YIP 35: Distribute Donations vs Purchase YFI
| Author | Andre Cronje, Klim K |
|---|---|
| Discussions-To | https://gov.yearn.finance/t/distribution-donations-vs-purchasing-yfi/2244 |
| Status | Implemented |
| Created | 2020-08-10 |
Simple Summary
Allow donors who donated to claim back donations or leave them to be used to purchase YFI.
Abstract
While I am very appreciative of the donations, the article was a gross misrepresentation of our discussion. I am not in financial detriment, I do have debt, but I have assets in crypto to offset my fiat debt. I am simply not interested to swap my crypto to fiat, since I value my crypto more than fiat.
As such, I propose a small system, whereby donors can claim back their donations, should they wish. If however they do not claim it back by x date, then the funds (currently $150,000) will be used to market buy YFI. I wish to use this YFI as a governance vote and we can also use it to incentivize other events or requirements.
Motivation
Having spoken to donors, its a mix of “use it for the protocol” vs “it is an insult to return it”, so I wanted to come up with a new solution that benefits all participants.
FOR: Build the claim back and purchase system.
AGAINST: Return the donations.
Specification
I will implement a simplistic contract that allows donors to reclaim, should they not wish to do so, after maturity date, YFI will be purchased and staked in governance.
Metadata
| Name | Value |
|---|---|
| Proposed by | 0x74630370197b4c4795bFEeF6645ee14F8cf8997D |
| Total for votes | 1644.3648 (93.59%) |
| Total against votes | 112.4983 (6.40%) |
| Quorum | 37.43% ✔ |
| Start block | 10633099 |
| End block | 10650379 |
Source: yieldfarming.info YFI Governance Information
Copyright
Copyright and related rights waived via CC0.