Summary Due to hack of multichain bridge , 148.311112094402105786 YFI are locked in multiYFI on FTM. Most of these multiYFI were locked in Yearn Vault on FTM.
I propose a 1:1 multiYFI to YFI swap by minting new token (no dilution of YFI holder).
multiYFI are sent to 0x0000 null adress on FTM and the same amount are minted on Ethereum.
Discussion This proposal is currently in voting phase, because I can't write a proper YIP-70 in governance section .
Background There is 148.311112094402105786 YFI locked and bridged on Fantom as multiYFI. Multichain is out of order and sending multiYFI token to 0x000 null adress will locked them forever.
There is a depeg a strong multiYFI versus YFI MultiYFI holder can't exercice their voting rights on Yearn Governance multiYFI = 2269 $. YFI = 7100$ equivalent to 31.9% of the value
Motivation Although Yearn is no involve in multichain bridge, there was a YFI vault using multiYFI and the connections between Yearn and Fantom were strong.
User who are blocked in multiYFI , can’t participate in YFI governance as veYFI.
Specification Write a smartcontract, which send multiYFI on FTM to 0x0000 and mint newYFI on Ethereum mainnet.