This, and a lack of meaningful progress, has caused its community to lose faith in the current trajectory. As a result, its token continued to slide, falling from highs of more than $6 to its current price of $0.17. Still, as the DeFi hype faded and attention turned to NFTs, projects like Yam Finance lost the spotlight. The platform would go on to become the seventh-largest DeFi platform during the yield farming craze. It achieved initial success, seeing $600 million in assets in its first 48 hours post-launch, before it was briefly shut down due to a bug.
Yam Finance is an automated yield farming protocol that was born in DeFi Summer and came out of another project called YFI. Token holders of DeFi project Yam Finance are debating whether to dissolve the project’s treasury and distribute the funds among token holders in an attempt to salvage what’s left of the project.
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