HomeCoinsEthereum (ETH)Yield farmers deposit $76M in unaudited DeFi challenge in lower than an...

Yield farmers deposit $76M in unaudited DeFi challenge in lower than an hour

- Advertisement -


Yield farmers are going wild for YAM — not the vegetable, the newly launched DeFi challenge.

Mimicking the elastic provide of Ampleforth, Yam is an “experimental protocol mashing up among the most fun improvements in programmable cash and governance,” in keeping with a Medium put up by the group. Launched at 7:00 PM UTC on Tuesday, the challenge started distributing its YAM tokens to eight staking swimming pools. Liquidity suppliers are required to supply one of many eight tokens in one of many swimming pools to obtain YAM tokens in return. These tokens are: COMP, LEND, LINK, MKR, SNX, WETH, YFI and ETH/AMPL Uniswap v2 LP tokens.

By The Block’s depend, roughly $76 million in tokens have been deposited in these contracts regardless of Yam’s weblog put up warning that no audits have been carried out on its contracts. 

“We strongly urge warning to anybody who chooses to interact with these contracts and assume a correct skilled audit could be extremely advisable if this challenge will get any significant use,” the weblog put up reads.

© 2020 The Block Crypto, Inc. All Rights Reserved. This text is supplied for informational functions solely. It’s not supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation.



Supply hyperlink

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,494FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,112.00
ethereum
Ethereum (ETH) $ 3,040.02
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 501.51
litecoin
Litecoin (LTC) $ 149.66
eos
EOS (EOS) $ 3.94
okb
OKB (OKB) $ 12.77
tezos
Tezos (XTZ) $ 6.41
leo-token
LEO Token (LEO) $ 2.80
cardano
Cardano (ADA) $ 2.19
monero
Monero (XMR) $ 235.29
stellar
Stellar (XLM) $ 0.274258
chainlink
Chainlink (LINK) $ 24.28
huobi-token
Huobi Token (HT) $ 6.98
tron
TRON (TRX) $ 0.087199
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 161.17
neo
NEO (NEO) $ 38.38
iota
IOTA (MIOTA) $ 1.16
nem
NEM (XEM) $ 0.145987
zcash
Zcash (ZEC) $ 110.62
maker
Maker (MKR) $ 2,331.83
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 46.63
vechain
VeChain (VET) $ 0.090836
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 55.43
kucoin-shares
KuCoin Token (KCS) $ 10.63
waves
Waves (WAVES) $ 23.67