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

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