Snapshot vote is live!
Very interesting; kudos to tracheopteryx and lex_node for their thought leadership here. Certainly in favor of the proposal. One question though - it appears there are two groups which have the authority to spend money: the YFI holders (via treasury appropriation) and the yBudget team. Are these not in contention? Or is the yBudget allocation determined by the YFI holders?
Hey all, thanks for the comments and warm reception for these ideas. I’ve been floored by how positive the response has been, and so excited to keep working on this.
I want to respond to a few of the ideas brought up in comments, on twitter, and telegram. First: this is an iterative process. We do not have everything figured out. There will be problems and gaps and scores of details to improve on. This structure is properly alive. I do not mean that figuratively. We are at the start of something here, something that needed a system like yearn to take seed and grow roots. Gov 2.0 is designed to be flexible and adapt as we iterate and improve the relationships and processes embodying it.
Decisions
Gov 2 at this stage encompasses only on-chain decision making. There are far more decisions that happen off-chain, such as me choosing which words to write here, a designer picking a color for the v3 website, or the docs team choosing to migrate off of gitbook. I have been working on a framework for those kinds of decisions too, and hope to share in the near future, but for now I just want to clarify this proposal is scoped to on-chain only. That’s why there is no yBrand yTeam. We needed a starting point, and this is the best one. Anyone can form a team to work on anything for yearn, and if they encounter on-chain decisions they want to control, they can use gov 2 to write a YIP, ratify a yTeam, mint a new power, and get to work. For gated off-chain decision-making powers, like write access to yearn’s twitter, until we grow a better system, for now we must wade through the jungle of telegram groups, active doers, and the natural, shifting hierarchies that have emerged within yearn’s core.
Comms & Reporting
This has been such an interesting challenge for yearn since the start. In retrospect, it’s obvious. Of course a decentralized network of independent doers is going to be challenged in the output of coherent and simple narratives that clarify its multifarious workings in easily digestible format. We have tried so many things! We have docs, newsletters, active twitter accounts, published meeting notes, and more. But we haven’t cracked this yet. Sure, defi is by its nature fast moving and hard to model, but that’s a wonderful challenge! We can do better, and we will.
I welcome ideas. Beyond the above, we are actively discussing full-time marketing and comms roles with a few candidates.
For now, should this YIP pass, it will be up to each yTeam to communicate their process to the larger community. Should YFI holders feel a yTeam is not communicating well enough, they have a few levers to pull. They can raise the concern on telegram, twitter, discord, or the forum. They can do a YSP to suggest a better reporting system. Or they can do a YDP to remove power from an underperforming yTeam.
Spending Money
Think of this like multiple signers on a checking account. I don’t see a need to limit expenses to one organ, multiple powers can access the treasury for the various needs of yearn. If conflicts arise, we will discuss them. For instance, if someone does a YIP to spend 100M on a new project, the yBudget team would likely weigh in to explain how this would affect their budgeting, and then should it pass, they would have less money to work with. Each organ adapting to the needs of the others.
We are already seeing people propose new yTeams, for example yWaifu. If gov 2 passes, then YFI holders could vote to ratify yWaifu. But a team does not need to be ratified into a yTeam to spend money – YFI holders or yBudget can allocate money to any group for any purpose. If YFI holders want yWaifu to have a specific, on-chain decision-making power, then they would need to do a YIP to create that power and delegate it to yWaifu. I don’t see a need for this group to have a specific on-chain power, but I haven’t thought a ton about it yet. If yBudget allocated a recurring budget to yWaifu to curate waifu art, they could get that budget as a monthly payment to an EOA wallet to do with as they please, or they could be asked to submit payments to the multisig, and both systems would be under the supervision of yBudget and YFI holders in general.
(And fwiw, I am against the continued asymmetric sexualization of female bodies via anime characters but would love to see diverse and more interesting anime art created.)
Next Steps
Should this YIP pass, the next steps will be to onboard the initial set of yTeams, designate their signers, and get rolling. As described in the proposal, there are already people doing this work in emergent teams, what we will need to do is just better organize and define all that in alignment with the spec. Then we shall push the buttons and pull the levels and steer this ship under new clarity, charting a better course through these murky waters.
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