YAM V3
Crypto Overview
Overview
YAM V3 is a decentralized cryptocurrency protocol launched in 2020 as an experimental DeFi governance token. The project aimed to create a community-governed financial protocol with elastic supply mechanics.
Purpose and Utility
The primary intended utility of YAM is governance rights over the protocol's treasury and decision-making. Token holders can propose and vote on protocol changes and treasury allocations. The protocol originally featured rebasing mechanics to target a USD peg, though this feature was later modified.
Current Usage
On-chain analysis shows very limited current usage of the YAM token. The project's governance participation has declined significantly since its launch, and treasury activities appear minimal. Development activity has also been sparse in recent periods.
Business Model Evaluation
The core business model revolves around community governance of a treasury and protocol parameters. While the governance utility itself is permissible from a Shariah perspective, the protocol has implemented yield farming and lending features that involve interest-bearing mechanisms.
Token Distribution
The token distribution included no pre-mine for founders and was launched with a fair distribution model through yield farming. There were no lockups or vesting periods since the team did not allocate tokens to themselves initially.
Crypto Impact
To assign a comfort level investing in YAM V3 from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to YAM V3.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.