A group of top-tier developers who contribute to Yearn.Finance (YFI), one of the most impressive decentralized financial protocols (DeFi), decided to make things clear. In a strongly worded text, they decided to answer once and for all what the protocol is—and what it is not.
No gods, no masters
First, the developers announced that Yearn.Finance should not be referred to as a company since it has no CEO or managerial board. Nor does it have any investors: VCs, angels and SPACs did not park their money there to facilitate Yearn.Finance's (YFI) progress.
As a protocol, Yearn.Finance is totally agnostic to YFI price fluctuations. Every token holder should feel free to utilize YFI as he/she wishes, but its contributors have nothing to do with YFI speculation.
It should be noted that YFI's price made much a lot of noise in the headlines in Q3, 2020. Experts called its insane rally the "fastest 100x in all crypto history." On Sept. 12, it reached an all-time high of $43,678, being four times as expensive as Bitcoin (BTC).
Finally, Yearn.Finance (YFI) denies any subordinate relationship with either entity or person. No expert is entitled to speak on behalf of the whole community. Mr. Lehnberg, a Yearn.Finance (YFI) developer, repeatedly stressed that the protocol community did not owe anything to anyone.
In its "positivist" chapter, the manifesto outlines that it is a fully community-driven platform providing every enthusiast with equal opportunities.
Yearn.Finance (YFI) is always open for "self-starters": no permission is required to improve something or add a new mechanism. Yearn advocates meritocracy: the community judges contributors by their dedication to the product—not by status, wealth or formal regard.
Come with your ideas, come with your passion, come with your creativity. Actions speak louder than words.
Yearn.Finance will never be "whale-dominated" as the allocation of YFI does not offer the right to command developers.
In summary, developers added that Yearn.Finance (YFI) is constantly evolving and may change dramatically.