Authors

@tracheopteryx @lex_node

Summary

A proposal to establish the future of yearn’s operational governance by extending certain of the Multisig’s powers from YIP-41 (Temporarily Empower Multisig) on a newly clarified basis in coordination with newly empowered autonomous contributor teams (‘yTeams’).

Abstract

if adopted, this proposal seeks to:

• ratify continued delegation by YFI holders to the Multisig of certain powers first approved in YIP-41 (Temporarily Empower Multisig), together with certain modifications and clarifications to the nature and scope of such powers as set forth below;
• delegate certain powers to a set of yearn contributor teams that have emerged organically from the community (‘yTeams’), as appropriate for each yTeam based on its objective (‘yGuard,’ ‘yBrain,’ ‘yDev,’ ‘yPeople,’ ‘yBudget,’ ‘yFarm,’ ‘yTx,’ and ‘yOps’);
• update and clarify YFI holders’ role in governance and the types of proposals available.

Motivation

In August 2020, YIP-41 (Temporarily Empower Multisig) was approved by YFI holders to:

• temporarily empower yearn Multisig members “to make personnel & budgetary decisions” for a six-month period; and
• task the Multisig with “facilitating the creation and transition to a multi-DAO structure”.

Since YIP-41 was approved, the Multisig has fostered a ‘multi-DAO structure’ by encouraging the development of autonomous ‘yTeams’ consisting of volunteer and paid specialist contributors.

The six-month Multisig empowerment period was extended for three-months via YIP-59 on February 24th, 2021 and will expire on May 24th, 2021. Thus, before the expiration date, YFI holders should approve a new proposal to establish the future direction of yearn governance. This YIP constitutes such a proposal and, if approved, would supersede YIP-41 and ratify yearn’s current de facto operational governance practices.

Specification

Governance 2.0 Overview

We present here the first phase of a progressive decentralization and improvement to yearn’s governance. This proposal seeks to update the decision-making structures within yearn, not their software implementation. It is our intent to offer implementation proposals in the future once this model is validated and the appropriate technologies become available for use.

Yearn is a network of independent doers united by a shared vision. Our bias is on action over bureaucracy. We move fast with great freedom and agency. This is our way. Towards this end, we have pioneered a method of governance we call ‘constrained delegation’ whereby YFI holders delegate their governance powers to autonomous groups like the Multisig and yTeams and thus empower them to be creative. Gov 2.0 takes that a step farther by making governance powers discrete and transferable objects under the direct control of YFI holders.

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Complete Proposal

Due to the character limit for Snapshot, the complete text of this proposal cannot be posted here. Please see the proposal on our governance forum https://gov.yearn.finance/t/proposal-governance-2-0 and the official full text is also available on IPFS https://ipfs.io/ipfs/QmT7mVjdaBZsyxtckcmcaXCy22Vr3k6mzKGRdYQyRybdFK