YIP-04: Migration of YIN / WETH pair liquidity mining plan to Polygon

https://gov.yin.finance/t/yip-04-migration-of-yin-weth-pair-liquidity-mining-plan-to-polygon/24

Motivation With the high gas transaction fee on Ethereum chain, currently it is not attractive for small retail users to stake assets via Ethereum chain. The recent successful deployment of a liquidity mining program with pair USDT / USDC on Polygon has since attracted ~$8M of TVL (updated on 8th of February 2022). Therefore, migrating the YIN / WETH pair from Ethereum chain to Polygon chain will enable more participation from users, especially when the gas fee in dollar terms will be lower by a few orders of magnitude. Operation on Ethereum chain will cease and all rewards will be moved to Polygon.

Proposed Migration Plan The YIN / WETH pair will be based-off pool type with 0.3% fee structure on Uniswap V3. The incentive plan will be effective for a period of 1 month starting from 15th of February 2022 at 2pm UTC+8. It will be a collaboration with izumi Finance whereby users who stake their assets will receive both $YIN and iZi tokens. Throughout the 1 month period, total rewards are estimated at ~75k $YIN and ~300k iZi tokens.

About YIN Finance YIN Finance is a multi-strategy NFT liquidity management platform that allows users to subscribe to liquidity management strategies to achieve effective high-yield. The protocol is based on a decentralized financial service organization and aims to provide services on different public chains and decentralized exchanges. It is deployed on the Ethereum MainNet with budding deployments on Polygon, Optimism, BSC and Solana. YIN Finance has also secured the grant from Polygon. Considering the high growth DeFi world, the potential for financial services and solutions in this space continues to expand at a rapid rate. For more information, please refer to https://docs.yin.finance. For direct contact, please email us at market@yin.finance