Let's get to v3 ASAP (focus on blockers)

TLDR:

  • We need to get to v3 ASAP
  • Let’s bump up the “end” timeline a week (from Sep 7 to Aug 31)
  • The only essential v2 governance matter remaining is to decide delegator rewards

Speed Matters

Every day, every week that goes by is an eternity in “crypto time.” The market cycles move so fast. Crowds move on to the next shiny thing. The longer it takes for a project to ship, the more stale it becomes. We have solid-ish momentum now, the community is engaged, let’s keep things moving forward.

Focus on the “blockers” to v3

I believe this v2 governance period should only vote on the absolute essentials. MVG, minimum viable governance. Anything that can be voted on in v3 governance should wait until that time. We need to ship v3. To do that, we need to finalize the key protocol changes, get the code complete, and start audit process. Let’s stay focused on shipping. Until we ship, there is no treasury. And our YAM is crusty and mostly worthless (due to lack of liquidity).

The Essentials

YIP 2 covers most of the essentials. And YIP 9 is another good one. The most contentious issues remaining are:

  • 1M community fund
  • Delegator rewards

With where YIP 12 voting currently stands, and Trent signaling his support for that YIP, it’s fair to say that contentious topic will be resolved shortly. That’s good.

Delegator rewards is on ongoing debate. That’s okay. Let’s hash it out. Hopefully, our community comes out stronger because of it. I do not believe YIP 10 is the right approach – it completely ignores all the little fish (gas fees, no flat reward for everyone). I’m confident we’ll find something better soon enough though.

But is there anything else that should be debated in v2 governance? Any other blockers keeping us from moving to next phase?

Faster Timeframe

If there are no other major blockers up for debate, let’s speed up the timeline. The current proposal in YIP 1 is to have everything wrapped up by Sept 7. If we’re only debating delegator rewards at this point, there is no reason to need so much time. Let’s get everything wrapped up by Aug 31. That way Brock/team has a clear starting point of when they can start implementing protocol changes without fear of new proposals, new changes, etc. That gets us closer to code freeze, and that gets us closer to audits beginning.

Action Items

I think right now these are the main action items, but please comment if I’m missing anything.

  • Create a YIP for end date change
  • Create a YIP that says no other new proposals can be created other than related to delegator rewards. That’s the only outstanding “essential” item in v2 governance
  • And of course, let’s figure out delegator rewards.

Anything else?

Wrap Up

This v2 period is only meant to be a bridge, not a destination. Let’s keep moving towards our “eternal lands” of v3. Let’s not get distracted. I believe in the YAM fam! Let’s go!

17 Likes

Speed up progress, market heat is disappearing

3 Likes

Thanks for this great push @Wigglez! I wholeheartedly agree on keeping it simple in V2 and focus on shipping V3.

If delegator rewards / treasury are the only things on the agenda, moving up the deadline to seize the momentum is a good idea.

Let’s see first if more constructive YIP-2 related proposals / concerns surface in the coming days?

4 Likes

Very true, everyday we are loosing momentum as this process to get to v3 moving slowly

1 Like

Agree 100%.

Let’s get the YIPs for end date change and no other proposals started ASAP.

I don’t support the current proposals to upgrade delegator rewards but another one may pop up that I do support. I will keep a lookout for that one but other than that let’s move forward.

1 Like

100% agreed to speed up the entry into yamv3. The longer the time is, the more opportunities for the project are being lost. First enter yamv3, and then vote on the motion

we need ASAP to do this .
wtf they need rewards or others .
we just need V3 quicky

  • support v3 * publish
2 Likes

https://snapshot.page/#/yam/proposal/QmXxeHtsquFDpWGUYGnbCrn6H6xo1m8RsLWmssg9azp1bn
does it work?

2 Likes

Please start V3 immediately, stop arguing, shorten voting time, and implement the core proposal immediately. After V3 is implemented, all other new proposals will be voted on.

1 Like

agreed, I originally disagreed with the idea of a community fund. But now I see the convenience of having one.

There needs to be incentive for new comers and / or something to get the price fluctuating to jumps start rebases and get the protocol functioning as intended. I don’t know if a relaunch is quite what needs to happen, but maybe pick up from eternal lands with yam distribution rewards.

The community fund allows for 2 lines of sight. Growth in user base (community fund) and treasury use. If there is no community fund, incentives would have to come from treasury, which is fine. Its convenience and also segregation of goals.
That way we don’t have drastically different goals vying for bigger shares of the same fund. This would also encourage better fund management as once community fund pool uses up their capital there is no more to draw from or plead from the treasury for more.

Agree 100%. Please speed up it.

2 Likes

I agree that priority needs to be getting the minimum viable v3 up and running. My main reasoning for this is that until we have a treasury that is actively accumulating funds via positive rebase, bigger picture priorities will be challenging if not impossible to accomplish.

However, I think the keyword here is viable. We also need to make sure we’re not rushing to pull the trigger on a flawed v3 just so people can try to pull as much capital and profit out of the initial speculative rush as they can before it crashes and burns like v1.

So as impatient as everyone is, can we all agree that when the governance dust settles, we will make sure this thing is well-audited and that its basic mechanisms are functioning properly before hitting the green light? And can we agree not to give the dev team grief over doing their due diligence in that process?

3 Likes

Cannot agree more. Nothing is more important than V3. Please get the system up and running first.

2 Likes

Speed up V3 and ignore the garbage that wants triple rewards

1 Like

I think we can see a definate voice of people wanting it to be implementent quickly. Maybe a timeline might help alleviate some anxiety

1 Like

Suggestions to control the total quantity of the YAMV3 for 5 million, YAMV2 than one upgrade V3, use YAMV3 dig.

1 Like

OMG - the heat is dying down because there are other pointless coins popping up everyday! My Yam - 2 investment gonna go to shit! Let rush and ship v3 right away even though we rushed and shipped v1 and fucked it up so bad.

I have never seeing anything more hysterical in my life. You can’t even compare between this and YFI community, the difference isn’t not only in the community but the ethic of founders and devs. There is like 10 guys in here who got a big Yam-2 bag shitting their pant because there investment gonna go to shit.

What is the value proposition for new money to buy V3 Yam? You guys understand that you guys need new money to cash out right? Yam v2 got 3 mil coins, Treasury got 1 mil coins, new liquidity 1M, people who tried to save Yam end up with 300k. The sell pressure gonna be huge!

Yam was a hit because it launched with 0 coins mined - now you got 3m coins waiting to dump, new money gonna be tough!

3 Likes

Has push v2 forward, we can not split yam into v2 and v3