YAM gained 22M in liquidity within just two days. What's the secret?

Hey guys, noticed this morning that the whole crypto twitter is talking about YAM project.

Started researching and find out that they gained $22M in liquidity within just two days.

Any thoughts about why it happened?

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YAM is dead few minutes ago :upside_down_face:

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For me it sounds like those guys just hyping around?)

I’ll wait for a Medium post about the YAM end story, but it seems epic:

  • They tried to fix something via onchain gouvernance.
  • They succeeded to get an onchain quorum in less than 1 day, incredible.
  • They failed to keep the onchain quorum because of the “rebase” feature they added
  • End of the story
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Will leave it here. Very interesting case to learn about)

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YAM the SCAM…uahuahuahuah.
anyway i do not approve that anyone out there can share a platform using already existing platform to farm a new token that gives you 1000% for the first 10 days if it last so long. THis is a whale game where all the others loose money.
Those projects are just for speculation. Thats why INCOGNITO is different . At first we don t have hype NOW because we don t really need hype. Hype is not always good, i think is good if it builded by a community in the medium long time. Short term hype we see mostly on SCAM project where they promise you the PARADISE but at the end you get F***D.
I think the goal of INCOGNITO on DeFi space is to BUILD the best privacy DEX with the cheapest exchanges rate that could be the next USABLE uniswap. i would love to use this platform every day, i would love seeing project using it for IEO ICO and listing liquidity pairs here .
We have at first to build trust about the security of the Network to reach bigger investors, doing audits etc. Everything will come slowly for PRV and would be a much better place to put your Crypto tha YAM YFI or any other .

Have you guys thought about a LENDING and BORROWING market on INCOGNITO?

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Hey @Katoshicoins, agree, the hype approach always used for the short term benefits. I mentioned in the other topic that incognito is just 8 months old and it’s okay to be small in this period of time. We keep building, keep growing, and more and more people joining our privacy movement.

Not sure if we should compete with Uniswap, but

  • we can be a privacy-protecting DEX for Bitcoin and Monero
  • we can add a privacy layer for the uniswap and execute all trades in the incognito mode.

Yep, our goal is to integrate privacy to all features available on public chains

  • store & transfer
  • buy & sell
  • provide liquidity
  • stake
  • lend & borrow
  • Invest & fundraise
  • Privacy for Dapps
  • Mint and redeem stable coins (privacy for MakerDAO)

It’s not the full list, but once it’s completed, there will be no reason to go back to the public :slight_smile:

And it shouldn’t be built by the core team only, we are happy to see more builders creating own application and businesses on top of it.

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Good Morning @andrey,
i think together with privacy we are also “the cheapest DEX” and we are “interoperable”,“cross-chain” with other blockchain.
Actually , not sure, but i think is the only one in the whole crypto world like that.
We have the Ethereum DEXes that , if we continue like that, are impossible to use for an average users. All the other DEXes that are not built on top of Ethereum are not ready to use yet.
We have Swingby,Rune and binance dex for cosmos atom enviroment, but only binance dex is ready to use.
We have Uniswap, airswap , trustswap, matcha and all the aggregators on ethereum but the fees are really high (5$-20$).
I think that not only Privacy could be our goal but also giving the possibility to all the users to use a DEX without having to pay astronomic fees but having the same job done.

I think is an amazing idea. At first we bring privacy to all those activities and we will have a superAPP that we can use for all the activities.

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:upside_down_face::upside_down_face::upside_down_face:

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To be fair the “experiment” they do is quite interesting )

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YAM was just the start now we have yfii yffi spaghetti.finance sushiswap and god knows what else. Funny :joy: :joy: :joy: :joy: :joy: :joy: :joy: :joy: :joy:

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I think there is lot of FOMO around DeFi in these moment, crazy also the case of CVP. Around $200k to be betatester, btw I think that Ethereum based protocol gain traction easier than other. Now people is understanding how to use uniswap, liquidity providing, governance, farming etc. But if you think, is all based on Ethereum. I think that we need time to see this number in protocol not Ethereum Based

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PEARL.FINANCE yeld farming on tron (no fees) that use justswap’ pools