This issue has been corrected by the community after the owner key was burned – meaning that no new tokens can be created without the community agreeing to it via governance votes.
The key point of contention was the presence of an ‘owner key’ which could have been used to create an infinite supply of YFII. Metamask has issued Phishing warnings for the YFII site, likely a result of initial ‘report’ submissions warnings against the project. The important question now is if it is safe to yield farm YFII. YFII is offering very high returns on investment, with pool 2 offering more than 2000% as of this article. Metamask Phishing Detection Warning Is it Safe to Yield Farm YFII
These issues were later resolved by the burning of the “governance address” and clarification of the “minter” addresses. This was mostly due to the presence of potential back-doors such a “minter” and “governance” addresses that could create any number of new tokens (infinite token risk). The launch of YFII was controversial and initially met with scam accusations – as the western community feared YFII was an exit scam. YFII governance interface is also a fork of Ygov.finance YFII Launch controversies
#YFII VS YFI CODE#
$YFII shares a 98% code similarity to YFI, with the key difference being the “halvening” added clause – for more information check this comparison. This has led to growing support for the project, especially in the Chinese community. This has led the creation of the YFII fork which directly implements a weekly halving model for YIP emissions. The developers originally intended to implement this change via a governance vote “ YIP8” – however, this was not passed by the community.