[YFII] MIP6 Collateral Onboarding Application

Application Form

1.Who is the interested party for this collateral application?

YFII and its strong community would be interested in forging DAI by using the YFII token as collateral.

2.Provide a brief high-level overview of the project, with a focus on the applying collateral token

YFII’s For Innovative Investment. YFII Finance is a community-owned DeFi infrastructure where its users determine what products they want and enjoy the yields. It’s permissionless for all the people to join.

How and when was YFII launched? :YFII belongs to the community. No pre-mining. No ICO. No dev team rewards. The only way to get YFII is to provide liquidity to the pools. YFII is the token for community governance and the key to farming yields of various DeFi platforms. It is used for revenue allocation and voting in the YFII DAO.

Size of the Community There are 24 large WeChat groups, with about 10,000 people. The telegraph group has about 10,000 people, for a total of 20,000 people.
Number of Proposals Currently, seven proposals have been adopted and two are at the revision or ballot stage.
Number of Working Groups Community volunteers are divided into operation group, contract group, web development group, strategy group, etc. The operation group includes proposal promotion group, governance process design group, cartoon popularization group, Ministry of Foreign Affairs, new product launch group, Defi Tuesday group, administrator communication group, overseas information relay station, governance hall, etc. There are about 300 community volunteers.
TVL Size $44,321,989.8 (2020.10.18 22:50)
Number of Pools The open pools include five pools from pool1 to pool5, with pool1 and pool2 being the token distribution and market making pools, pool3 being the cooperative reward pool (deactivated), pool4 being the bal reward pool (deactivated), and pool5 being the recurring mining pool.
Number of Strategies 9 kinds, including ETH,WETH,USDT,USDC,DAI,BUSD,HBTC,TUSD,yCRV.

3. Provide a brief history of the project

YIP-8 and forking of YFI:As mentioned above, the mining/farming of YFI has stopped on July 26. Mainly not for preventing a sharp drop in liquidity of the pools,but for yfi token distribution period was too short (just 1 week) to include a wider user group, as a result, a large part of yfi tokens was farmed by several whales, that was not a real and fair defi governance community should be, therefore, to have a wider and more diversified governance community and ture fair launch, yfii community early members proposed YIP-8, to prolong the farming period with a weekly halving model, which can both reward early whale farmers and include late but more diversified small users. Though more than 80% of the votes were FOR the proposal, it was declined because of the unmet 33% quorum requirement. To protect the ture defi governance from being spoilt by whales, we forked YFI, naming it YFII (dfi.money). The issuance of YFII imitates the halving model of Bitcoin so that the tokens will be fairly distributed to the community.

4.Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.

Official Website:https://dfi.money
Docs: https://docs.dfi.money/#/
Code: https://github.com/yfii
Smart Contract:https://etherscan.io/address/0xa1d0E215a23d7030842FC67cE582a6aFa3CCaB83
Old Yfii Finance:https://old.dfi.money/
Stats:https://stats.dfi.money/
V1 Vault:https://v1.dfi.money/#/
Todos:https://github.com/orgs/yfii/projects/1

5.Link any available audits of the project. Both procedural and smart contract focused audits.

Audit report

1、Security Review for YFII Token, Pool1, and Pool2:https://github.com/yfii/audit/blob/master/200803-YFII-Token-Pool1-Pool2.en.md

2、Security Review for YFII Vault:

6.0Link to any active communities relating to the project.

Telegram:https://t.me/yfiifinance
Twitter:https://twitter.com/FinanceYfii
Weibo:yfiifinance
WeChat:yfiifinance
Discord:https://discord.com/invite/XQ4wnmz
Voting:https://voting.dfi.money/#/dfi
Forum:https://gov.dfi.money/

7.How is the applying collateral type currently used?

The token is currently used to governance community.

8.Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?

No organisation bears legal responsibility for the collateral. Dai, Eth and Yfii are all permissionless.

9.Where does exchange for the asset occur?

10.(Determined by Legal Domain Team) Has the project obtained any legal opinions or memoranda regarding the regulatory standing of the token or an explanation of the same from the perspective of any jurisdiction? If so, those materials should be provided for community review.

N/A.

11.(Determined by Legal Domain Team) Describe whether there are any regulatory registrations for the token and provide related documentation (including an explanation of any past or existing interactions with any regulatory authorities, regardless of jurisdiction), if applicable.

N/A.

12.(Optional) List any possible oracle data sources for the proposed Collateral type.

we are working with band protocol and nest protocol for oracle data, will be available soon.

13.(Optional) List any parties interested in taking part in liquidations for the proposed Collateral type.

YFII Community.

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