GIP-64: Unfreeze GFI Backer Rewards

Authors : @mikesall @blakewest

Summary

We propose “unfreezing” the Backer GFI rewards that are currently blocked for late pools.

Motivation

The “frozen” Backer GFI rule was originally put in place to help guard against some potential “self dealing” scenarios. However, it seems safe to say that hasn’t happened, and so it ends up just being a penalty to Backers that can be removed.

Specification and Requirements

Remove the restriction that freezes Backer rewards when a pool is late. We have not calculated the exact amount that this represents, but it could be substantial for individual Backers.

Benefits

  • This would help the Backers.

Downside

  • None for the current pools.

Voting

“Yes” - You support unfreezing Backer rewards on late pools.

“No” - Do nothing.

2 Likes

Will vote yes, that’s a no-brainer.

As a note, given the original design of those GFI allocation, it’s clear that the GFI allocated to backers was not at all for compensation for losses (given that GFI tokens were by design not claimable with late pools), and thus the argument cannot be used to deprive LendEast backers from a proper recovery plan later on.

My vote is “Yes”
I support the unfreezing Backer rewards on late pools.

Thanks for the proposal. I support it.

I support this proposal.

Yes.

Yes, I will support voting

I support this GIP.

// Yes.

I support this proposal. I have nothing against it.
“YES”.