Time to YAM [Alpha Tractor]
Wtf is Yam.finance? Prepare for the worst, farm with the best
THIS STRATEGY IS BRAND NEW AND EXTREMELY RISKY. YAM IS UNAUDITED AND SHOULD BE APPROACHED KNOWING YOU MAY LOSE 100% OF YOUR FUNDS.
This is the first in the Alpha Tractor series - giving you intel into the freshest yield for the most honest farmers only.
What is YAM?
YAM is a community-incubated governance token leveraging rebasing mechanisms seen in Ampleforth with automated treasury sustainability. This means YAM holdings change every 12 hours, with a portion of the supply extensions being used to buy yCRV and deposit it in the Yam treasury.
YAM is only earned by staking top DeFi tokens like YFI, WETH, COMP, LINK, LEND, SNX, MKR, and AMPL/ETH Uniswap liquidity.
Farms on Yam Finance
Just like YFI, YAM has 0 intrinsic value. It features “no premine, no founder shares, no VC interests — simply equal-opportunity staking distribution to attract a broad and vision-aligned community to steward the future of the protocol and token.”
The larger vision of the project (in my opinion) is to create a community of DeFi degens that can pull from a growing treasury fund to create better farming equipment.
YAM Supply
The initial supply will start at 5M YAM, although this will change every 12 hours due to automated rebases at 8am UTC and 8pm UTC every day.
2M YAM will be allocated to Yam farmers over the first week with 250,000 YAM being allocated to every pool starting at 19:00 UTC today.
3M YAM will be allocated to YAM/yCRV Uniswap V2 LPs, with 1.5M allocated to the first week dropping by 50% each week thereafter (so 750k in week two, 375k in week three, etc.). LP rewards will start at 19:00 UTC tomorrow.
In case it isn’t obvious - this is extremely high risk. If you choose to participate, please do your best to review the code beforehand. We can’t stress enough that this is an alert for experts only and you can easily get rekt if something goes wrong. This early in a project's history, things often go wrong.
Prepare for the worst, and farm with the best!
Good luck!