For background reference, please see the link below: Yam Brand Part 1: Brand Perceptions - RFF
Yam Brand Part 2: Current Vs Desired Brand Perceptions
Now, on to the Yam Brand Part 2: Current vs Desired Perceptions: based on the positive and negative brand perceptions exercise from before, we have constructed a set of Current Perceptions, vs Desired Perceptions for 4 different user groups as follows: 1) Yam Maxi’s, 2) Yam Holders, 3) Yam Prospective Investors, and 4) the General DeFi Public. Please provide input, critique, feedback or questions.
Audience Group 1: Yam Believers
These are people (other than founders and core team members) who hold strong beliefs in the success of Yam and its profitable future. Perhaps this group spans a spectrum of hard core believers to wavering believers.
Group 1: Current Perception
I believe Yam Finance is a great opportunity to get involved on the ground floor with a fair launch, fully decentralized, community run organization. The founders are credible and trustworthy. Even though I’ve lost money on this investment to date, I see a lot of potential and future value to be built, and I can see progress happening now. Unfortunately most people still don’t understand the Yam. Right now we need to create more demand and excitement and bring more in people. We are in the hard part, so many parts are still in flux, foundation work is needed, and I don’t think anyone really knows yet what Yam will become. Not knowing means I’m taking a leap of faith.
Group 1: Desired Perception
I’m fully engaged with Yam helping to create something new and special via (big YAM holder, contributing time and expertise, and or evangelist). There’s a lot of great talent here, and the community is super engaged. Yam has several really unique protocols in the dev right now and a bunch more already proposed. The Yam vision is very compelling. The idea of creating a fully open and decentralized community run DAO with a treasury it uses to fund innovative ideas to push the edge of DeFi is what excites me the most. Being a Yammer is about having fun now and building an important DeFi organization that will return huge value to Yam holders.
Audience Group 2: YAM Token Holders
This group includes current YAM token holders. The level of satisfaction and loyalty among this group is highly variable, both between one holder to the next, but also as a variable that changes from day-to-day in any one holder. The dynamic of emotions and thoughts about Yam are perhaps amplified because their investment is locked up in the two evils of a deflated token price, and the investment into an inaccessible treasury. The latter of which many from this group did not understand they were getting into.
Group 2: Current Perception
Yam did not turn out the way I expected. My losses are big and there is slow incremental movement to change that. I don’t want to bail on this project, but frankly I need to see some progress in the right direction significant enough to convince me to hang in for the long-term. I’m worried about the time it’ll take to get YCP and other protocols out there, especially if we lose momentum or the price of Yam crashes, or people lose interest. I’ve done the calculations, and read the Discord, but I can’t find any short-term value, or any exit decent strategy. I feel a bit trapped in a long-term investment without certainty it’ll pay off. I’d like some assurance that I’m not going to experience the sunk investment effect.
Group 2: Desired Perception
I was an early Yammer through the ups and downs and back up again. Once I realized that I made an investment in an asymmetrical bet, it was all in for me. Yam has established a great community of talent shaping Yam into a force to be dealt with. Like so many things, it started slow but wow is it on fire now, the speed of progress has kicked up; devs, designers, strategists, and the community are working like a well oiled machine on an array of ideas from solid protocols to wildly creative ideas. It’s so exciting to be laying tracks in front of us as we speed along into the unexplored territory of DeFi and the open web. There’s nothing that can get me to sell my Yams.
Audience Group 3: Yam Prospective Investors
This group is made up of people who have heard of Yam at some point and retain at least a casual interest. Some have contemplated buying Yam. Some are trying to figure out what it is and if it might be a good deal at such a low token price. Really, the range is broad and varied, but essentially there is interest, be it low, medium or high. Along with these varying levels of interest are varying levels of skepticism.
Group 3: Current Perception
I’ve heard about Yam and I’m interested in finding out if it’s smart to buy some. The YAM token has dropped so much: is it a good value, or does it have any potential? I’m not sure what role the rebased token plays, or what the tokenomics are, or what Yam is, or what it plans to be. I like the fair launch, token distribution, decentralization and DAO. And I hear they have built a healthy treasury, but I’m not really sure what that means for YAM holders. I’d like to learn more but it’s hard to understand, it seems like they just aren’t organized yet. At least they are passing some government proposals. The Discord people are helpful but it’s just so complicated, and I see a lot of comments from people who lost a lot of money. I don’t want to buy a loser token or get rug-pulled or have the founders take off with the treasury.
Group 3: Desired Perception
I understand now what Yam is now after checking out the new content on their website. These guys seem to be really solid, and in it for the long haul. But they have something unique — their secret sauce — the focus on innovation and experimentation. They call it a playground for people to do things that have never been done before, things that can’t be done in a standard organization. Yam is the best of a fully decentralized community that effectively coordinates capital to build financial, and other web3 services that add value to its community, and to the broader DeFi space. This is the kind of opportunity I’ve been looking for. It fits between the slower moving DeFi blue-chips, and the fly-by-night yield farms. I’m buying Yam and getting involved with the community and you should too.
Audience Group 4: General DeFi Public
This general group is bound by the fact that they are not considering Yam as an option for whatever reason. And actually, we can’t assume they have this current perception, as the different types of perceptions are probably all over the board. At least this group provides a way to address a general group that is not considering Yam at the moment.
Group 4: Current Perception
Oh yea the original food coin, YAM was part of the yield farming craze in the summer bull run when all those food coins started coming out. I made some good money early on in yield farming but that’s pretty much over now. I heard some good podcast interviews, but also some not so favorable comments too. I’m kinda over chasing the high APY thing anyway, I knew it couldn’t last forever. But sure, if I can get good returns from one of the big players, I’d go for that. Pickle and Harvest are doing some pretty solid stuff, but the risks are pretty high still, plus will they stick around. I know I can trust Aave, Yearn, Compound, Maker, and Nexus for basic DeFi services anyway, at least they’ve been around for a long time. New projects are entering the space now too, so I’m keeping my eye out for something unique that solves real problems or provides real value, something that has good market fit or does something that hasn’t been done before. I’d like to find something that has potential but isn’t oversold yet.
Group 4: Desired Perception
I remember Yam was one of the first fair launch projects along with YFI. It’s so cool to see that they’ve been able to rise from the ashes. They’ve introduced some very interesting products. I like that it’s very decentralized and the community controls their treasury for funding cool projects. This Yam Factory thing is crazy, it’s like a virtual global sandbox where devs and creatives spin up experimental ideas, push the edge and generally seem to be trying things that have never been done before. It’s a pretty unique model, and I think we’ll see a lot of ground breaking products coming out of it.
I like Yam’s ethics, as a commitment to making a better world via DeFi, repudiating the power lockups and gaming of legacy finance, or market monopolization in Web 2. And I like Yam’s long-term philosophy to stay at the leading edge of DeFi but doing so under processes and procedures that assure success. The Yam Forward Framework helps me feel confident of Yam’s future viability – its a framework for building defensible network effects into their products, which compliments the anti-fragility of the Yam treasury liquidity and its super dedicated community.
Those are the main reasons I’m part of the YAM Fam and considering being a YCP LP. I’m also looking into getting involved with the community in a bigger way — Yam’s looking like a good place to invest my money and my time and my confidence.