L1 to reach another L2 you are still going to hit gas fees on L1 which nullifies the point.
If an ample ecosystem grows on a particular L2 that supports smart-contracts, where yield opportunities arise, it would make sense deploying a vault on just that L2, but shifting over Yearn totally over to an L2 makes no sense as far as I understand things right now.
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