Decentralized finance (DeFi) protocol Yam Finance is relaunching on September 18.
Yam Finance V2, a fork of Compound (COMP) featuring a native token with an elastic supply, burst onto the DeFi scene last month — garnering more than half a billion in assets from yield farmers within 24 hours of launching.
However, the unaudited V2 of Yam Finance came to a dramatic conclusion when a catastrophic bug caused excessive reserves to be minted which rendered it impossible for governance to be executed.
The relaunch follows a period of interim governance during which community consensus was found regarding “all key issues for V3’s launch”, with the community voting to change Yam’s reserve asset to yUSD, extend the voting period to two days, and adjust the thresholds for proposals and quorum.
Most importantly for the confidence of potential investors, an audit was completed by blockchain security firm PeckShield.
The audit found “several issues related to either security or performance” that could