The YFI minting decision can be distilled down to the following:
Will the value created by minting outweigh the cost of minting (i.e. dilution) for token holders
The answer is clearly yes
Will the value created by minting outweigh the cost of minting (i.e. dilution) for token holders
The answer is clearly yes
Productivity of development is key to protocol growth. A 3x increase in development productivity and output will translate to token price which obviously all of us care about
Love the 30k meme, but retaining + growing contributor/dev talent is more important
Love the 30k meme, but retaining + growing contributor/dev talent is more important
YFI is meant to be a productive cash flow producing asset, not digital gold
Alternative suggestions of diverting future cash flows to contributors fall short vs. minting as well.
YFI is valued at significant multiples over just its cash flows b.c. of things like governance rights, memetic premium, and social status (e.g. owning >1 YFI)
YFI is valued at significant multiples over just its cash flows b.c. of things like governance rights, memetic premium, and social status (e.g. owning >1 YFI)
My largest minting concern would be fragmentation of the community but I think most people will get over it
Pragmatism > Dogmatism
Pragmatism > Dogmatism
So let's mint some coin, get the all star devs the all star compensation packages they deserve and attract even more all stars
And then moon it
And then moon it
Just so we retain some meme power the amount of mint I recommend is 3,333 bringing the total supply to 33,333
This amount should be more than enough to cover current comp packages + reserves for future contributors
This amount should be more than enough to cover current comp packages + reserves for future contributors