Yam Finance Votes to Remove Rebase Mechanism
YAM holders voted to remove the token’s rebase mechanisms, which expanded and contracted supply seeking to establish a stable price, after taking DeFi by storm this summer. Rebases issued and burned new tokens based on the price of YAM, targeting a $1 peg. After migrating to YAM V2 following a smart contract exploit that caused…
By: Cooper Turley •
DeFiYAM holders voted to remove the token’s rebase mechanisms, which expanded and contracted supply seeking to establish a stable price, after taking DeFi by storm this summer. Rebases issued and burned new tokens based on the price of YAM, targeting a $1 peg. After migrating to YAM V2 following a smart contract exploit that caused…
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