YIP-30: YFI Inflation Schedule
| Metadata | Details |
|---|---|
| YIP | 30 |
| Outcome | Rejected |
| Authors | substreight, deltatigernz, Graadient, Daryllautk, yfi_whale |
| Created | 2020-07-28 |
| Forum discussion | View discussion |
| Snapshot vote | Not recovered |
| Vote result | No Snapshot vote recovered. |
| Source | Source |
Simple Summary
Implement an inflation schedule of 20,000 YFI over the next 8 years, with 12,802 distributed in the first 3 years, ending with a trailing tail of 1% inflation.
Abstract
- Update the YFI mint contract to reflect new inflation schedule.
Motivation
To create an inflation schedule after the passing of YIP-0.
FOR: Implement an inflation schedule of 20,000 YFI over the next 8 years, with 12,802 distributed in the first 3 years, ending with a trailing tail of 1% inflation.
AGAINST: No changes.
Specification
Overview
- Adjust supply schedule to follow [YFI Inflation Schedule].
- Beginning annual inflation: 22.384%
- Weekly emissions reduction multiplier: 0.9937
- Week that terminal inflation starts: 416 weeks
- Fixed % ongoing inflation (tail emission): 1%
- This model will stay in place until it is stopped or adjusted.
Rationale
- Liquidity provider yields are maintained at reasonably competitive levels in various YFI price and TVL scenarios (see modeling sheet).
- Lower initial inflation (22%) to keep long-term rewards reasonable.
- 8 year emission schedule to support long-term development.
Reference: synthetix/contracts/SupplySchedule.sol
Metadata
| Name | Value |
|---|---|
| Proposed by | 0x2D407dDb06311396fE14D4b49da5F0471447d45C |
| Total for votes | 3380.7051 (38.73%) |
| Total against votes | 5346.6313 (61.26%) |
| Quorum | 82.39% ✔ |
| Start block | 10560113 |
| End block | 10577393 |