This post includes the edited Yamifesto followed by a new section that breaks it down into an easy to consume list of support points. Be sure to scroll down past the Yamifesto.
Our Mission, Vision and Values.
Yam was originally conceived and launched with three key components: a fair distribution, on-chain governance, and a unique economic experiment in the form of an elastic cryptocurrency with a governable treasury. Yam Protocol mashes up some of the most exciting innovations in programmable money and governance.
Fair and Equitable Distribution: By the community, for the community
Yam is ultra-committed to its community of token holders, developers and contributors, as well as the broader DeFi community as a whole. We seek to build and deploy valuable products and infrastructure that benefit the entire Yam community while fostering an inclusive, energetic and collaborative culture.
Decentralized Treasury and On-chain Governance: We decide together how to invest and grow.
Yam is committed to decentralized protocol ownership in practice, not only in theory. It seeks to leverage its powerful and forward-looking community to both build and guide the protocol, as well as decide how best to invest treasury funds to ensure the success of the project.
Elastic Cryptocurrency Innovation: Unique economics with cutting edge experimentation.
Yam is committed to pioneering at the intersection of decentralized governance and programmable finance. It seeks to utilize the power of the DeFi ecosystem and its novel mechanisms to build new instruments that push the bounds of DeFi forward.
Yam embodies and enables the very promise of what DeFi can become for the world: a global, permissionless financial ecosystem that both mimics and expands the core functionality of traditional financial systems.
While other DeFi ecosystem players subscribe to similar goals, many make various trade-offs for efficiency, security, or profit in place of decentralization and community ownership. These tradeoffs can sometimes be rationalized, but Yam will refuse to stray from our core values, and instead drive confidently forward together with our community to be the example that others will follow.
What happens when the community really does own and control the protocol and decentralization is verifiable on-chain? You begin to push the bounds of DeFi in new ways with new organizational dynamics, new transaction methods, new modes of decision making, and new economics. You create new ideas based on real-time market and community feedback, and launch experiments to prove hypotheses. Yam is therefore in uncharted waters, full of unknowns and possibilities and we like it here. In the midst of these unknowns and possibilities, Yam’s mission serves as its north star.