DeFi Daily News，August 13th, 2020
1. At 3 a.m. on August 12th, the DeFi project YamFinance started liquid mining. According to TheBlock statistics, less than an hour after YamFinance started the distribution, liquid miners deposited $76 million worth of tokens in the project pledge pool. According to the latest data, after 6 hours of opening, the total locked-up amount of YamFinance has been close to 200 million US dollars. On the morning of August 13th, a bug appeared in Yam, but all funds were safe. The current new proposal requires all yam farmers to vote for governance. The specific operation is to find your own pool at https://yam.finance/farms, bring up the YAM you have dug, do not provide liquidity, and then proxy the YAM to the official on the homepage https://yam.finance.
2.According to the news from the chain, after Yam Finance, a new DeFi project “BASED” started the liquidity mining mechanism and started the token distribution. The chain news query found that up to now, liquid miners have injected more than 12.65 million US dollars into the two pledge pools of the contract.
3. YAM is an experimental protocol for community incubation. It draws on the flexible adjustment mechanism in Ampleforth and carries out some innovations. Meanwhile, YAM is also a flexible supply currency. It expands and shrinks the supply according to market conditions, with the goal of making each YAM worth $1.
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