IMPORTANT NOTE: YIP-8 was not compliant due to an incorrectly chosen block #. YIP-12 is a compliant version of YIP-8.
Summary: This proposal would eliminate the 1 million YAM Community fund from YIP-2 bringing the YAM supply back to the original 5 million YAMs.
Motivations: -The 1 million YAM community fund immediately increases YAM supply by 20% from the original YAM v1 supply of 5 million. This sudden increase in supply is bearish for YAM prices and unnecessary. -Pre-minting a large slush fund with no immediate need sets a bad precedence for YAM. -YAM supply should only be increased on an "as needed" basis and should always be done through community discussion of the need and approval through the proposal process.