The Forge
The Forge is the Governance part of the project. What this means is that users can take their $YFD tokens and deposit them in the Forge, thus acquiring fYFD points.
The way fYFD points work is explained below:
A user has $YFD tokens.
The tokens get deposited in the Forge, via Smart Contract call, with a target block number (as the date/time). That block marks the time the final fractional $YFD gets reclaimed. They get issued fYFD points.
fYFD points can be used to:
Submit governance Proposals;
Fund any proposal (eg. 1 point = $0.01 of funding capacity).
Points decay each block.
The user can reclaim the decayed fYFD as $YFD.
Submitting a proposal locks fYFD points. These points stop decaying until the proposal process has been completed. This allows community to penalize bad actors (points can be seized).
Users with enough fYFD points can create the following Proposals:
Text proposals (a proposal with no enforceable on-chain action).
Spend proposals to send funds from the treasury to a pre-whitelisted recipient address (service provider, community contributor, consultant, etc.).
Parameter proposals to create, modify, or deprecate a governance parameter.
Emergency proposals to stop/veto an existing vault, governance, or spend proposal etc.
Vault proposals to create a new vault, essentially a community-funded work order that can be fulfilled by a developer to receive escrowed funds.
Vault deployment proposal to deploy the code for a completed vault (making the forge the owner of that contract).
Whitelist proposals to whitelist developers and their wallet addresses to be able to work on vault proposals and receive payment.
You can read more about the governance process by heading over to Governance.
You can read detailed specific of each proposal by heading over to Proposal Categories.
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