Yam Finance Token Holders Are Debating Whether to Dissolve Treasury

Token holders of DeFi project Yam Finance are debating whether to dissolve the project’s treasury and distribute the funds among token holders in an attempt to salvage what’s left of the project. "After years of Yam contributors making various efforts in different and sometimes conflicting directions, we believe that Yam has reached a critical juncture where it can either continue on its downward trajectory (about 97.69% value destruction from ATH) or allow token holders to redeem the assets that they rightfully own," wrote a community member called 1tx in the proposal. Core contributors are taking more than $30,000 out of the treasury each month to fund development work, 1tx wrote, yet there was not much to show for this. The proposal would largely shut the project down, stop funding further development and split treasury assets among token holders — with anything unclaimed going to charity.

Source

DeFi

Governance

Related News
Term Finance recovers $1 million of $1.6 million loss to oracle configuration error Term Finance recovers $1 million of $1.6 million loss to oracle configuration error
Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum
Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51 Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51
Radiant Capital hacker moves $52M in stolen funds Radiant Capital hacker moves $52M in stolen funds
Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham
Latest News More More
1 Day Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
6 Days Ago Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
June 20 Kraken offers bitcoin ‘staking’ yield via Babylon without wrapping or lending
June 17 Trump makes over $57 million from WLFI sales, Truth Social files for Bitcoin and Ethereum combo ETF, and more
June 13 XRP Ledger adopts USDC one week after Circle goes public
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open