| General information | |
|---|---|
| Global rank: | 4996 |
| Name: |
YAM V1 |
| Symbol: | YAM |
| Current coin price (CAD): | 0.214 $ |
| Last hour: | arrow_upward1.26 % |
| Last 24 hours: | arrow_downward-1.94 % |
| Last 7 days: | -1.32 %trending_down |
| Capitalisation (CAD): | 0.000000 $ |
| Volume 24h (CAD): | 19 598.94 $ |
| Available supply: | 0.000000 YAM |
| Total coin supply: | -1 YAM |
| Start date: | 2020-09-18 |
YAM V1/Canadian Dollar (YAM/CAD) price chart
YAM V1/Canadian Dollar (YAM/CAD) capitalisation and volume charts
YAM started as a cryptocurrency project within the decentralised finance (DeFi) space, with an initial approach as an algorithmic stablecoin. It introduced a rebasing mechanism intended to adjust its supply to maintain a value pegged to the US dollar. However, as of 29th December 2020, this rebasing feature was disabled by community governance, marking a shift in the project's operational dynamics. While it initially aimed for price stability via its peg to the US dollar, the changes have repositioned YAM in the DeFi landscape.
Originally, YAM’s rebasing mechanism was employed to mitigate price volatility, a common issue in the cryptocurrency world. With its rebase feature now archived, YAM's current utility within its ecosystem may have shifted towards more traditional DeFi roles, including yield farming, liquidity providing, or functioning within governance protocols. Holders might use YAM for various purposes, from speculative investment to participating in governance by proposing and voting on changes in the protocol, thus actively shaping the project’s trajectory.