The first of many community-governed votes that will help shape the future of the YFDAI Finance ecosystem
As many of you will now know, our aim is to fully decentralize the governance of the YFDAI Finance platform in coming months and the launch of YFDAI community governance last month signaled an exciting step forward in the evolution of the YFDAI Finance ecosystem and to DeFi as a whole.
We are therefore very excited to be able to offer YF-DAI stakeholders the opportunity to vote on high-level parameters such as staking incentives, collateralization, and in the case the decision of whether or not to introduce the SafeSwap Token (SST) and NFTs as parts of the governance infrastructure.
Community Governance Vote Results
The results of this first vote are in and we have seen the successful voting-in of the SafeSwap Token (SST) and NFTs to the YFDAI Finance governance infrastructure.
Over 97% of the participating governance community voted in favor of the proposal. This is a result that will enable us to ensure that liquidity providers on the SafeSwap exchange are provided with higher rewards than can be found elsewhere, which will ensure deep and sustainable liquidity. The YFDAI community is vital to the sustained growth of the YFDAI Finance ecosystem.
Here are the results of our first governance vote: [link to Google sheets]
YFDAI’s SafeSwap Token and NFT
The SafeSwap Token (SST) linked with the NFT will provide various governance functions within the YFDAI Finance ecosystem, including the ability to vote on proposals that are central to the overall development and direction of the entire project.
Holders of YF-DAI tokens will receive airdrops of SST and NFTs which can be used in the governance process, and SafeSwap liquidity providers will also be rewarded with SST tokens and NFTs that grant voting power and income streams from other YFDAI services, ensuring that there is an optimal opportunity for anyone to become a part of the deeper YFDAI Finance community and help shape the future of the platform.
YFDAI Finance is setting the standard for the future of community governed DeFi communities and, with such a strong community behind us, we are very proud to be moving through 2021 with a new governance model that enables pivotal project decisions to be made in a decentralized fashion.
We will be diving into greater detail and exploring DAO governance, SST delivery mechanics, and tokenomics structures in the coming weeks, and we will keep our community updated and in the loop on this as we do so.
Stay tuned for an announcement early next week that outlines our SST distribution plan and bonus structure to reward all YF-DAI Holders, the more YFDAI you hold, the more SST you will receive.
Telegram Governance- https://t.me/joinchat/TjNNP9ipD9ObYLUU
Telegram Community- https://t.me/yfdaifinance
Telegram Announcements — https://t.me/yfdai