DAO-ops: YIP-88 delivery report and completion bonus
Authors: DAO-ops, 0xPickles and 0xkorin
Reporting period: October 2025–October 2026
Requested allocation: 29.850746268656716417 YFI, comprising 20 YFI for DAO-ops and 9.850746268656716417 YFI for the Yearn Builder’s Collective
Payment: One batched payment upon approval and eligibility for execution, without vesting or streaming
Summary
After four budget periods and a year of work, DAO-ops considers the core implementation of YIP-88 delivered. The staking, migration, team accounting, contributor incentives, YBC and on-chain governance systems are live. The migration to on-chain governance is complete, with budget requests using the new system from the epoch beginning 15 October 2026.
We ask the DAO to recognize this delivery milestone and approve the completion bonus discussed with other Yearn teams: 20 YFI net to DAO-ops, plus the YBC contribution. At the current 67% team / 33% YBC split, the total request is 29.850746268656716417 YFI.
The detailed account of the final build period is available in the published BR4 status report.
This has been a demanding and rewarding year. Yearn now has the infrastructure to run its new budget and governance process on-chain, connecting token holders, builders and DAO operations through public accounting and binding votes. That is a milestone worth celebrating. Our work now is to make these systems easier to understand and use, and to help more people participate in Yearn governance.
From YIP-88 to a working governance system
YIP-88 set out three connected changes: restructure DAO operations and accountability, replace veYFI with the stYFI framework, and introduce contributor and team incentives. DAO-ops was responsible for implementing the contracts, interfaces and processes.
The work developed across four budget periods:
| Period | Main work and outcome |
|---|---|
| BR1 — October 2025–January 2026 | System architecture, technical specifications, initial stYFI contracts and interfaces, migration design, and coordination of Season 2 contributor vests. |
| BR2 — January–April 2026 | stYFI and migration launch, with epoch 0 beginning on 5 February 2026 at 00:00 UTC; development of team accounting, bonuses and YBC; tooling and alerts; yETH recovery contracts and interface. |
| BR3 — April–July 2026 | Teams and YBC audits, deployments and interfaces; integration of accounting and incentives; development of the final governance, voting-weight and boost components. |
| BR4 — July–October 2026 | Completion of the governance rollout and transition to on-chain proposals and BRs; further Teams and YBC improvements; the Treasury dashboard, deeper reconciliation work and the Discretionary Fund proposal. |
Staking, migration and rewards
The system supports direct staking, delegated staking through stYFIx, withdrawal cooldowns, reward claims, voting-weight accumulation and rewards for governance participation.
We delivered veYFI opt-in migration and reward mechanics, together with liquid-locker staking and redemption facilities for Stake DAO, 1UP and Cove.
The public interfaces are stYFI and veYFI. Their underlying contracts include StakedYFI, DelegatedStakedYFI, the Reward Distributor, the veYFI Reward Distributor and Liquid Locker Redemption.
Team accounting, funding and incentives
The Teams app gives contributors and voters access to on-chain revenue, funding, expenditure and profit-based YFI bonus records.
This work includes the Team Registry, Team Accountant, Revenue Recipient, Funding Distributor, price oracles and the Bonus Distributor.
We helped teams adopt the accounting and budget process, configured their contracts and coordinated transactions.
The Yearn Builder’s Collective
The YBC app and its contracts provide the contributor pool, membership management, elections, staking-based weights and reward distribution. YBC participation also directs the collective and delegated voting arrangements in the governance system.
The deployed components include YBC, YBC Election, YBC Weight Aggregator, YBC Reward Distributor and the YBC Bonus Recipient, which stakes incoming bonus YFI for the pool.
For Season 2 vests, we coordinated the process and published the criteria and allocation framework. Pickles served as the committee’s non-voting secretary; allocation decisions and sign-off belonged to the committee and yChad.
On-chain proposals, voting and execution
The DAO app supports proposal preparation, publication, action review, voting and execution.
The system connects Governance Voting, Voter, Executor, voting-weight measurement and the Vote Boost Reward Distributor. The new BR process uses six 14-day epochs, making each funding period 84 days.
Token holders exercise binding voting power, builders participate through their own stakes and the YBC, and yChad retains the defined safeguards. Revenue teams remain autonomous, with their funding and performance open to DAO scrutiny.
The contract repository and deployment manifest provide the complete address list. The governance-apps repository and merged pull requests document the interfaces and their development.
Evidence of use
In just over eight months, participation in the stYFI system has reached about 7.7% of YFI supply, roughly double the ~3.8% locked in veYFI when YIP-88 was proposed. Across direct staking, migrated veYFI and participating liquid lockers, the new system now accounts for 2,812.43 YFI. Historical comparison: YIP-88 Part II.
Figures checked on 14 October 2026, following the stYFI launch on 5 February 2026:
| Measure | Observed activity |
|---|---|
| YFI staked in stYFI | 1,389.25 YFI, excluding unstaking balances. |
| Delegated staking | 431.03 YFI held through stYFIx. This is included in the stYFI total above. |
| veYFI migration | 90.17% of the veYFI-locked YFI tracked by the migration dashboard has opted into the new system: 921.77 of 1,022.26 YFI. |
| Liquid-locker participation | 501.42 YFI equivalent staked through the Stake DAO, 1UP and Cove facilities. |
| Team accounting | 5 registered teams, with 3 finalized bonus periods. |
| Bonuses already claimed | 54.65 YFI gross across three revenue teams, including 18.03 YFI contributed to YBC. |
| YBC | 22 active members and 218.03 stYFI held by the pool, included in the overall staking total. |
| New on-chain governance | 2 proposals in voting. |
Sources: staking and migration, Teams, YBC and DAO production data, with staking balances checked on-chain.
Work delivered alongside the overhaul
Treasury visibility and reconciliation
BR4 committed to beginning a treasury dashboard. We delivered the live Treasury app, with a public view of assets and financial information, and advanced the research and reconciliation substantially beyond that starting scope.
Historical reconciliation remains incomplete, and a one-to-one reconstruction of every past record may not be possible. We will continue expanding coverage, including the Discretionary Fund once its on-chain accounting is in place.
yETH recovery
We delivered the yETH recovery contracts and interface under the separate YIP-90 recovery plan. The implementation includes the Claim contract, Recovery Vault and Yield Vault. Holders can review their entitlement, claim, choose an immediate exit or remain in the programme, and manage their recovery position.
By 14 October, the claim contract recorded 55 claiming addresses, representing 90.14% of registered claim value. Of those claims, 39 entered the recovery vault and 16 chose an immediate exit.
Security and ongoing operations
The build also required testing, audit coordination, review fixes, deployment work, data feeds, alerts, infrastructure maintenance and day-to-day treasury and governance administration.
Published component reviews include yAudit’s Teams report, YBC report and governance report.
DAO-ops’ core implementation team has been two people, 0xPickles and 0xkorin, supported by SAM, external auditors, yChad, reviewers, liquid-locker teams and other Yearn contributors.
Why the bonus was deferred until completion
We expected to finish the main implementation within three BR periods. Completing the governance rollout required a fourth, and the work demanded considerably more time than anticipated.
Early versions of BR1 and BR2 included milestone-based YFI bonuses, removed in January 2026. In calls with other Yearn teams, we agreed to defer the bonus until completion, at 20 YFI net to DAO-ops. This proposal seeks the DAO’s formal approval for payment.
Deferring the bonus removed pressure to rush security-sensitive work to meet quarterly deadlines. Audit schedules and peer review were not entirely within our control. Payment would depend on delivering the system, with the time needed to build and review it carefully.
Completion and continuing responsibilities
The core build is complete. The following work continues:
- Discretionary Fund accounting: deploy the dedicated on-chain accounting and add dashboard coverage after the separate proposal passes. The fund has operated under yChad; its accounting proposal was still in voting at the reporting cutoff.
- Treasury reconciliation: extend historical accounting and coverage of assets and commitments.
- Ongoing obligations: operate legacy redemptions, rewards and vesting administration, and assess and pay any yield-backstop obligations.
- Maintenance and security: improve UX, monitoring and automation, and conduct further reviews. The broader system audit contemplated in BR3 and deferred yRoboTreasury work are outside this completion claim.
The DAO-ops project board remains the source of truth for work, priorities and progress. Ongoing funding is requested through separate BRs.
Requested allocation and payment
This is a one-off Treasury allocation denominated entirely in YFI for DAO-ops’ completion of the work.
YIP-88 Part III specifies a default 67% team / 33% YBC split, which remains the live Bonus Distributor configuration. Applying that split gives:
| Recipient | Allocation |
|---|---|
| DAO-ops | 20 YFI |
| YBC, deposited as stYFI for the collective | 9.850746268656716417 YFI |
| Total Treasury allocation | 29.850746268656716417 YFI |
The total is 20 / 0.67, rounded down to YFI’s 18-decimal precision, leaving exactly 20 YFI for DAO-ops after the YBC contribution.
Execute the award as one batched Treasury payment to the DAO-ops wallet and, through the YBC Bonus Recipient, the YBC pool. Release it as soon as the proposal is approved and eligible for execution, with no vesting, streaming or additional milestone delay.
We do not anticipate further completion bonuses. We are satisfied with our ongoing BR compensation and will continue operating and improving the system on that basis. A future overhaul of comparable scale could justify a separate proposal.
Vote
For: Recognize the core YIP-88 delivery milestone and approve a one-time Treasury allocation of 29.850746268656716417 YFI: 20 YFI to DAO-ops and 9.850746268656716417 YFI deposited as stYFI for YBC, payable upon approval and eligibility for execution without vesting or streaming.
Against: Do not approve this completion award.