Yearn <> CoW Swap

YearnV3 : Motivation and design

Tuesday, May 17, 2022 | Written by Weaver

Yearn wants to buy your YFI

We heard some people are selling.
Great, because we’re buying.
But we don’t want the token you bought that was going to solve the scalability trilemma by beaming tx’s off the moon (and is now down 95%), nope, we want your YFI.
YFI is essential to building Yearn. It’s part of the compensation and retention strategy for attracting and keeping the best DeFi contributors to work on Yearn, aligning their incentives with the protocol and giving them skin in the game. Basically, we like the token.
As of today, we’ve bought back 755 YFI for $19 million from the market. And as we continue to build, you can expect the buyback numba go up. Soon YFI buybacks will also be used to reward veYFI holders for their participation in Yearn.
But spare a thought for poor Klim, manually buying back token after token. Dragged away from his much loved milk and peace of mind. So banteg has embarked on a mission to automate Klim, with this being his first assignment. Happy days.
Our buyback piggybank will be regularly topped-up with DAI and is always willing to buy back your YFI at the current price, served by a Chainlink oracle.
The stats are now real time for full transparency of buyback activity. Decentralization innit.
Spotted a sweet arbitrage opportunity? Go for it, anon. Teach your dog, teach your bot.
Just want some of the bunny’s DAI? Be our guest, he’d only waste it on premium hen…anime.
You want to copytrade us and buy YFI? Alright then, we’ll let you do that here too.
So please, do a good deed, smash that sell button and sell us your YFI so we can continue to reward the best builders and holders in DeFi.