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Difference between revisions of "Yearn Finance"
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* 10% of the generated yield fees by all strategies (performance fee) goes to the Yearn DAO treasury. | * 10% of the generated yield fees by all strategies (performance fee) goes to the Yearn DAO treasury. | ||
* Over the year 2% of the vault’s total assets are taken as fees which go to Yearn to pay for expenses like gas, developer grants, and other services. | * Over the year 2% of the vault’s total assets are taken as fees which go to Yearn to pay for expenses like gas, developer grants, and other services. | ||
== YFI token == | |||
In July 2020 the YFI token was introduced as a way for Andre to decentralize control of Yearn by distributing 30.000 YFI tokens. The 30.000 YFI would be distibuted only to uses who provided liquidity on Yearn. With no pre-mine, no pre-sale, and no allocation to the team, YFI set a standard for the most decentralized token launch (Fair Launch). | |||
As the governance token of Yearn, the YFI tokens allow holders to vote on various decisions proposed by community members. Starting with Yearn improvement proposal 36 ([https://yips.yearn.finance/YIPS/yip-36 YIP-36]) a portion of staking rewards were used to cover operational expenses and reward token holders. [https://snapshot.org/#/yearn/proposal/Qmb6gBzjvgLMazSrQQGVcjutLNdkVyM2Lh6yckMzdoaHWZ YIP-56] disbanded the staking system in favour for a buyback system. | |||
== Links == | == Links == | ||