PowerPool Launches ‘meta-governance token’ for Yearn Eco-system
By Mark - Cryptocurrency Broker
The protocol that looks to accumulate governance power in Ethereum based protocols, known as PowerPool, has recently launched a Meta-Governance Token for the Yearn Ecosystem. The new product, the Yearn Ecosystem Token Index or YETI, is an index that contains projects from the Ecosystem such as: SUSHI, AKRO, PICKLE, YFI, COVER, CVP, KP3R and CREAM. The weights of the Tokens within the PowerPool index are listed as “YFI 35%, SUSHI 17%, other Tokens 8% each” with the potential to change with successful governance proposals.
The creator of YETI, Ryan Watkins from Messari, had published a proposal to the PowerPool forums on December 4th, noting that even though community and development resources were merging under one index, the governance within the protocols will remain apart.
Watkins goes on to say that the index will serve two purposes, the first being that investors will have a “passive vehicle for broad exposure” towards the Yearn Ecosystem, and the second to align all governance systems and treasuries of the protocols within the Yearn Ecosystem.
The Messari researcher states that there is a “significant opportunity” to invest in the ecosystem, making it easier for investing in Cryptocurrency. So, rather than buying Crypto individually, Defi users will be able to buy Crypto Tokens in multiples. Even investing in one Token would mean investors can “receive cash flows from Vault strategies” as well as vote on proposals within the eco-system.