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Frequently Asked Questions (FAQ)

What is YAM?​

Yam DAO is a community run Decentralized Autonomous Organization (DAO) innovating at the intersection of decentralized governance and programmable finance. YAM is the governance token for the YAM protocol. Using token voting, YAM holders have direct influence over the YAM treasury and direction of the protocol. Governance discussions take place on Discord and the Yam Governance Forum.

I thought YAM was a rebasing token. What happened?​

On December 29th, 2020 the Yam community voted to disable the rebasing functionality of Yam and the scaling factor of Yam has been fixed at ~2.50. Read more on the History page.

What is BOU YAM?​

Quorum requirements for Yam are based on balanceOfUnderlying, which are YAMs without the rebasing scalingFactor applied. Since the rebase function has been disabled as of Dec. 29 2020, the scaling factor is currently fixed to 2.50. Your voting power is your balance of Yam tokens / 2.50.

Why are there so many versions of YAM?​

YAM has had a colorful history and you can think of these different versions as upgrades to the DAO and token. The first iteration of the YAM protocol experienced a critical bug that disabled governance. You can read the post-mortem for a full breakdown. This required an emergency move to a new token (YAM v2) to continue the project.

As a stopgap during the period when the YAM contracts were being fixed and audited, the V2 token was used to perform governance tasks. A summary of the V2 interim governance period can be found here. V1 tokens can no longer be migrated into v2 or v3 tokens due to the nature of the bug that caused the need for an emergency migration.

Once the new contracts were ready and audited, they were deployed with a new governance token (YAM v3). This is the governance token for the DAO and is used to vote on governance proposals and treasury allocations. YAM v2 can still be migrated to YAM v3 here.

For a full list of contract addresses, visit the Contract Addresses Page

Are there any farming or liquidity incentives for YAM tokens?​

Go to https://yam.finance/farm to see if there are currently liquidity incentives. The current APY is displayed on the page.

I have a different question not listed here​

Come stop by the YAM Discord and ask! If you think there are questions and answers that are missing please submit a pull request.