HomeCoinsBitcoin (BTC)Yam Suffers Technical Outage Following Scam Accusations

Yam Suffers Technical Outage Following Scam Accusations

- Advertisement -

Yam Suffers Technical Outage Following Scam Accusations

Yam finance (YAM), the latest fad in the crypto space, recently warned the public of a technical bug affecting the ecosystem. 

“We have found a bug in the rebasing contract,” the project said in an Aug. 12 tweet. “All funds in staking contract are safe, as this is an unrelated part of the protocol,” the project added, also noting participants’ Yam token holdings remain unaltered. 

As the decentralized finance, or DeFi, crypto boom continues, something called yield farming has come into the spotlight. Yield farming is essentially the latest passive income fad in crypto. Yam has risen to the top of conversation recently as the headline act in the yield farming sector. 

Unlike many assets in the crypto space, Yam boasts a fluid token supply in search of value stability, based on the market, previous Cointelegraph reporting explained. The processes involves “rebasing” and yCRV, a Yam stablecoin. 

“Rebases following the initial rebase will mint more YAM than intended,” Yam Finance said of the recently uncovered bug in a subsequent tweet. Further tweets explained the project’s proposed bug solution, including setting a 0 rebase level. 

The stated bug follows an Aug. 11 tweet from ShapeShift CEO and crypto expert Erik Voorhees, in which he called Yam a scam. Yam holds as just the latest hype-driven speculative crypto bet amid overall soaring prices. 



First published here

- Advertisement -
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
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,915.00
ethereum
Ethereum (ETH) $ 3,172.22
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 340.38
litecoin
Litecoin (LTC) $ 137.90
eos
EOS (EOS) $ 2.66
okb
OKB (OKB) $ 23.11
tezos
Tezos (XTZ) $ 4.49
leo-token
LEO Token (LEO) $ 6.41
cardano
Cardano (ADA) $ 1.18
monero
Monero (XMR) $ 182.66
stellar
Stellar (XLM) $ 0.237889
chainlink
Chainlink (LINK) $ 18.11
huobi-token
Huobi Token (HT) $ 10.01
tron
TRON (TRX) $ 0.069676
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 113.56
neo
NEO (NEO) $ 24.78
iota
IOTA (MIOTA) $ 0.994682
nem
NEM (XEM) $ 0.118698
zcash
Zcash (ZEC) $ 126.05
maker
Maker (MKR) $ 2,209.49
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 35.44
vechain
VeChain (VET) $ 0.065979
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 47.19
kucoin-shares
KuCoin Token (KCS) $ 20.59
waves
Waves (WAVES) $ 11.57