Yam Finance’s lock-up amount has exceeded 200 million US dollars, and the annual income of AMPL mining pool is as high as 14049%

At 3 a.m. on August 12, the DeFi project Yam Finance conducted its first token distribution, and distributed 2 million initial tokens (YAM) to 8 pledge pools, each with 250,000 tokens. The initial token distribution Will last 7 days.

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According to Twitter’s big V weeb’s calculations, the current AMPL/ETH pool has the highest income, with an hourly ROI of 1.6%, and an annual income of 14049%. The worst performing pool is the WETH pool, with an hourly ROI of 0.263%, and an annual income of 2296%.

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according toyam.toolsThe latest data shows that in less than a day after its launch, the total lock-up amount of Yam Finance has exceeded 200 million US dollars. As of press time, its total lock-up value is 213 million US dollars.

According to Odaily, Yam Finance is currently only an experimental protocol, and its positioning is biased towards a liquid mining aggregator, designed and launched by Brock Elmore, Trent Elmore, Clinton Bembry, Dan Elitzer and Will Price, integrating programmable currency and governance Some innovations in the aspect of blockchain have the characteristics of flexible supply, driven by on-chain governance, and fair distribution mechanism (not assigned to teams).

According to Yam Finance inMediumAccording to an article published on , Yam Finance has added a key supplementary mechanism to the elastic supply model of the algorithmic stablecoin Ampleforth, that is, each part of the supply expansion is used to purchase yCRV (high-yield USD stablecoin) and convert it into Added to the Yam repository, governed by the Yam community.

The total supply of YAM is 5 million pieces (which may change through reset in the future), and the reset/rebase period (Rebase Period) is once every 12 hours, that is, 4 am and 16 pm Beijing time. The threshold for YAM when submitting a governance proposal is 1% of the total supply, and the proposal voting time is 48 hours.

At 3:00 am on August 13, Yam will conduct the second distribution (a total of 3 million tokens) through the YAM / yCRV Uniswap fund pool. 1.5 million tokens will be distributed in the first week, and thereafter will be reduced by 50% every week.

Notably, Yam Finance reminded investors that a formal audit of its contract has not yet been conducted, and that the project took just ten days from start to launch.

At present, YAM has been launched on Uniswap. After the launch, the price of YAM currency has been rising all the way. As of press time, the price of YAM is 86.69 US dollars. For reference, the official initial currency price target is that each YAM=$1.