YIP-6: 5%循环挖矿的条件和方案

背景

YIP-5已经通过，DFI Vault 5%的利润将全部用于 YFII 激励；但是作为启动循环挖矿的前提条件，循环挖矿资金池必须先达到100万美元的下限门槛，这一前提条件限制了YIP-5对于YFII币价的支撑。因此建议修改相关条件，立即启动YFII的循环挖矿

基础方案：

-取消100万美元下限的循环挖矿启动条件，Vault 5%利润按周回购YFII，用户在Pool 4 stake YFII就可以参与循环挖矿，获得上一周回购的YFII。

-由于Vault已经积累了部分回购资金尚未分配，因此建议在开启循环挖矿的前四周内，将开启循环挖矿前积累的5%Vault利润，按周平均分批回购YFII，并加入循环挖矿池。在此期间，每周Vault利润的5%仍然分配到次周的循环挖矿奖池中。

加强方案：用Pool 4 Bal利润回购YFII

-Pool 4 现在收入来源于YFII Balancer做市池BAL利润，每周卖出BAL，并买入itoken分配给YFII Staking用户作为奖励。建议将itoken奖励改为YFII奖励，即卖出BAL后，将资金买入YFII，为staking用户分配YFII，这样可以强化支撑YFII 币价，激励YFII持有者

YIP-6 论坛讨论贴及统计 https://gov.dfi.money/t/topic/715

Background

YIP-5 has been passed yet implemented, 5% of DFI Vault’s profits shall be used for YFII incentives; However, as a prerequisite for starting circular mining, the circular mining pool must first reach the threshold of 1 million US dollars, which is restricting the implementation of YIP-5.

Therefore, it is recommended to modify the relevant conditions and start YFII's circular mining immediately:

Basic Plan:

-Cancel the 1 million US dollars threshold prerequisite of circular mining, and start the circular mining immediately, use 5% profit of vault to buy back YFII on a weekly basis, and distribute the buy back YFII in next week in Pool 4. Users can participate in circular mining in Pool 4 by staking YFII.

-Because Vault has accumulated part of the repurchase funds that have not been allocated, it is recommended that within the first four weeks of circular mining, to use the 5% Vault profit accumulated before the circular mining to buy back YFII in batches on a weekly basis and add to the circular mining pool. During this 4 weeks period, 5% of the weekly Vault profit will be still allocated to the circular mining pool of the following week.

Enhancement Plan: Using Pool 4 Bal profit to buy back YFII

-Now the income of Pool 4 comes from YFII Balancer's market-making pool BAL profit. BAL is sold every week, and itoken is bought and distributed to YFII staking users as rewards in Pool 4. The plan is to change itoken rewards to YFII rewards, that is, after selling BAL, buy the funds into YFII and distribute YFII to staking users in Pool 4, which can strengthen the support of YFII price.

Forum discussion post and signaling results: https://gov.dfi.money/t/topic/715