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Ethereum Rebasing

YAM Finance (YAM) token explained

A simple explanation of how the YAM token works. YAM is a monetary experiment with supply that increases and decreases.

YAM token is


YAM is the governance token for Yam Finance, and an elastic supply currency. It’s the original “food coin” on Ethereum.

YAM token is used for


  • Governance of the protocol

Proposals are discussed in the forum and voted off-chain.

  • To submit a governance proposal you will initially need 1 % of total supply.
  • Minimum amount for a valid proposal is 4% of total supply.

Why would value accrue to YAM?


  • Treasury

Every positive rebase the protocol mints 5% YAM and sells for ETH, and then yUSD. This is then kept in the treasury that is governed by YAM holders.

Possible value creation

How does Yam.Finance work?


YAM Finance is a rebasing token similar to Ampleforth. It increases or decreases YAM supply to target a value of $1 USD per token.

YAM aims for a fair distribution with no premine, vesting or presale.

How does Rebasing work?


The price target for YAM is $1.

  • Rebasing (increase or decrease in supply to reach a price target) takes place every 12 hours.
  • 10% of the rebasing amount issued is used to purchase yCRV and added to treasury.
  • The treasury is governed by token holders.

Read more here.

Total Supply


Current supply – Variable

Yam is looking into removing rebase and adding a 3% annual inflation instead.

YAM Price


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