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Golden Outpost | A new proposal from the Maker community: adding YFI as a collateral asset.



After the price of YFI exceeds BTC, YFI may soon become MakerDAO's mortgage asset.

On August 26, 2020, the user paraficapital posted a proposal on the MakerDAO community forum. According to the MIP6 agreement, it is proposed to add YFI as MakerDAO's collateral assets.

However, Andre Cronje, founder of, tweeted in response, “I personally think it’s a bit premature, because most YFI tokens are used in machine pools or governance, DEX’s liquidity is low, and YFI’s volatility may It's going to be high. Even so, it's great to see the community driving this proposal."

Golden Relativity丨Lin Han: Ethereum 2.0 improves the scalability of the network through the "beacon chain + multi-shard chain" model: In today's Golden Theory of Relativity, what are the main improvements of Ethereum 2.0 compared to Ethereum 1.0? ", Lin Han, Operations Director of OKEx Mining Pool, pointed out: The biggest difference between Ethereum 2.0 and the existing Ethereum network is that the PoS mechanism is used instead of the PoW mechanism to reach a consensus on the order of transactions. A significant difference between PoS and PoW is that in the network of the PoW mechanism, the computing power determines the right to speak; while in the network of the PoS mechanism, the amount and time of holding coins determine the right to speak. The goal of Ethereum 2.0 is to improve the scalability, security and programmability of Ethereum. Through the "beacon chain + multi-shard chain" model, each shard chain is a separate chain, and many shard chains are unified by the beacon chain, which will effectively improve the scalability of the entire network. Therefore, one of the most important reasons why Ethereum 2.0 switched to the PoS mechanism is actually due to the consideration of its own performance optimization. Of course, compared to the PoW mechanism, Ethereum, which is converted to the PoS mechanism, will also lower the participation threshold, allowing more ordinary users to participate in the governance of the entire blockchain network. [2020/6/17]

Jinse Finance has sorted out the main content-ethexc of this proposal, as follows:

Jinse Finance contract market analysis | BTC amplitude narrowed, short-term volatility intensified: According to Huobi BTC perpetual contract market, as of 16:00 today (GMT+8), the BTC price was temporarily reported at $9761 (+2.05%), 20 :00 (GMT+8) The settlement funding rate is 0.010000%.

Since yesterday night, the BTC amplitude has been narrowing, and the short-term fluctuations have intensified. According to the Huobi delivery contract data, BTC’s quarterly contract turnover has increased to a certain extent, the open interest has increased, the proportion of elite longs has slightly decreased, and the quarterly contract premium has increased. The price of BTC remains between US$9,500 and US$9,900, and the market fee structure is optimistic. As the amplitude narrows, the probability of changes in the rising wedge structure gradually increases.

The price of USDT on Huobi Global OTC is 7.04 yuan, with a premium rate of -0.89%. [2020/5/20]

Who proposed to increase YFI collateral? ParaFi Capital

Golden Strength Group | Silk Road Group: Strategic layout of blockchain on the "Belt and Road": the combination of blockchain and the real economy has become an irresistible trend of the times. Golden Finance launched the "blockchain + new industry model" series Interviews with "strength factions" and dialogues with star enterprises and groups that are at the forefront of blockchain +. At 13:00 on January 17th, we will have a dialogue with Silk Road Group and Weiwei Technology, and let’s take a look at the strategic layout of the blockchain on the “Belt and Road”. For details, please refer to the link in the original text. [2020/1/17]

A brief overview of YFI. YFI is the governance token of yEarn."yEarn") is a DeFi yield aggregator and optimizer. yEarn uses a set of DeFi protocols and innovations (including yToken and delegation pool library) to maximize earnings. YFI is an ERC-20 token used to vote on liquidity providers’ yEarn Improvement Program (“YIP”) and new yield strategies. Token holders can mortgage their YFI through the governance website to earn a certain percentage of the income generated by the agreement.

A brief history of YFI. yEarn launched in early 2020, initially optimizing earnings on Compound, dydx, Aave, and Fulcrum. yEarn subsequently added new DeFi products, including and On July 17, 2020, yEarn announced the release of YFI tokens, which the community can use to manage the protocol. There is no ICO, pre-mining, public offering, team shares, and even the founders themselves have no token rewards. YFI can only be earned by providing liquidity. A total of 30,000 YFI tokens, fully distributed in the community. The YFI community is currently working with companies like Delphi Digital and Gauntlet to build the best possible token model and inflation table. A 6/9 Gnosis Safe multisig was awarded to manage the YFI governance contract. YIP 40 proposes to replace inactive multi-signers with four new signers. Since YFI launched, the total value locked on yEarn has grown from $8 million to over $1 billion.

Links to the white paper, documentation portal and source code of the system for interacting with the proposed collateral and all associated Ethereum addresses. Schematic diagrams are especially needed if the system is complex.

Is there any organization legally liable for the collateral? In which jurisdiction is the organization located? none.

Where can YFI be traded? YFI can be traded on decentralized exchanges such as Uniswap and Balancer, as well as centralized exchanges such as Huobi, Binance, and FTX.

Users of the MakerDAO community forum responded positively to this proposal. The two users who have replied so far are highly favorable.

Jolly: Highly support this proposal, because its community is highly active, locking in long-term investors worth over $1 billion who do not want to sell YFI.

Governor: 200% support.


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Golden Outpost | A new proposal from the Maker community: adding YFI as a collateral asset.

After the price of YFI exceeds BTC, YFI may soon become MakerDAO's mortgage asset.On August 26, 2020, the user paraficapital posted a proposal on the MakerDAO community forum. According to the MIP6 agreement.

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