Yam

This is the second vote for YIP-112 and concerns Vesting of YAM paid to contributors

Summary

The YAM treasury does not have enough YAM to pay contributors fully for this month. This proposal recommends minting YAM to pay contributors monthly as part of the on-chain transactions. Only the amount of YAM owed to contributors would be minted in these transactions, and a new vesting procedure, using Sablier, would be implemented to further align incentives.

Rationale

To limit new tokens reaching the market quickly, and also aligning contributor incentives, I recommend adding a vesting component to the contributor compensation packages using Sablier smart contracts. These are simple vesting contracts that can have any ERC-20 deposited and will vest the tokens linearly for a predetermined period of time. A 6 month vesting period is proposed.

Specification

If this proposal is passed, the following process would be carried out:

The newly minted YAM paid to contributors would be sent to the monthly proposal contract, where it would be deposited into new sablier streams for each contributor. Each contributor would receive only 1 stream, even if they have multiple grants. The function to call on the sablier.sol contract is createStream() passing through the following parameters:

• Grant recipient address
• amount to deposit
• token address (YAM)
• start time (set at least 7 days after the expected vote proposal call to the governor so that this timestamp happens after the execution of the contract, in unix time)
• end time (set 6 months after the start time, in unix time)