Coin Price 24h %

Statement on YAM v2 Swap

2020-08-21 02:38:15Read:63798

Yam Finance is proceeding with the YAMv1 to YAMv2 migration process after a successful audit of the migration contract (see details via https://medium.com/@yamfinance/yam-migration-live-955c63766ab8). YAMv1 token holders can now swap to YAM v2 tokens with a 1:1 ratio, non-subject to the YAM rebase.

As YAM has gone through several rebases, the amount of YAM v2 tokens will be calculated based on the original YAM amount before the initial rebase. Gate.io conducted the first YAM rebase on 8:00 PM GMT, August 12th, 2020, and went through 6 rebases altogether; one every 12 hours. Here are the details:

First YAM rebase: At 8:00 PM GMT, August 12th, 2020, the YAM amount became 9.3073661945X larger than before

Second YAM rebase: At 8:00 AM GMT, August 13th, 2020, the YAM amount became 2.0178073329X larger than before

Third YAM rebase: At 8:00 PM GMT, August 13th, 2020, the YAM amount became 0.9525711978X smaller than before

Fourth YAM rebase: At 8:00 AM GMT, August 14th, 2020, YAM amount became 0.9491657367X smaller than before

Fifth YAM rebase: At 8:00 PM GMT, August 14th, 2020, YAM amount became 0.9665174273X smaller than before

Sixth YAM rebase: At 8:00 AM GMT, August 15th, 2020, YAM amount became 0.9740397059X smaller than before

On August 15th, Gate.io suspended YAM rebase (Gate.io Suspends YAM Rebase and Closes Deposits & Withdrawals Until Migration Is Completed https://www.gate.io/en/article/17735); YAM holders can go to My Wallet>>My Billing to check out more details.

The YAM ratio on Gate.io is calculated as 15.9857253054 (9.3073661945*2.0178073329*0.9525711978*0.9491657367*0.9665174273*0.9740397059)

Therefore, 15.9857253054 current YAM on Gate.io=1 original YAM= 1 YAM v2

Gate.io will suspend the YAM trading from 8:00 AM GMT, August 21st, 2020 to 10:00 AM GMT, August 21st, 2020, during which current YAM tokens on the platform will be swapped to YAM 2v tokens at a 15.9857253054:1 ratio. After 10:00 AM GMT, August 21st, 2020, the YAM 2v trading will be enabled at https://www.gate.io/trade/YAMV2_USDT.

Currently, the YAM v2 deposits have been available; users who have finished the token swap can deposit YAM v2 at https://www.gate.io/myaccount/deposit/YAMV2.

Please note that after the YAM v2 deposits and trading are enabled on Gate.io, external assets are expected to flow in the platform. In this case, a severe price fluctuation is likely. Please be cautious when placing orders.

Gate.io will conduct the YAM v3 migration and enable YAM v3 trading in accordance with Yam Finance in the future; users who make a deposit on Gate.io during the deposit suspension period can submit a ticket about the situation and we will adjust the deposit currency to YAM v2 based on the swap ratio. The swap ratio will vary based on different deposit time.

Please note that YAM has undergone 10 additional rebases, outside Gate.io, starting from 8:00 PM GMT, August 16th, 2020 until 4:00 PM GMT, August 20th, 2020. All of the ten rebases have resulted in the reduction of the YAM amount. As a result, the swap ratio of YAM outside Gate.io is subject to the ten additional rebases. However, with the YAM swap scheme, the swap is conducted based on the original YAM amount before 8:00 PM GMT, August 12th, 2020, with the influence from the rebases. Therefore, whether users place their YAM at Gate.io or other decentralized wallets, the swapped amount of YAM v2 token will be the same.

It should be noted that so called “external” YAM, outside Gate.io, cannot be swapped to YAM v2 automatically. Holders have to finish the swap by 4:20PM GMT, August 22nd, 2020. Users who have placed their YAM at decentralized wallels (such as Wallet.io), please go to https://yam.finance to conduct the token swap, or send the YAM in Wallet.io to a Metamask plug-in wallet and go conduct the swap at https://yam.finance (please note that users have to keep their private keys with the Metamask plug-in method). After the token swap, users can send YAM v2 to Gate.io for trading.


Below are the rebase records (JSON format) of YAM as of 4:00 PM GMT, August 20th, 2020

{"data":[{"currType":"ETH","txHash":"0xece2db772236333c92d752e11ecfaa291c882341c45f1f2ada75cebc694c7806","operator":"0xfa91288b3033d095992cf3cb0b0e54b807c3c2ac","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10695869,"blockTime":1597910498,"epoch":16,"supply":"10327037608229025778","ctime":1597910531000,"utime":1597910531000},{"currType":"ETH","txHash":"0xf89d7d53f20c14535b8377a291d7516154cda01219850eeaa97350cfe1e101d3","operator":"0xec3281124d4c2fca8a88e3076c1e7749cfecb7f2","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10692620,"blockTime":1597867834,"epoch":15,"supply":"10537229295167274180","ctime":1597867891000,"utime":1597867891000},{"currType":"ETH","txHash":"0xd2ada6da2d376d120616ae46ae20268e88b96c98cb86d52dc82043ed8acb96f7","operator":"0xce3bd76a757350c85839988079a2a0acf27ec8f4","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10689364,"blockTime":1597824256,"epoch":14,"supply":"10798116097200350819","ctime":1597824291000,"utime":1597824291000},{"currType":"ETH","txHash":"0x4a24406e69821bd2478b4410a151a4f930402746e9efb3548031ba3e0f998885","operator":"0x0ad59c344359fdf8472e7ffbf4eb6af4751138da","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10686087,"blockTime":1597780844,"epoch":13,"supply":"11123071445415645438","ctime":1597780859000,"utime":1597780859000},{"currType":"ETH","txHash":"0xb0aa0a63bcc994b0f46bdd926dc2062318792679df8b46aae891877899d058b7","operator":"0x104da4c57ab6a4885879e67451dab0af4af95479","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10682764,"blockTime":1597737612,"epoch":12,"supply":"11589589179551895942","ctime":1597737639000,"utime":1597737639000},{"currType":"ETH","txHash":"0x3379bb1d2fab33b1391f78fac38103de2554da96768cc0046e434a6f13d74262","operator":"0xec3281124d4c2fca8a88e3076c1e7749cfecb7f2","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10679591,"blockTime":1597694577,"epoch":11,"supply":"12193451105048975899","ctime":1597694620000,"utime":1597694620000},{"currType":"ETH","txHash":"0x71af3da8a8ca503e1ae68dc708772be623024213572192b7a192504cfdfea620","operator":"0x731d4abf892696a2460d20b18cf31bf76bac1722","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10676377,"blockTime":1597651405,"epoch":10,"supply":"12955002278062718827","ctime":1597651425000,"utime":1597651425000},{"currType":"ETH","txHash":"0xab9f2f2e188fc4cd8d0755c2eedc77bb7aab705f5493704576b802617fc583b0","operator":"0xc2155d4d8e2028f088e1c11b9d088cc899958916","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10673150,"blockTime":1597608243,"epoch":9,"supply":"13845372019807670051","ctime":1597608316000,"utime":1597608316000},{"currType":"ETH","txHash":"0x3cbae78cd78fbc7a466ffb3956f3f95928579f40f14fceda978a1c5d81d26a64","operator":"0x28595f15c04cf1f4ce978fc77a210dbc30e025bb","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10669947,"blockTime":1597565022,"epoch":8,"supply":"14681935211341898592","ctime":1597565057000,"utime":1597565057000},{"currType":"ETH","txHash":"0xabe13f7f9a27370c07f1eb711af4b37442df4d4bf0234febefcc5a4c79d043ec","operator":"0x1a40ca0774518d8f7f41df7da070a4aae08184f1","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10666650,"blockTime":1597521609,"epoch":7,"supply":"15356704803425008450","ctime":1597521640000,"utime":1597521640000},{"currType":"ETH","txHash":"0x4c64faeca69106807930badf7801b3db5ffbcbf3212d076bea2b7b1a048eb83b","operator":"0xfa91288b3033d095992cf3cb0b0e54b807c3c2ac","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10663458,"blockTime":1597478505,"epoch":6,"supply":"15985697655747854180","ctime":1597478529000,"utime":1597478529000},{"currType":"ETH","txHash":"0x613d23a0315b068ac183376fe786188c4c65972970f7d3cdb490eba95eae8549","operator":"0x1a40ca0774518d8f7f41df7da070a4aae08184f1","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10660193,"blockTime":1597435492,"epoch":5,"supply":"16411751552705509551","ctime":1597435529000,"utime":1597435529000},{"currType":"ETH","txHash":"0xae58745c11679894bdcbd5b977e864b669148f61b73009f72551c32a07ba9466","operator":"0x0ad59c344359fdf8472e7ffbf4eb6af4751138da","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10656976,"blockTime":1597392473,"epoch":4,"supply":"16980295531490104432","ctime":1597392496000,"utime":1597392496000},{"currType":"ETH","txHash":"0x527b8a970a53bd46d99d758aa16ff9c2218513b46647a7cfbff72f8a22f8aedc","operator":"0x0ad59c344359fdf8472e7ffbf4eb6af4751138da","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10653660,"blockTime":1597348824,"epoch":3,"supply":"17889705531675302598","ctime":1597348843000,"utime":1597348843000},{"currType":"ETH","txHash":"0x32735e9e9aac51739b5725a225be6c7a3851f422be986d0f4f4bc0ec475ee286","operator":"0xf6a9d3a7f89e5c8bdd18b334f051ad5ef850e48d","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10650411,"blockTime":1597305618,"epoch":2,"supply":"18780439270761214101","ctime":1597305646000,"utime":1597305646000},{"currType":"ETH","txHash":"0x7b9017ec92b0200455e5269380195fbecfbf91c8acda30985cc1dc413d215076","operator":"0x3bafc2b08b1c40b942afe602f46f730572d97690","token":"0x0e2298e3b3390e3b945a5456fbf59ecc3f55da16","blockNum":10647177,"blockTime":1597262408,"epoch":1,"supply":"9307350094489455602","ctime":1597296635000,"utime":1597296635000}],"status":0}


Aug 21, 2020
Share to: