Editors Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.
Editors Note: This article comes from
Chatting with Xiaozha (ID: xiaonazha88)
, reprinted by Odaily with authorization.
At 00:20 on August 23, 2020, the migration from YAMV1 to YAMV2 was completed. YAMV1 officially ended and entered the era of YAMV2.
The migration from YAMV1 to YAMV2 went smoothly, and the process of migration also reflected the strong cohesion of the YAM community. YAM, which has no intrinsic value and only has governance rights, is loved by everyone, which makes 1inch, the big brother of the aggregation transaction, jealous. .
However, YAM has already started to do things, awarding an NFT of YAM Heros to those who participated in the community voting to save sweet potatoes. When will YAMV3 come, it depends on the community governance vote on August 24.
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The total supply of YAMV2 is 5 million. YAMV2 has no rebase mechanism, which means that there is no inflation and deflation, and there is no mining. The mining mechanism has to wait for YAMV3.
YAMV1 migrated to YAMV2, a total of 3.726 million pieces were migrated. It means that the circulation of YAMV2 is only 3.726 million pieces.
In YAMV1, the total mined YAMV1 divided by the number of rebases is 3,783,817 pieces. That is to say, 98.5% of YAMV1 migrated to YAMV2, and less than 2% of YAMV1 did not know why they kept it. Keeping it means returning to zero. Maybe this part of YAMV1 is kept as a souvenir?
In the process of migrating from YAMV1 to YAMV2, the price of YAMV1 did not fluctuate greatly, and the transition was relatively smooth. In the mining pool 2 of YAMV1, $5 million of funds were not withdrawn from the mining pool until half an hour before the migration was closed. It was really digging out the last YAM and not wasting every YAM.https://poap.delivery/yam/secondary title
2. YAM Heroes, NFT reward voters
YAM went online for 38 hours, and went through peaks and troughs, during which the action to save YAM took place. In order to reward users who participated in the rescue operation, YAM has created material rewards and spiritual rewards. Material rewards are directly awarded to YAM, but still need to be decided by community vote. For spiritual rewards, YAM created an NFT token of YAM Heroes, which is given to the addresses participating in the voting.
. Although I dont know what is the use of this YAM Heros. If YAMV3 rises, then YAM Heros has great symbolic significance. At the same time, YAM Heros is an NFT concept currency, and the number is not large, and there will be a good room for hype.
Therefore, no matter what he is, lets talk about it first.
However, although there is no value in issuing a YAM Heros voting commemorative coin, from the perspective of community culture construction, it can encourage everyone to participate in the voting governance of the YAM community to a certain extent. After all, YAM is a governance token.
The same governance token, YFI, which also has no public offering, no team reservation, and no pre-mining project, has surpassed BTC and flew to the sky. Where can YAM go? It also depends on YAMs ability to do things.
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3. The start of YAM voting governance will determine the arrival of YAMV3
The purpose of the migration from YAMV1 to YAMV2 is to allow critical management decisions to be made during the stagnation period when the entire YAN protocol is being reviewed.
YAM announced that: In order to facilitate the governance process, a governance forum will be launched on Monday, 8/24, using token holder signatures for off-chain voting, and community members will be able to submit proposals for voting. The number and complexity of proposals could have a significant impact on the timeline for YAMV3 release.
4. 1inch cant hide its jealousy towards YAM
1inch also started liquidity mining yesterday, providing early participants with 2% of 1inch’s total tokens as a liquidity reward. This was mercilessly criticized by everyone.
