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This is our Yam DAO Public Page. Here you can easily find out more about our organization and how you can get involved.
The YAM DAO is a treasury that lives on the Ethereum blockchain and is managed by YAM token holders. Stakeholders can submit a request to the YAM governance contract to use or spend the funds in the treasury. This action is then either carried out or not based on approval by token holders in a ****1-token, 1-vote model.
But YAM is more than just a set of contracts. It is the culture and process that has grown up around the treasury. It is a collective of people who see the world in a similar way and recognize YAM as an opportunity to push the ideas embedded in the culture and code of Ethereum forward. We are stewards of our treasury, committed to helping our corner of Web3 flourish.
The DAO started in the summer of 2020, when the original contract code was deployed to the Ethereum blockchain and roughly 80% of the token supply was given away to aligned DeFi Communities in one of the first fair token launches. There have been some bumps and growing pains along the way, including a reconsideration of the optimal use of the YAM token and debate about the best structure to operate a DAO. Through it all we have continued to explore the design space and opportunities available in DeFi and the broader Web3 space and are now pushing forward with a structural reorganization of the DAO.
| We Believe | This Is Why | |
|---|---|---|
| 1 | An open financial system built on a decentralized, permissionless ledger is incredibly valuable infrastructure for the world. | We build and invest in DeFi and NFT Products |
| 2 | Open, decentralized systems enable new forms of | |
| coordination and we are committed to building and using them even though it may be difficult. | We are a DAO and build decentralized products | |
| 3 | While the world may end up multi-chain, we believe that Ethereum, and it’s rollup-centric roadmap has the best chance to become this infrastructure. | We are committed to building on Ethereum. |
| 4 | The success of the Ethereum ecosystem is positive | |
| sum and we should collaborate and open source where possible to maximize our shared success. | We work collaboratively and build open source products. | |
| 5 | Tokens are a new and powerful coordination mechanism that we should use to further our vision. | We have a YAM token. |
| 6 | Anyone, anywhere in the world should be able to join and contribute to YAM. | Our infrastructure must be built to be as open as possible |
| 7 | Continued improvement is critical and we will always be looking for better ways to operate, govern, and build. | YAM is never finished. |
| 8 | Kindness and treating each other with respect. | Community harmony is Yam’s greatest asset. |
Yam DAO recently underwent a structural overhaul. This upgrade known as Minimal Yam moved to fully decentralize the organization and empower community members to play active and leading roles. All Discord communication channels are now public, and contributors are rewarded for their efforts to grow the DAO and its products through bounties. Large-scale tasks such as our leading derivatives platform Yam Synths are coordinated through silos. Read on to find out more.
1. YAM DAO INFRASTRUCTURE YAM DAO is a treasury controlled by Governance. Anyone can submit a proposal requesting treasury funding. Yam token holders then vote to decide what proposals they want to fund. YAM DAO also provides the infrastructure to support Silos and contributors.
2. SILOS When a proposal passes a governance vote a Silo team is formed by the proposal creator. The Silo team is responsible for running, managing and fulfilling the work as defined by the approved proposal. All work is performed via a system of bounties..
3. BOUNTIES Silo teams create and publicly post bounties with a defined scope of work and deliverables for all the work required. Anyone can submit an application to on open bounty. The Silo team approves applications and manages the bounty payments to contributors.