Yam Finance developers are keen on bringing new additions to the protocol despite the successful execution of the first rebase.
Effectively, Yam has concluded its food-oriented clone protocol’s first rebase after the V3 launch. The relaunch of Yam Finance’s V3 follows a massive setback of Yam V2 previous month.
A bug in Yam V2 led to making governance token impossible and setting supply of token 10x higher than the intended design. Yam Finance resembles with Yearn.Finance in terms of name and claims to be an experiment in fair trade farming, elasticity, and governance. Currently, Yam Finance is hovering above 1 yUSD each token rebasing supply at an interval of 12 hours. In case the price of Yam drops below $1 then no rebase will take place.
As the world is in the initial stages of getting familiar with the potential of DeFi. the demand for DeFi tokens will peak in the peak in the near term.
The first rebase of Yam V3 occurred a week ago, making $571,000 worth of Yam tokens and increasing the holders by 2.49 times – dropping Yam from sky to ground. The price of Yam token fell from $20 to $7 causing investors to lose a chunk of their money.
Yam Finance to enhance governance
Apart from the occurrence of rebasing, in a medium post, Yam Finance claims that its framework is not fully optimized.
The post reads that Yam yet needs to improve the governance and liquidity incentivization while rebasing the methods to underpin protocol.
Furthermore, it suggests that Yam should execute rebasing with a bigger frequency to overcome the impact on the market due to acquisitions conducted by Yam treasury.
Yam Finance is streamlining new strategies that uplift the token and shoot its price to all-time highs. The token is yet to recover previous losses after dropping from an all-time high. The Yam developers are keen on introducing new features and programs.
For instance, on-chain governance will be live in a few days, on-chain analytics platform will be introduced by Yam. And as time goes by, Yam plans to develop new rewards for core developers, community moderators, and infrastructure moderators.