Today in DeFi - Return of the YAM, The Curvening, Aave V2

Return of the YAM

Yam Finance @YamFinance

medium.comYAM Migration PlanHere are some additional details on our plan to migrate YAM to a new system, as first proposed in our previous post.

Everyone’s favorite controversial root vegetable seems to be making a comeback. In its latest Medium Post, Yam Finance detailed its plans to move on from its tragic first version.

It will occur in two phases. The first phase, YAMv2, will be a migration. First generation YAM holders will be able to burn their YAMs to mint second generation YAMs. These YAMv2s will not rebase.

Then, the complete YAM system will be audited and redeployed as YAMv3. YAMv2 holders will be able to migrate to the updated YAMv3 token via an additional contract.

All of this was pending community support and funding for audits, which quickly occurred:

Yam Finance @YamFinance

We have exceeded our goal of $75k in the span of one hour. Thank you ❤️ Any excess funds above what is required for the audits will be placed under control of YAM governance with the intent to be used for any future audits that may be deemed advisable by tokenholders.

Yam Finance @YamFinance

We have set up a @gitcoin grant for those would who like to help fund an audit of the YAM codebase. https://t.co/MysUrBIY5E

Looks like the YAM saga isn’t over yet!

The Curvening

As we explained yesterday, Curve’s launch didn’t exactly go as smoothly as hoped. However, it was still generally a huge success. Curve TVL rocketed from a low of 212M on August 13th to now 792M.

This had an interesting side-effect of also pumping up Aave’s TVL as well. Since Aave allows for collateralized loans against a wide variety of tokens, it’s one of the favorite tools of Yield Farmers.

This Curvening effect has flipped the DeFi Pulse scoreboard, shooting Curve and Aave up, while Compound, and Synthetix have gone down in the ranks.

Aave V2

Aave @AaveAave

1/ Today we are excited to introduce the Aave Protocol v2, the new Money Market Protocol ready to push DeFi even further ! 👀👀👀 medium.com/aave/aave-v2-t…

medium.comAave V2, The Seamless FinanceAfter months of work, it’s time for Aave to leave phase 1 and announce a new version of the Aave Protocol. As expected, Aave V2 will…

Aave Announced V2. This update has a long list of features, but here are some that stand out to me:

• Repay with Collateral: Deleverage with just collateral in one transaction.

• Debt Tokenization and Native Credit Delegation

• Fixed Rate Deposit: Predictable income for LPs

• Private Markets: Will integrate with RealT

• Native Trading: can trade Debt, or Collateral. Also margin trading.

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