YAM brought 6 head DeFi to rise, AMPL mining daily interest rate was 17%, but a bug appeared and entered the "roasted sweet potato" moment

Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Chatting with Xiaozha (ID: xiaonazha88)

Chatting with Xiaozha (ID: xiaonazha88)

When I was a child, I liked to eat sweet potatoes, and I even liked to eat roasted sweet potatoes, which were delicious. The world is changing, but sweet potatoes are still so fragrant.

I roughly estimated that the daily interest rate for mining with AMPL in YAM on August 12 was 17%, which is amazing.

A sweet potato, rising with the top DeFi projects, ignited the enthusiasm of the DeFi community, which is a kind of magical power.

Many articles have been written about mining YAM mining. Here are some views and opinions on YAM.

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1. How does YAM stir up the pool of money in DeFi?

Let’s talk about the gameplay first: YAM’s gameplay can be described as a collection of popular gameplays in DeFi. It combines COMP mining + AMPL rebase + YFI no reservation distribution mode, target: DeFi community

Each of these three ways of playing has set off a big wave in DeFi, and YAM can be said to have set off a bigger wave. This wave of stocks is sweeping, but many people have not yet reacted. Many people probably have the mentality shown in the picture below.

Here to give you a stroke. The first phase of YAM mining, from August 11th to 18th, staking (COMP, LEND, LINK, MKR, SNX, WETH, YFI, AMPL_UNI LP) mining YAM, each pool is divided equally.

Among the 8 tokens mined in the first stage of YAM, 7 are DeFi head projects, and 1 is ETH. Looking back, COMP mining drove the DeFi industry out of the circle. And YAM directly drove the collective rise of DeFi heads, and the increase was still very large. As shown below.

Although I don't know where the mysterious power of YA comes from, I can feel the horror and power of this power. It can be seen that one source of this stock volume is the super annualized rate, which is simply giving money.

Of course, this annualized rate is dynamic. As the mortgage assets increase, the annualized rate of return will naturally decrease.

The YAM liquidity mining pool has grown very rapidly. There are 478 million US dollars in the pool in 20 hours. This lock-up volume has almost caught up with Aave, ranking fifth in DeFi. Give him a few more days and don't know what will happen.

When faced with such a mystery and can't tell what it is, don't jump to conclusions easily, observe it more, get in touch with it, maybe you will be pleasantly surprised.

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2. What is YAM competing for?

YFI is competing as a capital asset, and its opponents are LEND, COMP, MKR, etc.

YAM is competing as a currency, and its opponents are AMPL, ETH, BTC, etc.

There is a way to say this, YAM is used as a currency, and these are naturally good for LEND, COMP, MKR, etc. to do asset-backed loans. Of course, out of the 8 tokens mortgaged in YAM, 6 have skyrocketed, which is related to the annualized mining rate of YAM.

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3. What has changed in YAM?

As for what YAM has changed, Super Jun’s words are very instructive, as shown in the picture below.

YAM omits many intermediate links, gets through the whole link, and improves the fairness and efficiency of funds. It is estimated that it will continue to be imitated in the future.

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4. The impact of YAM on AMPL

I wrote an article a few days ago saying "The market value of AMPL has dropped by 70%, has the bottom reached? Gain positions and wait for the storm to come", I didn't expect AMPL to return so soon.

An important factor here is YAM. YAM stimulates AMPL. What is the stimulating effect? The price of AMPL has returned to around 0.95. It is estimated that there will be no AMPL below $1 soon. The capital pool and trading volume of AMPL on uniswap have doubled, and the capital pool has broken new highs.

why? Therefore, mortgaging AMPL's market-making funds on Uniswap and mining on YAM has an annualized rate of return of 8152%, which is a temptation that no one can resist.

Of course, you may ask, if there is no YAM, what about AMPL? Here are two points:

1. For AMPL to succeed, the key step is to enter the DeFi ecosystem, so that the AMPL produced by AMPL inflation can have more places to go, instead of smashing the market. The birth of YAM has promoted the rhythm of AMPL entering the DeFi ecosystem. At the same time, the higher the rate of return on YAM, the greater the demand for AMPL, which can consume a large part of the tokens generated by AMPL inflation.

2. YAM has virtually raised AMPL to a higher level, putting AMPL on an equal footing with LINK, MRK, COMP, LEND and other projects. For AMPL, this is a very big benefit in brand building, especially as YAM continues to be hot, AMPL's brand exposure will be greater, and the consensus will be stronger.

The storm of AMPL is coming, and there is also a strong opponent, YAM. It remains to be seen how the two will compete.

In the morning, AMPL went down again, which is interesting. As for the reason, I haven’t found it yet, and the AMPL pool on uniswap has also decreased by more than 10,000 ETH. It may be related to a small bug in YAM.