Bitcoin

Yam Finance is saved at the last minute

After a tense day, the most talked about was the new DeFi protocol (decentralized finance) YAM Finance has overcome an almost catastrophic code glitch.

Yam Finance’s future was abruptly challenged today when a bug in the log code resulted in excessive YAM reserves being minted. making it “impossible to take government action in the future”.

The project quickly sought community support and offered rewards to YAM miners and token holders willing to invest their tokens in a 160,000 coin pool to get the government back on log before the 7 a.m. UTC deadline, leaving only seven hours to complete the project save.

Yam Finance is saved at the last minute
Yam Finance is saved at the last minute

After a final wave of support, YAM exceeded its target in just 90 minutes.

The DeFi community unites to save YAM

While the outlook for Yam looked bleak, only a third of the tokens required contributed two hours to the campaign. The widespread efforts of the entire DeFi community quickly found strong support for the protocol.

The support included efforts to CoinGecko, Synthetix, and Curve financing Promote contributions to Yam’s campaignwhile numerous “benevolent whales of YAM” they cultivated YAM on Uniswap to increase the number of tokens allocated to restore governance.

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