Proposal to unwind yyJOE for JOE at 1:1 ratio Off the back of | Yield Yak [Announcements]

Proposal to unwind yyJOE for JOE at 1:1 ratio

Off the back of a Community discussion following the news from Trader Joe that veJOE is being sunset, a proposal has been made to unwind Yield Yak's veJOE derivative and allow users to claim $JOE for yyJOE at a 1:1 ratio.

Unwinding provides the best forward-looking solution for yyJOE and YAK holders by minimizing resources spent pivoting to a new yyJOE product as well as allowing the Treasury to benefit as yyJOE’s largest holder.

YAK holds governance over all Yield Yak products including yyJOE, and YAK holders will vote tomorrow on the proposal. All forms of $YAK (spot, staked, LPd') can participate.

For more context on the proposal as well as the full argument for unwinding, see the full proposal on Snapshot:

https://snapshot.org/#/yakherd.eth/proposal/0x466876cfd65d33759ac86e879f4271d8c9915b6bf18952abab5e91ca586b5d5f