TechFlow news, Yam Finance (YAM) core developer belmore just tweeted: "I'm sorry, everyone. I failed. Thank you all for your tremendous support today. I'm heartbroken."
Earlier news reported that a bug was discovered in YAM's rebalancing mechanism, requiring sufficient votes (160,000 tokens) before 3:00 PM on August 13 to pass a proposal and fix the issue. The recent vote to repair the rebalancing mechanism has now met the minimum delegation requirement of 160,000 tokens. Official data shows that over 170,000 YAM tokens have been delegated by holders, giving the protocol a chance to successfully amend the contract, correct the error, and allow the project to continue. According to CoinGecko, the price of Yam Finance (YAM) is currently $1.88, down 97.7% in the past 24 hours.
