Buy YAM
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:
- 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.
- Governance and Treasury Management: YAM's governance system allows community participation in decision-making and treasury management.
- Stablecoin and Synthetic Assets: It acts as a stablecoin, maintaining its price through supply adjustments, and is involved in the creation of synthetic assets.
- 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.
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Frequently Asked Questions (FAQs)
What is the current price of YAM (YAM)?
The YAM price is $0.07951982 AUD, representing a +0.01% from the day prior.
Where is the best place to buy YAM (YAM) in Australia?
The best place to buy YAM (YAM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell YAM (YAM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of YAM (YAM)?
The trading volume of YAM (YAM) is $74 AUD in the last 24hrs, representing a +0.01% from the day prior.
How can I buy YAM (YAM)?
YAM (YAM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of YAM (YAM)?
The current market cap of YAM (YAM) is $971.4K AUD.
Can I convert YAM (YAM) to cash?
Yes - With Coinstash you can convert your YAM (YAM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many YAM (YAM) are there?
The current circulating supply of YAM (YAM) is 14.8M.
Is Coinstash a safe place to buy YAM (YAM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling YAM (YAM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.