Cryptocurrency Financial Advisors

Yield Farming With Yam Sees APY Returns Above 300%

Weekly Analyst Thoughts

YAM

Last week was an exciting week in Defi. A new crypto token, Yam Coin, was launched that gives yield farmers APY returns above 300%. The platform allows seven cryptocurrencies to be farmed, and each experienced price rises last week. These tokens are: LEND, LINK, SNX, WETH, MKR, COMP and YFI.  Below, see examples of different yield farming pools that investors can join.

The Yam platform puts a fun spin on liquidity pools with names like Aave Agriculture, Maker Range, and Compounding Hills. Yam coin has an interesting feature similar to Ampleforth called a rebase, which is a new iteration of stablecoins. Yam is not pegged to a value like the US dollar (Ex: USDC), but instead has a target value of $1 and reaches that target value through rebases, which either expand or contract the Yam supply in order to keep its price at its target value. For example, if Yam trades above $1 during a rebase, the Yam Coin supply expands in order to bring Yam back down to its target value of $1. Unfortunately, Yam Coin recently suffered a rebase bug that bricked the project temporarily, but with community funding and a proper audit, Yam 2.0 should be just as exciting as Yam 1.0.

By Jacob Stelter

Share:

Email
Facebook
Twitter
LinkedIn
Telegram
WhatsApp
Reddit

Social Media

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.

Categories

On Key

Related Posts

woman wearing apple vision pro headset

Token Spotlight: Render Network $RNDR

The Render Network: Revolutionizing GPU Rendering and Its Potential Synergy with Apple’s XR Future By Zachary Profeta, Portfolio Manager at Sarson Funds,

Gamers go crypto

100 Million Gamers Go Crypto

 By, Evan LaMontagne, Blockchain & Gaming Analyst at Sarson Funds Game Economies, something few understood 10 years ago, but is

People on devices in the style of Norman Rockwell. Credit open.ai

Web3 My Business: Starter Pack

  Executive Summary: These crypto startups are turning Web3 communities into profit centers for businesses: Blocksee – NFT minting and