1. Change in TVL
The YFII TVL this week was US$ 9.36 million , of which the Ethereum vault is US$ 6.9 million, the BSC vault is US$ 460,000 and the Heco Chain vault US$ 2 million, an increase from last weeks US$ 9.13 million.
2. Governance overview
2.1 In the YFII community, the latest APY earnings on different public chains will be announced every day for everyone’s reference.
2.2 YFII will reach a cooperation with Chainlink. Chainlink will provide YFII with an online quotation.
2.3 The 11th YFII Grant Committee Meeting.
•Binance Russia community AMA award grant application is rejected after community members vote.
•New grant incentive method. Design and issue dividend rights tokens based on Grant cash flow. The dividend rights tokens can obtain corresponding treasury funds with the equity ratio Claim. The dividend rights tokens can be traded and mortgaged , requires support from other mortgage lending projects, and will be priced by the market .
2.4 YFII Twitter launched an event with Math Wallet this week. The prize is a YFII themed NFT provided by MathWallet.
3. Q&A on the YFII 2021 roadmap
As a decentralized profit organization, what attempts did YFII make in the early stage and what plans did it make in the later stage?
In the early stage, YFII used the Grant Committee to distribute Grant rewards in the form of proposals and votes. In the later stage, YFII DAO will adhere to financial transparency. Community tasks will be split in the form of grant rewards. Community members who participate in YFII DAO will receive rewards.
It was just mentioned that YFII will become a DeFi financial supermarket to provide specific products?
YFII has become the traffic portal of the Defi world. There are many different fields in the DeFi field such as lending, decentralized exchanges, oracles, insurance, etc. All of which have their own different benefits and risks. YFII will realize the integration of funds and platforms in many aspects, just like a wealth management supermarket, providing products with different risks and benefits for users to choose from while ensuring safety, reducing the difficulty for users to participate in the DeFi world.
YFII and Chainlink have reached a cooperation. Chainlink will provide YFII with an online quotation. Is there any benefit to YFII?
Chainlink will provide YFII with online quotations, which can save YFII the cost of developing a large number of oracles. At the same time, YFII will better participate in the DeFi world’s lending, trading, options, derivatives and other sectors, which is more conducive to forming a safe price that is not vulnerable to hack attacks.
Will YFII be deployed on the new public chain/Layer2 in the future?
YFII has now deployed Ethereum, Binance Chain, and Huobi HECO Chain. In the future, it will be deployed on Near, Polkadot, and OK chains to make YFII a cross-chain product with broader deployment and cooperation.
Will there be any new features in the later version of YFII v3?
YFII v3 will merge resources and teams with Sakeswap and Wepiggy. In the later stage, the integration of multiple sources of funds will be realized, the same funds will be allocated through multiple strategies, and four new wealth management products will be launched:.
•Leveraged mining products, which can amplify customers’ funds to obtain more mining revenues and also have more risks.
•The Vault product of private banking, specifically for large capital users, provides them with private customized financial management strategies.
•Structured mining, income-enhancing products based on decentralized options and derivative contracts
•Hedging mining, reducing losses and risks such as liquid mining.
Can you talk about the new grant incentive method?
YFII DAO designs and issues dividend rights tokens based on Grant cash flow. The dividend rights tokens can obtain corresponding treasury funds with the equity ratio Claim. All YFII builders will share the long-term dividends of YFII through dividend rights tokens.
