The Yearn ecosystem is controlled by YFI token holders who submit and vote on off-chain proposals that govern the ecosystem. Proposals that generate a majority support (>50% of the vote) are implemented by a 9 member multi-signature wallet.
Changes must be signed by 6 out of the 9 wallet signers in order to be implemented. The members of the multi-signature wallet were voted in by YFI holders and are subject to change from future governance votes.
Discussion regarding changes in the protocol happen on a variety of platforms such as:
It is recommended to get as much feedback as possible from the various channels of communication before introducing a formal proposal. The governance forum and Discord server have dedicated channels for specific topics.
Types of proposals
Yearn Improvement Proposals (YIPs) are an all-encompassing vehicle for exercising power that token holders are granted. After YIP-61, Yearn Delegation Proposals (YDPs) were introduced, which allow token holders to change where any discrete decision-making power is delegated.
Anyone can post a proposal on the forum for discussion within the community. If it's promoted to off-chain votation (via Snapshot), only someone holding 1 YFI can submit it to Snapshot. In case your proposal made it to off-chain votation and you don't have enough YFI, mods will help you.
The default template for proposals can be found on Github + on the forum if you make a post under proposals or discussion it will auto-fill in the template as well.