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The Forge

The Forge is the governance contract of Y-Foundry DAO. Users can deposit $YFD tokens into the Forge to acquire fYFD points.

How fYFD points work

  1. A user has $YFD tokens.

  2. The user deposits tokens in the Forge with a target block number (as the date/time). That block marks the time the final portion of $YFD gets reclaimed. See How Y-Foundry DAO Governance Works for more details. The user get issued fYFD points.

  3. fYFD points can be used to:

    • Submit governance proposals.

    • Fund any proposal. Each fYFD point allows you to fund additional amounts to a proposal (eg. 1 point = $0.01 of funding capacity).

  4. Points decay each block.

  5. 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 Proposals.

You can read more about the governance process by heading over to Governance.