YIP: Drop Treasure Vault Tax Rate to 1% from 10%

Basic Summary/Abstract

Drop treasure vault tax rate to 1% from 10%. Every time to raise any tax rate need to go through a community voting process.

Motivation

Make Yam Great Again!

Risks

There is enough funding in the existing vault to start the first phase I projects, there is no risk.

Specifications

The tax rate starts at 1%. In order to raise the tax rate, the core team has to start a new voting proposal to get the majority of the community to agree with.

Poll

  • For
  • Against

0 voters

1 Like

10% tax rate has not agreed by the yam community yet. Let’s drop it to 1% first and we can vote to raise it in the future.

Can you provide some more information on why you believe this will help YAMs price and market cap, and if you think there are any other benefits to lowering the treasury purchase amount?

I personally believe this will do more damage to YAM than help it, especially as such an aggressive change from 10% to 1% shows an extreme lack of faith in the project’s mechanisms. A 1% treasury purchase will do very little to grow the treasury, which is YAMs core value proposition.

Essentially, YAM will always be trading at some multiple of its “book value” or value of the treasury. The smaller the book value, the harder it will be for market cap to rise. Purposely limiting the growth of the book value/treasury does not seem advisable.

7 Likes

Against. The treasury mechanisms has already been altered once, it needs to be altered gradually and according to the market situation. Do an aggressive nerf doesnt help anything.

5 Likes

1% tax rate is high enough

2 Likes

I am against this proposal. The main value proposition of YAM at the moment is the treasury. Limiting the growth of the treasury is detrimental to the project.

I would also like to point out that tax is a misnomer. The 10% isn’t a tax, since it isn’t given to a 3rd party. It’s deposited to the treasury, which YAM holders control. I think lowering the treasury rebase allocation from 10% -> 1% is very short sighted and will greatly reduce the rate at which YAM can grow.

5 Likes

I am also against this proposal. YAM treasury is of great importance of this project. Reducing it immediately to 1% is a pretty silly move. We need to check if the 5% slippage works first.

5 Likes

Disagree. The treasury is what makes yam yam

4 Likes

反对,yam金库刚刚改完,还没有验证就再次更改,这不符合逻辑

2 Likes

Against. Too aggressive change. Treasury plays a bug role in YAM.

2 Likes

I’m not in favor of a reduction of the 10% rebase inflow to treasury at this time.

We should study this carefully as the Treasury is the heart of our project.

We also need to consider the effects of Rebase Lag slowdown and Slippage % Reduction first.

3 Likes

I paid my personal money to big brother which is still used in America which is called tax. The same thing here!

The market cap trend has proved that this mechanism was a mistake from the beginning, a huge mistake, how did you get the conclusion that the (YAM will always be trading at some multiple of its “book value” or value of the treasury. The smaller the book value, the harder it will be for market cap to rise) ,By your poor imagination ?

1 Like

I suggest you keep it civil or you will be banned. Phrases like “By your poor imagination” have no place here. You’ve been warned.

Statement of facts is also regarded as uncivilized performance? It’s really a funny place. If it is a dictatorship, why should there be voting governance?

The current market has proved that yam has been a failed project. This is a long-term project. Why care so much about the short-term Treasury growth? Before the Treasury is profitable, taxes should be reduced, funds will be considered for re mobilization, and the Treasury will continue to increase in value. When the Treasury has the earning power, it can expand the tax proportion, because the Treasury can bring income, and no one will object to it

1 Like

Do you think it is better to stop the growth or slow the growth, or do you think the Treasury of 3 million is enough? It seems that yam is not a short-term project. The tax rate of 1% will become larger and larger when there are funds. When the Treasury can bring benefits to people, we can consider increasing the Treasury tax rate, because it can bring benefits to people, and no one will Objection to additional benefits

People are not stupid. At present, it is tantamount to donating to the Treasury unconditionally. At present, the Treasury has no ability to make profits. Instead, it may lose money. Slow growth is better than stopping growth. This proposal will make yam great again. If implemented, many people will consider holding yam for a long time. When the Treasury has the ability to bring benefits to everyone, yam will be great again and the team will get more profits

I support it. Once we can increase yam supply for compensation. We also can modify the treasure rate .

And when the mcap of yam grows, the treasure rate can grow again by vote

I’m not sure what you mean by “enough”. The main value proposition of YAM is the treasury, and encouraging growth of the treasury. No amount of money in the treasury is “enough”, we want it to grow as large as possible in a sustainable manner.