YIP-55: Formalize the YIP Process

I disagree on this point, and think it’s important to emphasize the difference between normal changes to the protocol and YIPs. We’re not using YIPs to vote on every single new strategy or PR, we want to use them for major shifts that affect how Yearn functions, and especially changes that the author wishes to receive feedback on.

Realistically, Yearn’s core dev team has leeway to do as they see fit, as long as the multisig doesn’t oppose them on it. This allows us to iterate quickly on issues that we need to such as emergencies like shutting down earn calls on the GUSD/TUSD/DAI vaults, but also not drowning voters in minor changes such as updating the Curve yVault icons.

But if we use the most recent mega-proposal as an example: it was first proposed 12 days ago, and received significant feedback that it needed to be split up so that it was multiple, more granular proposals. The first of these proposals went live four days later, with the third of four currently being voted on.

My point being that while the authors of that proposal had been thinking and working on it for a while, it still got better with community feedback! And to give good feedback, you may need more than a few hours to think about something and to iterate on the proposal. And realistically, since all of Yearn’s governance is happening off-chain, this is the only real benefit that Yearn’s DAO can provide currently—ideas and feedback. So if we’re not open to giving time for feedback and input on YIPs, then what’s the point of governance?

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