The latest trend in the DeFi sector is a new yield farming protocol known as YAM, which pledges uniform opportunity staking with no pre-mine, no founder shares, and a zero value token at launch. It is a great day for any YAM farmer, as they will be presented with another yield farming protocol.
This latest experimental YAM protocol is the newest crypto trending online. Many YAM farmers are already getting excited about a huge return prospect, while others are still concerned about the risks. The newly launched projects present an elastic supply token that is similar to the defi crypto Ampleforth, which can expand and contract depending on the market conditions, intending to seek price stability and a peg to the USD.
What is YAM?
You may be wondering, what is YAM? YAM is an experimental protocol mashing up a few of the most impressive innovations in programmable money and governance. A team of DeFi natives built it, and it presents the following;
- An elastic supply of YAM farm that seeks ultimate price stability.
- A governable treasury to add additional support stability to YAM farm.
- Fully on-chain governance to allow decentralized control and evolution from Day 1.
- An equal distribution mechanism that incentivizes crucial community members to take the reins of governance actively.
One of the fantastic dissimilarities about the YAM farm viewpoint is that 10% of each supply expansion (which is the rebase) is used to purchase yCRV, a high yielding basket of USD stablecoins. It is given to the YAM treasury, which is guided via community governance.
However, YAM is continuing to distribute tokens without any pre-mine or founder’s shares and no VC interest. It invariably means that any individual in the world has an equal opportunity staking distribution.