Question 1

What is it?

Accepted Answer

YAM started as a cryptocurrency project within the decentralised finance (DeFi) space, with an initial approach as an algorithmic stablecoin. It introduced a rebasing mechanism intended to adjust its supply to maintain a value pegged to the US dollar. However, as of 29th December 2020, this rebasing feature was disabled by community governance, marking a shift in the project's operational dynamics. While it initially aimed for price stability via its peg to the US dollar, the changes have repositioned YAM in the DeFi landscape.

Question 2

What is used for?

Accepted Answer

Originally, YAM’s rebasing mechanism was employed to mitigate price volatility, a common issue in the cryptocurrency world. With its rebase feature now archived, YAM's current utility within its ecosystem may have shifted towards more traditional DeFi roles, including yield farming, liquidity providing, or functioning within governance protocols. Holders might use YAM for various purposes, from speculative investment to participating in governance by proposing and voting on changes in the protocol, thus actively shaping the project’s trajectory.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	YAM-USDT YAM_USDT	gateio	A	0.01469USDT	0.00%	0YAM	0	0.01469USDT	0.01469USDT
2	YAM-USDT YAM_USDT	bibox365	-	0.01450USDT	0.00%	0YAM	0	0.01450USDT	0.01450USDT