### What is YAM?

YAM is an experimental protocol built on the Ethereum blockchain, integrating innovative concepts like elastic supply mechanisms, governable treasury, and fully on-chain governance. It is designed to incorporate the latest developments in programmable money and governance, coupled with a fair distribution mechanism.

### How does YAM work?

YAM operates as a decentralised protocol featuring an elastic supply mechanism that expands and contracts its supply based on market conditions to achieve a target of 1 USD per YAM. It employs a fork of the Compound governance module to enable on-chain community voting for protocol updates. Governance controls a portion of each supply expansion, which is used to purchase yCurve, a high-yield USD-denominated stablecoin, and add it to the Yam treasury.

### What are the potential use cases for YAM?

Potential use cases for YAM include:

1. **DeFi and Yield Farming**: YAM is employed in yield farming and can be staked in liquidity pools to generate rewards. It also engages in lending and borrowing within the DeFi ecosystem.
2. **Governance and Treasury Management**: YAM's governance system allows community participation in decision-making and treasury management.
3. **Stablecoin and Synthetic Assets**: It acts as a stablecoin, maintaining its price through supply adjustments, and is involved in the creation of synthetic assets.
4. **Arbitrage and Market Participation**: YAM facilitates arbitrage opportunities through its elastic supply and allows participation in various market activities.

### What is the history of YAM?

YAM was launched on August 11, 2020, by a team including Dan Elitzer and Clinton Bembry, among others. The project quickly garnered attention, reaching $580 million in assets within a day of its launch. However, a critical bug in the rebasing contract led to a collapse, but the DeFi community supported a turnaround, resulting in a migration to a new version, YAMv2, with audited code. Despite its initial setbacks, the protocol remains active, rebranding itself as a launchpad for DeFi projects while maintaining a community-driven governance model.

Deposits and withdrawals are not currently available for this coin.

Important Notice

Tribe

Cryptex Finance

PoolTogether

Tower

Tomb Shares

DePay

Pillar

Hakka Finance

Opium

Niftyx Protocol

PowerTrade Fuel

Swerve

Pacoca

DLP Duck

Dypius

Governor DAO

IDLE

Indexed Finance

Residual Token

YAM (YAM)

Similar Coins

TRIBE

CTX

POOL

TOWER

TSHARE

DEPAY

PLR

HAKKA

OPIUM

SHROOM

PTF

SWRV

PACOCA

DUCK

DYP

GDAO

IDLE

NDX

ERSDL

Resources

YAM (YAM) Price Index

YAM Price

Trading volume

Market cap

Resources