YAM V3 is coming, can the reheated sweet potatoes still be eaten?
Editor's Note: This article comes fromBlue Fox Notes (ID: lanhubiji), reprinted by Odaily with authorization.
Blue Fox Notes (ID: lanhubiji)YAM's road to restartBlue Fox Notes (ID: lanhubiji)
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YAM's road to restart
YAM is a completely decentralized community governance. In the process of launching YAM V3, the first step is to propose YAM governance. Judging from YAM’s governance portal, during the week-long period, the community had a lot of discussions, with dozens of proposals.
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(Governance vote by the YAM community to initiate the migration from YAM V2 to YAM V3)
The main topic of the YAM community proposal is the launch of YAM V3. As of 11:59PM UTC on August 31st, the temporary governance period of YAM V2 is over. All proposals that pass resolutions will be implemented on YAM V3. In order to start governance, the YAM team first proposed two proposals, involving the proposal mechanism of the governance process and the initial parameters of YAM V3. Both proposals were passed:
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(Two initial proposals from the YAM project team received support from the community)
At the same time, the community also gave feedback on the team's proposals, made modifications and supplements, and was finally voted by the community.
Minor Protocol Update
Change the reserve asset to yUSD (yyCRV)
Add sync() call on Uniswap V2 pool for YAM V3/ETH
Hardcoded proposal (50k pre-rebase), quorum (200k pre-rebase) thresholds
Set the voting period to 2 days
Migrate from YAM V2 to YAM V3 according to 1:1 migration, there is no deadline, 50% of which can be redeemed immediately, and the remaining 50% will be gradually unlocked in 30 days. This means that at the time of YAM V3 migration, theoretically a maximum of 2.5 million can be migrated, and the number will gradually increase in the future.
Liquidity Mining Rewards
Rewards for saving YAM
For the last action to save YAM, the entire YAM community worked together and showed great community resilience and enthusiasm. Therefore, the community members who participated in saving YAM will be rewarded, which fulfills the promise of the original YAM team:
Those whose delegated votes are equal to or lower than 27 votes will receive 27 YAM V3 rewards uniformly, and users with more than 27 votes will receive corresponding YAM V3 token rewards.
Liquidity Mining Rewards
The Uniswap LP pool of YAM V3/yUSD will be rewarded with a total of approximately 925,000 YAM V3 tokens. Liquidity providers in this pool will be rewarded with 92,500 YAM V3 tokens in the first week, and will decrease by 10% every week thereafter.
Remedy for missed YAM V1 migration
YAM will use the balance snapshot at the end of the V1 to V2 migration, and YAM plans to create multi-signatures to help users who missed the migration. However, YAMV1 purchased after the migration window closes does not count.
Auditing of YAM V3
The audit, carried out by Peckshield, began on August 31 and is expected to be completed in the coming weeks.
Looking forward to the arrival of YAM V3
