DeFi Meme Coin YAM Succumbs to Fatal ‘Rebase’ Bug, Makes Plans for ‘YAM 2.0’
DeFi meme coin YAM has lost control of its on-chain governance feature following a reported bug.
This year's growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon "exuberant."
From first heartbeat to last breath, YAM lasted less than 48 hours. But those are the rules of DeFi’s newest toy: “minimally viable monetary experiments.”
What do these various memecoins do? Here's the rough TL;DR of the latest tokens to top the DeFi charts.
Ethereum fees and miners' profits are at all-time highs. Coinbase is offering bitcoin-backed loans and the Tor Network is subject to a crypto scam.
YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now in the cards.