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The migration of YAM1.0 is completed, and there is an NFT of YAM Heros waiting for you.



1. YAMV1 Exchange

The total supply of YAMV2 is 5 million. YAMV2 has no rebase mechanism, which means that there is no inflation and deflation, and there is no mining. The mining mechanism has to wait for YAMV3.

YAMV1 migrated to YAMV2, a total of 3.726 million pieces were migrated. It means that the circulation of YAMV2 is only 3.726 million pieces.

The YAM V2 governance portal has been launched: Jinse Finance reported that Yam Finance’s official push has just announced that its V2 governance portal has been launched. The YAM launch team has submitted two initial proposals, which are yet to be approved by the community. Proposals can be submitted by anyone who meets the minimum requirements, and only those properly approved by the community will be implemented, the tweet said. In order for YAM holders to remove liquidity from Uniswap and be eligible to vote at the time of the snapshot, voting on the team’s initial proposal will begin at 5:00 UTC on August 25th. [2020/8/25]

In YAMV1, the total mined YAMV1 divided by the number of rebases is 3,783,817 pieces. That is to say, 98.5% of YAMV1 migrated to YAMV2, and less than 2% of YAMV1 did not know why they kept it. Keeping it means returning to zero. Maybe this part of YAMV1 is kept as a souvenir?

Yam Finance: Migrating to YAMv2 requires 24 decimals instead of 18: Data scientist Svanevik pointed out on Twitter that YAMv2 uses 24 decimals, and very few coins do this (only 11 as far as I know). Most tokens use 18 decimal places. In this regard, Yam Finance stated that due to the migration through balanceOfUnderlying, 24 decimal places are required in the process of dust-free conversion. Etherscan currently predicts that we use 18 decimal places, which will cause UI errors on their website. The Yam Finance team is actively solving this problem, and the migration contract is running normally. [2020/8/20]

Wan Hui: The approval of the governance vote is a shot in the arm for the price of Yam currency: In response to the issue of "Yam has a loophole, the community votes for governance", Primitive Ventures founding partner Wan Hui (Dovey Wan) posted on Weibo that if the vote fails, Currency prices will not have much impact. If it is not passed, at most it will become an AMPL with a cultural core, that is, barbaric growth and endless life. If it is passed, it will be a shot in the arm for the currency price and the overall community information, because the Yam in the Federal Reserve can be used to do many other investment income things, to feed back the Yam holders, and also to withdraw the cohesion of the community. According to previous news, Yam Finance was exposed to a loophole during the rebase process, resulting in more Yam issuance than expected. Yam officially proposed two solutions. One is to set the Rebase to 0 and suspend the rebase process to fix the loophole. Reset the reserved Yam to 0 to eliminate the excess Yam in the reserve. Whether the proposal is approved or not will be determined by the entrusted voting results of Yam holders. According to community information, users need to deposit 160,000 Yam to participate in voting before 3:00 pm Beijing time today, so that the community governance of the project can really work. Currently, participating in voting The number of Yams is more than 50,000. [2020/8/13]

In the process of migrating from YAMV1 to YAMV2, the price of YAMV1 did not fluctuate greatly, and the transition was relatively smooth. In the mining pool 2 of YAMV1, $5 million of funds were not withdrawn from the mining pool until half an hour before the migration was closed. It was really digging out the last YAM and not wasting every YAM.

2. YAM Heroes, NFT rewards voters 

YAM went online for 38 hours, and went through peaks and troughs, during which the action to save YAM took place. In order to reward users who participated in the rescue operation, YAM has created material rewards and spiritual rewards. Material rewards are directly awarded to YAM, but still need to be decided by community vote. For spiritual rewards, YAM created an NFT token of YAM Heroes, which is given to the addresses participating in the voting.

3. The start of YAM voting governance will determine the arrival of YAMV3

The purpose of the migration from YAMV1 to YAMV2 is to allow critical management decisions to be made during the stagnation period when the entire YAN protocol is being reviewed.

YAM announced that: In order to facilitate the governance process, a governance forum will be launched on Monday, 8/24, using token holder signatures for off-chain voting, and community members will be able to submit proposals for voting. The number and complexity of proposals could have a significant impact on the timeline for YAMV3 release.

4. 1inch can’t hide its jealousy towards YAM

1inch also started liquidity mining yesterday, providing early participants with 2% of 1inch’s total tokens as a liquidity reward. This was mercilessly criticized by everyone.

1inch tweeted, with a feeling of "unrecognized talents" in the words, and a bit of a taste for favor.

Obviously I am not air, I have value to support, why do people not like me, but like a completely worthless air YAM, why, this is why.

This reminds me of the scene in "The Mermaid":

Zhang Yuqi: I have money and a figure. I will play with you with 30 billion yuan, but you actually go to soak a fish.


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The migration of YAM1.0 is completed, and there is an NFT of YAM Heros waiting for you.

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