DRAFT - Proposal - Change YFL staking reward to YFLUSD

Hello folks,

happy to be here as a proud YFL holder. I like the LINK-focus of this comunity and would like to propose an economic improvement.

Keep up the great work!

Abstract:

Change reward currency for YFL governance stakers from YFL to YFLUSD.

Motivations:

Increase buyside pressure on YFLUSD to support its peg and move it towards 1 USD.
Make YFL holders more interested in the success of YFLUSD.
Make YFL stakers´ return on investment less reliant on the price of YFL because you get a stable coin.
Make YFL stakers´ income more predictable.
Increase YFLUSD´s significance on LINKSWAP.
Increase YFLUSD´s liquidity continously in the long run.

Specification:

Add new functionality to the governance staking smart contract and remove the old mechanic.

New:
Add a “harvest” function.
Use transaction fees from LINKSWAP pooled in the YFL governance pool to market-buy YFLUSD in equal proportions from the pairs ETH/YFLUSD and LINK/YFLUSD whenever someone triggers the “harvest” function.
Distribute this YFLUSD to stakers when someone triggers the “harvest” function.

The “harvest” function is automatically triggered, whenever someone stakes YFL or withdraws stake from the YFL governance pool.

For:

Make the changes

Against:

No changes

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Any comments and ideas?

Neat idea! This would definitely create the much-desired buy pressure for YFLUSD, so great initiative on that front!

The initiative would bind YFL and YFLUSD closer to each other, which would be desirable if the YFL core team had a stronger interest in building up on the YFLUSD project. Late developments however seem to be going in the opposite direction, where the YFL core team is distancing itself from the YFLUSD project and is seeking to kickstart a new team to take over the development of YFLUSD :thinking:.

I will link this proposal to the #yflusd channel on our Discord, to see if we can get more comments on this.

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