YAM - hot topic on twitter : What do you think?

seven.71

sr. member

Activity: 770

Merit: 251

live the dream but don't live the dream

Quote from: dishku on August 20, 2020, 06:57:59 AM

Quote from: MCobian on August 20, 2020, 01:23:16 AM

After I found out that YAM token is a new DeFi project, I am not surprised that YAM token becomes a hot topic on Twitter.
Like other DeFi projects, it is only natural for YAM to experience hype, in fact it is still too early to judge the YAM token
profitable or not. Since the YAM token recently opened trades on several exchanges, we will still have to monitor its price
for the next few weeks. Even though the YAM token price is now experiencing a severe dump, imagine it from a price of
$ 183 when open trading. Then dump it up to $ 0.26 and now it's starting to go up again to $ 0.97. So there is still hope
for the YAM token to rise again, but it is impossible in the near future back to all time high prices again.

Maybe you are not aware the current situation that's why you are still dreaming to see comeback of this token. It was bad experiment of some stupid persons who don't have knowledge of coding and launched this project in hurry and due a critical bug $500 million stuck into this project which is very big loss.

I agree with your statement that they were too hasty without paying attention to security in a system which resulted in huge losses for the community and they are now trying to rebuild the narrative through audits with gitcoin funding but I have to say YAM is absolute stupidity

tetrisdancyo

jr. member

Activity: 240

Merit: 5

Quote from: MCobian on August 20, 2020, 01:23:16 AM

After I found out that YAM token is a new DeFi project, I am not surprised that YAM token becomes a hot topic on Twitter.
Like other DeFi projects, it is only natural for YAM to experience hype, in fact it is still too early to judge the YAM token
profitable or not. Since the YAM token recently opened trades on several exchanges, we will still have to monitor its price
for the next few weeks. Even though the YAM token price is now experiencing a severe dump, imagine it from a price of
$ 183 when open trading. Then dump it up to $ 0.26 and now it's starting to go up again to $ 0.97. So there is still hope
for the YAM token to rise again, but it is impossible in the near future back to all time high prices again.

I really don't know if it's going to be a success or not, as we're just getting started. There are a lot of innovative behaviors like reducing the total supply and adding rebasing features after the transition. However, i think, the short-term demand will decrease due to the number of tokens that can be earned by harvesting is reduced

dishku

legendary

Activity: 1918

Merit: 1003

Quote from: MCobian on August 20, 2020, 01:23:16 AM

After I found out that YAM token is a new DeFi project, I am not surprised that YAM token becomes a hot topic on Twitter.
Like other DeFi projects, it is only natural for YAM to experience hype, in fact it is still too early to judge the YAM token
profitable or not. Since the YAM token recently opened trades on several exchanges, we will still have to monitor its price
for the next few weeks. Even though the YAM token price is now experiencing a severe dump, imagine it from a price of
$ 183 when open trading. Then dump it up to $ 0.26 and now it's starting to go up again to $ 0.97. So there is still hope
for the YAM token to rise again, but it is impossible in the near future back to all time high prices again.

Maybe you are not aware the current situation that's why you are still dreaming to see comeback of this token. It was bad experiment of some stupid persons who don't have knowledge of coding and launched this project in hurry and due a critical bug $500 million stuck into this project which is very big loss.

MCobian

full member

Activity: 1190

Merit: 117

After I found out that YAM token is a new DeFi project, I am not surprised that YAM token becomes a hot topic on Twitter.
Like other DeFi projects, it is only natural for YAM to experience hype, in fact it is still too early to judge the YAM token
profitable or not. Since the YAM token recently opened trades on several exchanges, we will still have to monitor its price
for the next few weeks. Even though the YAM token price is now experiencing a severe dump, imagine it from a price of
$ 183 when open trading. Then dump it up to $ 0.26 and now it's starting to go up again to $ 0.97. So there is still hope
for the YAM token to rise again, but it is impossible in the near future back to all time high prices again.

leea-1334

hero member

Activity: 2338

Merit: 953

Temporary forum vacation

Heh,,, so strange to read things like this that they are actually only NOW hiring people for Audit and that too also through Gitcoin. Like, come on guys,,, do you not need to do these things FIRST in the earlier instance? Shows us all who these guys are and what these guys do. And still people go in.

tetrisdancyo

jr. member

Activity: 240

Merit: 5

Quote from: seven.71 on August 19, 2020, 06:26:40 PM

Quote from: tetrisdancyo on August 18, 2020, 08:04:00 PM

Probably within 48 hours, the YAM audit will be completed. Also, the wave 1 yields farming will be finished. I pulled up the YAM I was farming.

I read their announcement that they will move from YAMv1 to YAMv2 and if their audit is complete and no bugs occur they will migrate back to YAMv3, but here I regret that in the migration process they set a time of 72 hours and if they don't do that within that time the token can't be used that's the bad thing about this project
if I forget about the migration, maybe my money will be lost a second time after the dump price from $100 to $0.5 is very painful guys

i only joined farming and harvest, not buying. but gas fee is too high to pull out YAM. and i dont think YAM is going to be as YFI due to rebasing.

tetrisdancyo

jr. member

Activity: 240

Merit: 5

Quote from: OXUS on August 19, 2020, 06:48:19 PM

Is it a good flip to buy V1 and swap it for V2 ... u think value of V2 would increase after swap ?

I think the number of circulating supplies will decrease. If the user's YAM is small, it's because the gas money is wasted to move to V2. This would be a buying pressure. But there are many things I don't understand. The team says it will reduce the supply numbers after the transition, but I don't know how this will affect the buying pressure.

OXUS

full member

Activity: 253

Merit: 101

KEK

Is it a good flip to buy V1 and swap it for V2 ... u think value of V2 would increase after swap ?

seven.71

sr. member

Activity: 770

Merit: 251

live the dream but don't live the dream

Quote from: tetrisdancyo on August 18, 2020, 08:04:00 PM

Probably within 48 hours, the YAM audit will be completed. Also, the wave 1 yields farming will be finished. I pulled up the YAM I was farming.

I read their announcement that they will move from YAMv1 to YAMv2 and if their audit is complete and no bugs occur they will migrate back to YAMv3, but here I regret that in the migration process they set a time of 72 hours and if they don't do that within that time the token can't be used that's the bad thing about this project
if I forget about the migration, maybe my money will be lost a second time after the dump price from $100 to $0.5 is very painful guys

tetrisdancyo

jr. member

Activity: 240

Merit: 5

Probably within 48 hours, the YAM audit will be completed. Also, the wave 1 yields farming will be finished. I pulled up the YAM I was farming.

seven.71

sr. member

Activity: 770

Merit: 251

live the dream but don't live the dream

Quote from: tetrisdancyo on August 14, 2020, 03:47:13 PM

They have successfully raised funds 75k$ for a protocol audit via gitcoin, and have launched an official discord channel (800 people have already joined). This is an interesting move. The token price hasn't jumped significantly for now.

they get funds from their own team after getting quite a large amount of funds from the dump of YAM prices, I am not surprised by that, they are trying to restore public confidence but it's a huge loss for their supporters so it is useless rubbish

shakesbear

member

Activity: 684

Merit: 10

I did not expect that they would be able to collect such a sum, I thought that everyone would stop paying attention to YAM, but thay have direct popular love.

tetrisdancyo

jr. member

Activity: 240

Merit: 5

They have successfully raised funds 75k$ for a protocol audit via gitcoin, and have launched an official discord channel (800 people have already joined). This is an interesting move. The token price hasn't jumped significantly for now.

seven.71

sr. member

Activity: 770

Merit: 251

live the dream but don't live the dream

Quote from: ?? on ??

What step would you like to take when you see their prices fall too deep, in just two days?
I personally don't dare to enter and can only see what happens next.

There is nothing to do, at the expense of such a huge loss and just hope for a miracle to rise again if I am in that position

Quote from: jossiel on August 14, 2020, 08:41:54 AM

Just after a day I have posted. This Yam coin literally turned into a Yam! a food!

I don't know how this coin became popular overnight and turned a massive gain for the devs while leaving the stuck investors out of nowhere with losses. People never learn from the past experiences of the market and personal experiences.

Don't turn into something without validated facts and don't invest if you didn't do research.

YUM internasional lol Grin

ElmedoRator

full member

Activity: 826

Merit: 104

Quote from: donlogan on August 13, 2020, 03:55:42 PM

Yikes. Haven't seen this sort of crash and burn since bitconnect.

That's right mate, this is the 2nd time I've seen such a horrible collapse. Its price dropped 99% in just a few minutes and I really couldn't believe my eyes, a lot of people certainly invested in this project and lost a lot with it.

target

legendary

Activity: 2282

Merit: 1041

Quote from: donlogan on August 13, 2020, 03:55:42 PM

Yikes. Haven't seen this sort of crash and burn since bitconnect.

The crash just too much that I think it will not even recover anymore and investors will just treat the project as scam. None of the project I have seen drop like this and now they are restarting it again. It would be interesting to see if its really going to climb up back to its initial price.

If you however trust the team and willing to risk, investing to it right now while its price is in its lowest is good.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Just after a day I have posted. This Yam coin literally turned into a Yam! a food!

I don't know how this coin became popular overnight and turned a massive gain for the devs while leaving the stuck investors out of nowhere with losses. People never learn from the past experiences of the market and personal experiences.

Don't turn into something without validated facts and don't invest if you didn't do research.

goaldigger

sr. member

Activity: 2422

Merit: 357

DeFi project is on a hot topic no matter what the name of the project, there’s a big hype on that so no wonder they are on hot topic. Though they really looks the same offering the same services so I’m thinking if its really worth it to invest, or better to buy the DeFi project that is already on the top of them. If its on a hot topic then you must know it by your own why they are on a hot topic, to know if its not just a hype or a trap.

Perfect35

member

Activity: 854

Merit: 10

Even if they had no white paper, they could have at least made a deck and add all the basic info to it. That is the easiest way to avoid any form of embarrassment. Although, it seems there are several other reasons why people felt they should nor be trusted.

tetrisdancyo

jr. member

Activity: 240

Merit: 5

Quote from: AmoreJaz on August 13, 2020, 04:55:30 PM

Quote from: LbtalkL on August 13, 2020, 01:03:11 PM

Quote from: tetrisdancyo on August 12, 2020, 11:39:02 PM

~

You are not aware that YAM has a major flaw in code that is why it goes down -99%? I guess it's ATH is $167. In my own perspective they are very promising project, if not for that error maybe it will be a different story, But I don't know if they can fixed the trust of their investors for allowing to happen that huge bug not checking it first or being audited.

Source: https://www.dapp.com/article/yam-finance-bug-permanently-break-governance

another blunder in the making. i hope traders/crypto users have already learned their lessons with this kind of strategy. now, look at the price. sudden fall into deep ravine, huh!

This significant drop is a bit different from other tokens because YAM is designed to be split to be adjusted to 1$ by the rebase feature. However, it's currently below 1$, which is a cause for concern.

Topic: YAM - hot topic on twitter : What do you think? (Read 329 times)