YAM: The $0 to $100M to $0 DeFi Speedrun

In August 2020, a weird vegetable-themed protocol launched: YAM Finance

No VC
No roadmap
Just a fair launch and pure DeFi energy

Within 24 hours, YAM’s market cap skyrocketed to $100 million
Degens farmed it like crazy

Then
A single bug in the rebase function broke the system
Governance failed
And the whole thing collapsed back to $0

It was a beautiful disaster
A lesson in code risk
And a moment that defined DeFi summer

YAM: The $0 to $100M to $0 DeFi Speedrun

In August 2020, a weird vegetable-themed protocol launched: YAM Finance

No VC
No roadmap
Just a fair launch and pure DeFi energy

Within 24 hours, YAM’s market cap skyrocketed to $100 million
Degens farmed it like crazy

Then
A single bug in the rebase function broke the system
Governance failed
And the whole thing collapsed back to $0

It was a beautiful disaster
A lesson in code risk
And a moment that defined DeFi summer

https://defirate.com/yam-finance-explained/