YAM FAM Migration Rescue Airdrop - RFF

YAM FAM Migration Rescue Airdrop

Objective

Airdrop funds to assist users who missed the YAMv1 → YAMv2 migration except for dust accounts, accounts with YAMs only in Uniswap, and unharvested yield accrued to LPs but never claimed.

Summary

Using a snapshot of YAM V1 balances at the last possible block of migration, airdrop YAM V3 according to the following rules:

  • Account has more than a “dust” amount of YAM V1, where ‘dust’ will be defined based on gas costs at the time of the airdrop.
  • The YAM V1 is not in a burn address.
  • The YAM V1 is not in the Uniswap Pool.
  • The YAM V1 was harvested to the user wallet and not left “unclaimed”

Stated clearly, accounts that purchased YAM after the migration block will not be compensated. And accounts that failed migration because they were providing liquidity in Uniswap will also not be compensated. Only YAMs claimed (harvested) to the user’s wallet will be valid, unclaimed yields will not be compensated.

Records of all compensation transactions will be published for inspection by the YAM community.

This is an alternative to “YAM FAM Migration Rescue Multi-sig Fund” and if both pass, would be enacted only if it receives more “approve” votes than the “YAM FAM Migration Rescue Multi-sig Fund” proposal.

Rationale

Around 1.5% of the YAM supply—approximately 75,000 YAM—missed the YAMv1 to YAMv2 migration. The migration window was a rather short 72 hours, and some users did not hear the announcement, could not reach their wallet in time to migrate, or encountered technical difficulties with the migration transactions that prevented migration from succeeding.

By airdropping this small amount of funds to assist these users, the YAM project can demonstrate its commitment to early supporters and invite them to re-engage with the YAM project.

6 Likes

Disagree with this one! It was their fault we should not compensate and increase the total supply…
Can you please quote any example of a project who left out in a swap and they airdropped tokens…
No for me

2 Likes

The 72 hour migration window was MUCH shorter than the migration windows for other projects, much too short in my opinion. This would only increase supply by about 1.5%, which is a small price to pay to bring some enthusiastic early holders back into the project.

I think the optics of this proposal are great marketing for the YAM project and I’d be happy to prepare a snapshot of v1 holders at the block that the migration closed.

5 Likes

I think this is a great move very much in the spirit of #saveyams.

I’m empathetic with the folks who weren’t able to migrate in time. We did sacrifice them in order to have a functioning V2 Government up and running as soon as possible. If V3 has a successful launch I def support going back and making those left behind whole.

2 Likes

There is a lot of compensation being thrown around and i get none of it. This proposal i agree with wholeheartedly. If you are bailing everyone else out,this group is most deserved.

Lets get done with who deserves what and move on to v3

2 Likes

Most users are rising from V1 to V2 at a ratio of 16 to 1 or 10 to 1. Now, because of my own fault, the ratio of 1: 1 rises directly from V1 to V3?

no, it’s still scaled correctly using the Balance of Underlying function. So they get the same share of 5MM tokens in V1 as they do of 5MM tokens in V2 and the same share in V3. No one is getting extra in this proposal, just exactly what they were supposed to if they followed the same migration paths as everyone currently on V2.

Can’t you read what he said ? the migration window was much much shorter compare to other projects !. You greedy , We left believe are also enthusiasm about Yam why we bought in the first place …

YIP-23: YAM FAM Migration Rescue Airdrop or

YIP-22: YAM FAM Migration Rescue Multi-sig Fund

vote yes to this yip to help the lost

This is great. The 72 hr window was far too short, and especially in a global period of unfortunate circumstance, it was bound to cause problems. A minor supply increase is definitely worth it to bring back early community members and keep the YAM FAM whole.

Hey man, I know we all have varying viewpoints on increasing token supply and just all topics in general, but copying and pasting the same replies, likely across multiple accounts, is not the way for people to hear your argument. We’re just here to make the community and project stronger; we’re not enemies and can engage in healthy discourse.

2 Likes

I’m only keen for those who haven’t touched their tokens since before the crash. The others probably picked them up for pennies.

1 Like

It is only for those that missed the swap. A screenshot will show who had some still. No person who bought extra v1 after the swap time ended will be eligible.

1 Like

you telling me you go buy stuff thats faulty and never go back to shop for refund?.

If the shop tells me that it could break and has no warranty, I would not take the item back

Magic - YES PLEASE and thanks. I’m not particularly Tec savvy and not even sure if I qualify (I still hold 51,7 YAM on Metamask) but I think this is the right move.

3 Likes

Seems this has been approved? What next please?

1 Like