Gate.io Has Gone Through the Initial YAM Rebase and Might Resume YAM Trading/Deposits/Withdrawals Soon

Announcements Gate.io Has Gone Through the Initial YAM Rebase and Might Resume YAM Trading/Deposits/Withdrawals Soon

2020-08-13 07:08:22 UTC 58737 Read

Gate.io has called on its users to vote for the YAM bug-fix proposal. Currently, the proposal has been approved preliminarily, and the vote will be ongoing for three more days before an ultimate decision is made. Learn more details via https://yam.finance/ (wallet binding is required) and https://twitter.com/YamFinance.

Gate.io has conducted a rebase in accordance with the YAM smart contract. Spot balances of YAM holders have become 8.30735X larger than the previous balance before the rebase was completed. Gate.io will carry out a second rebase on 8:00 AM GMT, August 13th, 2020 according to Yam Finance’s guidance. If things go as expected, YAM trading will resume at 8:30 AM GMT, August 13th, 2020. Sell orders can be placed 10 minutes before the resumption. Since the initial rebase led to a sharp increase in balance, the YAM price has dropped accordingly. To protect our users from a loss, we have canceled all the buy orders. The buy price will be adjusted after the market opens.

Trade YAM at https://www.gate.io/trade/YAM_USDT
Deposit YAM at https://www.gate.io/myaccount/deposit/YAM

Please note that due to the unique elastic supply features of YAM, users' YAM balances will be expanded or decreased every 12 hours (8:00 AM GMT, 8:00 PM GMT) based on the market conditions; additionally, 10% of each supply expansion is used to buy yCRV (a high-yield USD-denominated stablecoin) and add it to the Yam treasury. Based on the YAM smart contract eventlog, Gate.io will rebase (update) the user's YAM balances during 7:30 AM GMT to 8:30 AM GMT and 7:30 PM GMT to 8:30 PM during which the trading will be paused and the deposit amount will be updated.

Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with 100% guaranteed and instant deposit-withdrawal services.
Get 30% of all referees' trading fees in the affiliate program at https://www.gate.io/myaccount/myreferrals

Click to Sign up ：https://www.gate.io/m#/register
Download it now at: https://www.gate.io/mobileapp
Scan and download at:

Gate.io New Features:
Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
Download Gate.io APP:https://www.gate.io/mobileapp
Download Wallet.io (ALL in ONE):https://www.wallet.io/

Follow us and get updated at (Follow as to win bonus)
Facebook: https://facebook.com/gateioglobal
Twitter: https://twitter.com/gate_io
Telegram：https://t.me/gate_zh
Instagram：https://www.instagram.com/gateioglobal
Medium：https://medium.com/@gateio

Gate.io
Aug. 13, 2020

Select language and region

Fiat Currencies