Two-day-old DeFi project YAM has seen its market cap evaporate in under an hour as a desperate last-minute attempt to fix a bug in the code ultimately failed. Data from price site CoinGecko shows the total value of YAM collapsed from roughly $60 million at 07:40 UTC to $0 by 08:15 – barely 35 minutes later. The price of YAM tokens, which peaked at roughly $167 at 17:30 UTC, had spiraled down to barely $14 at just before 08:00.

[https://www.google.com/amp/s/www.coindesk.com/yams-market-cap-falls-from-60m-to-zero-in-35-minutes%3famp=1](https://www.google.com/amp/s/www.coindesk.com/yams-market-cap-falls-from-60m-to-zero-in-35-minutes%3famp=1)

Yam market

You must use this protocol to stake your coins and farm the YAM tokens. You can not lose doing that. Buying the YAM's that have been farmed and is now sold on exchanges is a different story.

I participated in the YAM project and saw it go from nothing to $600 million dollar lockup. And then the entire episode collapsed the next day. It was truly unfortunate. Luckily, YAM is now returning with YAM 2.

Omg, that's hard, hope will back soon

Crypto exchange Gate io announced it will reinstate deposits, withdrawals for YAM, with trading set to resume at 14:30 UTC

Two-day-old DeFi project YAM has seen its market cap evaporate in under an hour as a desperate last-minute attempt to fix a bug in the code ultimately failed.