YAM Prototype Rethinking

I’ve been thinking about this for a real long time. And I had a chat with Feddas in Discord too. I think the prototype needs a rethinking otherwise no one will buy the token.

The current positive mechanism is stopping people from buying in the token. It takes a percentage of holders token into treasury then dump to buy stable coin. This a negative process where everyone donate their shares to harm their own net worth.

YAM was popular before V3 because people has imagination about the treasury in the DEFI upsurge. High APR farming projects give people a great imagination of the treasury growth, then they expect a return from the treasury. However, after the full prototype is working, treasury didn’t do a magic, it is still a normal treasury with some incomes. Yam holders have no benefits from it. Then the imagination is break. People wont want to go to positive rebase to dilute their holding without any benefits.

One of the solution would be just letting the marketcap drop to the treasury price or find a way to grow the treasury to the marketcap, then use the rage quit to setup a solid ground. This may bring a positive loop when treasury growth marketcap growth then token price growth and positive rebase growth the treasury again. This may be very hard as the dumping is almost finished, only unstable negative rebase can shrink the marketcap, most of time there is even no one clicks the negative rebase.

Or we can consider a speculation approach. Using the treasury to buy in yam at a low marketcap position, then stop the rebase or treasury gathering. There is very small dumping pressure right now. Then release some good news exchange listing, YCP or other product release to pump the price. Then treasury can sell yam gradually to increase the treasury value.

Those may not be good ideas, but the prototype really need some changes, otherwise i think we wont see any positive rebase even with the YCP release. Then in a long run there will be no one shows interesting about this project.

I’ve been here since the bug, and i lost years of saving in this project. I really want to see it raise again, popularity wise and token price wise.

是的,当市场走到现在,应该有清楚的认知,要么改变,要么被市场淘汰。

I think what you’re talking about has less to do with the actual tokenomics of Yam itself and more to do with the branding and communication in place when it first launched prior to the yield farming speculative bubble it kicked off. The fact is that a lot of people don’t understand rebasing yet and don’t see the value in it as a non-dilutive and uncorrelated asset. And frankly, I just don’t think a lot of people had realistic or responsible expectations when they bought in. My feeling is that they just saw a coin whose price was going up and didn’t read the white paper before buying because they didn’t want to miss out. When you have a coin whose price is going up for reasons completely unrelated to its utility or the mechanics described in its white paper, that’s when you know that the price point is not going to last. I think it’s too soon to pass judgement on a token that has been mostly operating as intended up to this point.

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任何关系都是息息相关的,价值决定共识,目前共识度已经基本崩溃,没有原因吗?

What you’ve mentioned is surely true for some people. Some of them lost money due to lack of understanding of the project. However, this is not the problem. The problem is people are not willing to buy the token anymore due to the positive rebase design, which means the treasury may lose the most straightforward income. In addition to that, if a token doesn’t have the potential to increase its price, it will lose the attention from most of people in the market. In a long run, it will be cornered with nearly no liquidity.

It is strongly recommended to modify the treasury tax ratio, too high a ratio scares away many potential users

Just initiate a vote and let the community decide

i dont think simply changing the rate will work. i think we need another way to collect the treasury.

just do it. i’ll support you

@siriusye
If you haven’t already read over this proposal:

This will allow the treasury to directly support the price of Yam. Hopefully this will answer the question of:

There has been lots of discussion of people thinking the treasury does not benefit them. I will be working on bringing more benefits from the treasury to the token holders.

The “Great Yam Wall” aka ragequit will be the first step in using the treasury to support holders. Please take a look over and feedback is appreciated.

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