11 key contributors to the DeFi project yEarn.Finance have proposed increasing the YFI offer by 6666 tokens (~ $ 200 million). The funds will go towards rewarding core developers and creating a contingency fund for distribution under community supervision.
Yearn contributor token allocation discussions are on-going on our governance forum. @dudesahn has compiled data of team token allocations for other protocols in DeFi.
We encourage you to join the discussion and participate in governance.https://t.co/GT4dp3Slen
— yearn.finance (@iearnfinance) January 20, 2021
A third of the 6666 YFI ($ 67 million) is earmarked to reward early investors and developers. Funds will be distributed according to the schedule vesting.
Two-thirds – 4,444 YFI ($ 134 million) – will be allocated to create a reserve fund under the control of the yEarn.Finance operating fund.
The funds from the reserve fund are intended to finance the following areas:
creating incentives for developers;
liquidity mining programs;
staking rewards;
attraction of specialists and absorption of third-party protocols;
cross-protocol incentives to strengthen collaboration across the project ecosystem.
The authors of the initiative believe that through the implementation of the proposal, yEarn.Finance will be able to retain existing and attract new developers, as well as maintain a competitive position in the sector. Protocol users will be able to coordinate their interests with large token holders and directly influence the development of the DeFi project, the authors of the initiative believe.
At the time of writing, 252 members of the yEarn.Finance community have voted. 69% (176) of users supported the issuance of tokens and their distribution between developers and the reserve fund.
Data: Yearn.Finance.
As a reminder, in December 2020, yEarn.Finance announced the acquisition of the DeFi exchange SushiSwap. Previously, yEarn.Finance was integrated with Cream landing protocol, Pickle Finance project and Argent wallet, Akropolis project and Cover Protocol peer-to-peer insurance market.
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