Token Notices Significant Surge After New Tokenomics Proposal

Posted by

Yearn’s YFI token jumped almost 25% over the last 24 hours despite a more intense market pullback. (YFI), a DeFi aggregator which has over $5.5 billion in total value locked, is currently increasing as other Cryptocurrencies are noticing a slight fall.

The reason for this increase was due to proposal from the token distributors.

The proposal includes to amend the tokenomics of the YFI token:First, a portion of YFI tokens would be bought back by Yearn’s Treasury and distributed as rewards to YFI holders who are actively involved in Yearn Governance.

Second, four different methods by which YFI holders could be rewarded for locking up their tokens are introduced.

Third, the proposal would grant Yearn Developers the ability to roll out these new features as they see fit.Fourth and finally, the proposal introduces a restriction on Yearn Governance: only YFI staked in xYFI (beginning in Phase 1) and/or locked (as per Phase 2 and onwards) would be eligible for use in voting.

Leave a Reply

Your email address will not be published. Required fields are marked *