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And forever. Finance has launched a new initiative to halve the supply of YFI every week and increase the governance of YFI holders

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YFI holders are gradually improving the governance system

Since its launch, DeFi yearn. Finance has launched several proposals to advise on its governance mechanism.

The recently launched Governance Proposal 8, which ends July 25, considers a bitcoin-like halving mechanism to adjust the distribution of governance tokens YFI. The sponsors said they supported Proposition zero, which raised the total number of YFIs to 30,000, and Proposition 8, which builds on previous proposals.

The reason is that continuous incentives for liquidity providers are important to the development of the platform. YFI mining will soon be over, and the entire encryption community will need more time to understand this complex mechanism. YFI cannot produce effective market pricing in such a short period of time. Stopping YFI mining will immediately lose a lot of liquidity, which will have a huge negative impact on YFI prices.

The sponsors propose to halve the allocation of YFI incentives to the three pools. For example, in The first week after the proposal is passed, the amount of reward can be allocated to 100 million YFIs; in the second week, it will be halved to 5, 000 YFIs; in the third week, it will be halved again to 2, 500 YFIs. And so on until the reward is allocated.

The proposal received 2.845 million votes with 82.7 percent of the votes cast. & have spent & have spent

The halving plan offered by the proposer

And on July 24th Yearn Finance launched motion no. 10, which aims to gradually transfer voting rights to YFI tokens.

According to the proposer, in addition to accepting YFI as voting credential, the current voting Smart contract also accepts yCRV and BPT tokens in Balancer to participate in governance. That may put the return of the people at risk of a hostile takeover. DeFi project governance shall be determined by the holder who has the most long-term interest in this Agreement namely the YFI token holder. The vote is now 98.66 percent, with a deadline of July 27.