The project team got no allocation of YAM and released all the tokens for FREE. The goal of this was to build a community who were then ok with helping to fund and build the project. Paying salaries is part of building a project.
The project team is behaving like a project team that has been working on making YAMs more valuable. That value may not be currently reflected in the marketcap, but YAM today is a more robust and developed project than it was 3 months ago, and in 3 months it will be even better positioned. Just because this hasn’t impacted the price doesnt mean it isn’t happening.
This is just blatantly false.
Have you asked to have this shared with you or are you just bringing up red herrings to make your point?
We NEED to be paying market rates. This is how you hire talent. If we want to hire a talented developer or other employee down the road and our sales pitch is “we can give you 50% of your salary normally, but the other 50% is reliant on how many degens buy YAM tokens in the next few months” we will not get anyone. Turning employees into short term investors is not good practice. It creates skewed incentives that push those employees to value the marketcap above anything else. YAM is like a seed stage company. Worrying about returning investor funds immediately will KILL it. This is why startups go to VCs. Because they know they have a runway that they can use to build their product. Most VC investments are locked for YEARS.
YAM’s marketcap is generally in the ballpark of other projects that are doing similar things with similar treasuries.
DXDao - $10M MKTcap with 15M dollar treasury and multiple products
BASED - $7M MKTcap with similar fair launch and defi collaborations
PieDAO - $5M MKTcap with 6M TVL in Pies and growing
MEME - $4M MKTcap with multiple artist collaborations and projects
In order for the YAM marketcap to expand we need to build products that will bring in revenues. That is what everyone who is on the list to be compensated is focused on. But it wont happen overnight! Making builders focus on getting products out just to raise the marketcap will lead to shitty products and risk security. That is the last thing we want.
We only need 1 great product to increase our marketcap significantly. The beauty of YAM is that it allows anyone to come contribute to it. Anyone with a great idea can come to us and use our resources to build something that will benefit us all. The team is working on products, but also the structure to make this open collective a reality. I am interested in YAM because it can be so much more than just some rebasing token that you buy when it is going up and sell when it is going down. It can be so much more.