Yam launched on August 12th, 2020 as An Experiment in Fair Farming, Governance, and Elasticity. The Yam protocol was crafted and planted by Brock Elmore, Trent Elmore, Clinton Bembry, Dan Elitzer, and Will Price
Yam sought to combing the fair launch of ethos of YFI with the rebasing mechanics of AMPL, becoming YAM.
All Good stories have a twist, and this one is no different. Yam had a critical bug at launch and the DeFi community came together in a “SAVE YAM!” movement that became one of the milestones of DeFi Summer.
The bug wasn’t able to be fixed - so the community migrated to a temporary YAMv2 in order to vote on the parameters for a YAMv3 while the protocol was audited. On September 18, 2020, the fully functional YAM protocol was released
On December 29th, 2020 the Yam community has voted to disable the rebasing / elastic supply function of Yam and the scaling factor of Yam has been fixed at 2.50.
YAM now acts as a DAO governance token and has evolved into a launch pad for DeFi projects supported by a community governed treasury. Yam is currently developing multiple projects including Yam Synths and the Museum of Fine Yams.
For most current projects, please visit us on Discord.