Love & coordination at the frontier of governance: How Yearn minted $300 million
A core Yearn contributor gives the behind-the-scenes account of what may be the most consequential vote in decentralized governance history On February 2nd, at 6:00pm UTC Yearn Improvement Proposal 57 passed mandating that Yearn Finance, the decentralized and permissionless neo-hedge fund where I work, mint 6,666 new YFI tokens.YFI holders themselves passed this vote, with 83% voting in favor, and the highest engagement since Yearns now-mythical fair launch. The effects of this new twist in the story of DAOs of what may be the most important governance action in the history of DeFis most....
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Its been a heady few weeks for commerce and art.Surely a revolution is afoot and were too mired in the hot mess to see it right.With that proviso, here are two notes from the front lines. NFTs are cutting-edge, digital art aintSome folks say the non-fungible token (NFT) that allows a digital artwork to be possessed exclusively by a purchaser is traceable to the creation of Colored Coinsin 2012 or to CryptoPunks in 2017 even though the this market exploded just the other day.A page from Jules Antoine LissajoussA Study of the Optical Representation of Sound Vibrations, 1957 But digital art....
DeFi protocol Yearn.Finance repaid victims of its $11M hack by opening a Maker vault with YFI tokens from its newly expanded treasury. Major decentralized finance protocol Yearn.Finance (YFI) has restored its yDAI vault in the aftermath of a $11 million exploit by hackers.Yearn announced Tuesday that they opened a Maker vault with YFI tokens from the treasury and minted 9.7 million DAI tokens from the vault to keep the yDAI vault intact. Using borrowed money allows the project to reimburse users without taking a hit to the treasury, either due to possible YFI appreciation or by gradually....
Yearn Finance beat Bitcoin in the race to claim $20,000 all over again. The protocol’s governance token YFI surged to $20,770 during the early Tuesday trading session. Its move upward brought the price up by 178.42 percent from its early-November nadir, confirming the beginning of a strong rebound that followed an 83 percent crash. Yearn […]
Bitcoin in DeFi gets a promising boost as two major yield vault projects join forces Today, Bitcoin-on-Ethereum yield vault project BadgerDAO and fellow yield vault platform Yearn.Finance announced a partnership designed to bring Yearn’s sustainable vault expertise to Badger. “Today we’re excited to develop a partnership that will bring our teams together to further accelerate best in class BTC vaults for the industry,” BadgerDAO said in a blog post. “This is a step to further secure users funds as we continue to introduce more Yearn developed, maintained and secured vaults to our....
Yearn.finance’s price has seen some turbulence in the weeks following its intense rally to all-time highs of over $40,000. The governance token for the Yearn ecosystem – YFI – has been largely consolidating in the time since, with both buyers and sellers being unable to spark any sustained trend. This may be due to YFI […]