YFI Buyback, EIP-1559 Updates, and Badger V2

Decentralise #85

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YFI Buyback and Build

banteg @bantg

Proposal: Buyback and Build

gov.yearn.finance[Proposal] Buyback and BuildAuthors @banteg, @lex_node, @lehnberg, @milkyklim, @RyanWatkins, @tracheopteryx Summary Use YFI staking rewards to buy back YFI on the open market. Use bought back YFI for contributor rewards and other Yearn initiatives. Retire the YFI governance vault as it no longer has a use, opening up for it t…

A new proposal from Yearn members would replace the governance vault with a buyback mechanism. It’s hypothesised that this model may be especially effective for YFI given the fixed 30,000 token cap.

Bought YFI would go to the Operations Fund (YIP-54) to be reinvested in the protocol’s growth.

The proposal follows a recent news from Andre Cronje’s Stable Credit that could see YFI permanently burnt to create wYFI.

banteg @bantg

@EthereumEhrlich

PieDAO

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PieVaults are a new product range, diversified yield aggregators capable of multiple farming strategies. The first PieVault YPIE gives complete exposure to the Yearn Finance Ecosystem.

Mint YPIE gas-free with Oven.

Cover Protocol Founder’s Interview With defiprime

Cover Protocol @CoverProtocol

An interview with our very own @chefcoverage! Give it a read! Thanks for the opportunity to speak @defiprime

defiprime @defiprime

Interview with Cover Protocol co-founder 🔥 Alan @chefcoverage told us what is Cover Protocol, how peer-to-peer coverage marketplace different, and who determining coverage premiums in a decentralized protocol. #defi #ethereum https://t.co/DdOvqfjtle @CoverProtocol

Cover Protocol founder Alan was interviewed by defiprime, laying out his background, the protocol’s model, and his thoughts on the regulatory landscape.

Cover Protocol is a KYC-free coverage platform using AMMs to establish specific coverage markets. Anyone who holds CLAIM tokens for a protocol is able to redeem for the $1 DAI collateral held in reserve, with the market establishing the price of CLAIM tokens.

The recently announced V2 will feature vault-specific markets, e.g. CurveAaveYearn bundle, as well as individual markets for vaults and farms.

EIP-1559 Updates

Tim Beiko | timbeiko.eth @TimBeiko

FWIW I disagree 1559 is ready to ship now. Shared my thoughts on the discord, but TL;DR: 1. Not all clients have an implementation, none has a "final" one; 2. We still haven't addressed the main pushback from AllCoreDevs (testing large blocks with large state). ETA: a few weeks

Matterhorn @matterhorn_eth

🚨Ethereum's EIP-1559 is ready, and it needs to be shipped https://t.co/6e17GvvRPk

Tim Beiko shared his thoughts on EIP-1559, with progress ramping up.

EIP-1559 will play a crucial role in Ethereum’s monetary policy, burning ETH with every transaction. It’s speculated that once the full transition to staking with eth 2.0 is complete this could lead to deflationary ETH issuance.

Tim has been spear-heading the proposal, and will also be taking over from Hudson Jameson as coordinator of AllCoreDevs calls (Ethereum Core Developer meetings).

Make sure to subscribe and follow Tim to stay up to date with the latest on EIP-1559.

BadgerDAO Launch V2

₿adger DAO 🦡 @BadgerDAO

Badgers we are excited to launch V2 of our app! 🚨 app.badger.finance 🚨 This is a major overhaul of the entire frontend infrastructure with a focus on; ➡️Simplicity ➡️Performance ➡️Scaleability ➡️Mobile V2 App Step by Step User guide👉 shorturl.at/ksILX Thread/

BadgerDAO’s V2 brings mobile to the protocol as well as big focus on UX simplicity.

Badger provide a suite of BTC-focused DeFi products.

The upcoming DIGG will be an elastic supply token pegged to the price of BTC, maintained with a daily supply rebase.

Yesterday’s news:

Connext's L2 Swaps Live, AAVE, Synthetix, and Andre Cronje - Decentralise #84

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