Eleven key participants in the DeFi project yEarn.Finance proposed to increase the emission of YFI by 6666 tokens (~ $ 200 million). The funds will go towards rewarding core developers and creating a contingency fund for distribution under community supervision.
A third of the 6666 YFI ($ 67 million) is earmarked to reward early investors and developers. Funds will be distributed according to the vesting schedule.
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 founders of the action believe that through the implementation of the proposal, yEarn.Finance will be able to maintain 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.
Trending: Smart Contracts Audits Startup Hexens Closed $4.2 M Seed Funding
252 members of the yEarn.Finance community has voted, and 69% (176) of users supported the issuance of tokens and their distribution between developers and the reserve supply.