TechFlow news — According to an official disclosure by YAM Finance, a bug has been discovered in YAM's rebasing contract that causes more YAM tokens to be generated than expected after supply adjustments. However, all staked funds are safe, as this bug is unrelated to the core protocol, and users' YAM balances remain unaffected.
To address the issue, a two-part proposal has been submitted: 1. Set rebase to 0 — this will pause the rebase mechanism, allowing time for a full fix to be implemented. 2. Reset the YAM reserves to zero — this will eliminate the excess YAM tokens in the reserve.
Since YAM operates under decentralized governance (DAO), the new proposal requires token holders to participate in voting. Delegated votes must keep their YAM holdings unchanged until the 16th; although the tokens aren't locked, any withdrawal of YAM from the wallet will invalidate the associated vote. YAM farmers can either follow community guidance or choose to sell promptly.
Currently, YAM’s price has plummeted 78%, trading at $13.80.
