DeFi Meme Coin YAM Succumbs to Fatal ‘Rebase’ Bug
(Amuzujoe/Wikimedia Commons)
DeFi Meme Coin YAM Succumbs to Fatal ‘Rebase’ Bug
DeFi meme coin ‘YAM’ has succumbed to a bug within its rebase function, meaning the coin has lost control of its on-chain governance feature.
- All of the roughly $750,000 Curve tokens stored in the project’s treasury are lost as well, according to a Medium blog from the team.
- Launched Tuesday, YAM had $585 million assets under lock as of 4:30 UTC.
- YAM’s code contained a bug that issued “excess” rebase supply to the token’s treasury.
- The bug made the project’s on-chain governance feature unusable.
- A possible fix slipped through the cracks early Thursday morning. Yam Finance co-founder Brock Elmore voiced his regret in a tweet.
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