LOGO_CRYPTO_SIGHT

PowerPool Rolled Out ‘Meta-governance token’ for Yearn Ecosystem

By Warren Hayes | December 18, 2020

Powerpool – an initiative studying the utility of Ether-powered governance tokens – has reportedly rolled out YETI – an index and “meta-governance” token dedicated for the Yearn.finance ecosystem.

Specifically, YETI was originally the idea of Ryan Watkins – the publisher of the proposal for a Yearn.finance ecosystem index token to PowerPool’s governance forums on Dec. 4.

The Messari researcher reportedly remarked that in spite of the merging process for development and community resources, throughout the YFI ecosystem members, “governance among these protocols remains separate.”

He reportedly noted that the index would act as a “passive vehicle for board exposure to the Yearn ecosystem”, and at the same time offering Yearn a chance for formalization of its recent mergers, as well as aligning “the treasuries and governance systems of the protocols in its ecosystem.”

Per his proposal, the index is reportedly made up of 35% YFI, 17% SUSHI and 8% CREAM, AKRO, COVER, KP3R, CVP and PICKLE. Nonetheless, adjustments can be made to the index composition with successful governance proposals.

The meta-governance layer to PowerPool’s index tokens reportedly enable participation for YETI holders in governance, throughout the Yearn ecosystem, through one individual interface, which PowerPool claims to simplify the user experience and offer “an opportunity to save gas costs.”

Tags: , ,

Comments