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# YAM Protocol | ||
## The Protocol | ||
YAM protocol is a cryptocurrency built on the Ethereum blockchain. It is designed to be create a soft price peg against any reserve asset by leveraging an elastic monetary supply to reward holders and a protocol governed treasury. | ||
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The token inflates and deflates its monetary supply in order to stabilze its peg (called a rebase). It is innovative by adding a treasury building mechanism into the rebase. | ||
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## The Token | ||
The core YAM token uses yCRV as the reserve currency, which is roughly a $1 peg. Each inflating rebase, a portion of tokens is minted and used to build up the treasury. This treasury is then in complete ownership of $YAM holders via governance. | ||
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## Distribution | ||
It is undergoing a fair distribution - no premine, no VCs, no founders' shares. It is designed to be decentralized and autonomous. | ||
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Distribution is accomplished by utilizing the same method that YFI popularized. You can stake ETH, YFI, or AMPL/ETH uniswap shares to earn YAMs. | ||
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## Governance | ||
Governance is entirely dictated by YAM holders from the start. Upon deployment, ownership of all YAM protocol contracts was reliquished to the Governance contract or removed entirely. | ||
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# Development | ||
### Building | ||
This repo uses truffle. Ensure that you have truffle installed. | ||
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Then, to build the contracts run: | ||
``` | ||
$ truffle compile | ||
``` | ||
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To run tests: | ||
``` | ||
$ truffle test | ||
``` | ||
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Given the nature of rebases interacting with Uniswap, it may be helpful to run a fork of mainnet in ganache. | ||
``` | ||
$ ganache-cli --fork <eth_rpc_url>@latest --networkId 1001 --gasPrice 0x1312D00 -e 100000000000000000000 --gasLimit 8000000 --mnemonic="concert load couple harbor equip island argue ramp clarify fence smart topic" --max-old-space-size=8192 | ||
``` |