Both YFI and YFII plummeted in a short period of time: a "bloody case" triggered by a vote

At 19:21 on July 31, according toCoinGeckoimage description

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YFII 24-hour price chart

On the other hand, the mainstream digital currency market led by Bitcoin and Ethereum is still hot. On July 31, Ethereum continued to attack and break through a new high in the past 12 months, rising as high as $346.43. Bitcoin stood firm at the $10,000 mark. rise slowly.

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According to Odaily's understanding, the plunge of YFI and YFII is related to a proposal released by yearn.finance founder Andre Cronje in the YFI governance forum. The proposal is mainly to investigate whether the YFI community is willing to distribute the rewards of the yearn. Other community forked tokens that benefit from YFI token Yield Farming include YFII (yfii.finance).

One aspect of the news immediately caused controversy in the community, and even large investors expressed their desire to liquidate YFI and "smash the market".

But looking closely at the proposal, what Andre wants to express should be the hope that the YFI and YFII communities will unite to build a "more powerful and more decentralized ecosystem."

Andre praised YFII in his proposal. He thought YFII was very interesting and expressed his desire to support YFII. Andre believed that YFII gave everyone the opportunity to participate in Yield Farming. They represented the voice of the community and increased the lock of yearn finance. The size of warehouse assets also expands the reward scale of the system. Andre also expressed his views on the YIP-8 proposal. He believes that the YIP-8 proposal is a supplement to YFII governance and provides a way to fairly distribute YFII. At present, both parties (YFI and YFII) are interested and eager to connect the East and West communities, so as to build a stronger and more decentralized ecosystem.

Andre also specifically stated that if the proposal is passed, YFII token holders will have the same community governance rights as YFI token holders in the yearn.finance ecosystem, and YFII can also provide liquidity for the yearn.finance ecosystem like YFI.

Andre had previously told the media, "I am willing to cooperate with all communities, rather than have differences. At the same time, the forked tokens that determine whether to obtain benefits will be determined by future votes."

In addition, Andre also launched a vote on this proposal in the YFI Governance Forum. As of press time, a total of 125 people in the forum voted, 60% in favor and 40% against.