The experimental DeFi protocol Yam Finance topple due to a fatal error last week, however, despite that the total value locked (TVL) by the project is still $200 million. 

On August 18, the crypto analytical firm Messari <a href="https://messari.io/article/yam-farmers-are-betting-400-million-on-a-successful-v2?utm_source=messaricrypto&amp;utm_medium=yamthread&amp;utm_campaign=yamsreturn" target="_blank" rel="noopener">published</a> a report stating that currently Yam Finance is considered to be the 7th largest DeFi project in the market and this is because of its TVL. 

To find out the TVL of the DeFi protocol, the analytical site multiply protocol’s total number of tokens with their USD value. 
<h2>Yam Finance’s Trading Activity Increasing</h2>
According to Messari’s report, on August 13, when the experimental DeFi protocol deflated, its TVL doubled from $200 million to $400 million. 

It is to be noted that in the past 24-hours Yam Finance’s trading activity has increased on the DeFi platform. 

Messari in its report has mentioned that some of the people presume using funds to farm YAM would be valuable. 

To date, some of the Yam investors have not written off the DeFi protocol because soon the existing tokens would be transferred on a new smart contract. 

The crypto analytics firm has stated, 
<blockquote>“Whether or not YAM can actually become useful financial primitive remains to be seen. One thing is for certain: these kinds of token experiments are not going away.”</blockquote>
<h2>Peckshield To Operate Audit Of Migration Contract</h2>
On August 18, while notifying about the migration contract by Peckshield, Yam in its blog post mentioned that the blockchain security company would operate an audit of the migration contract. The company is hoping to complete this audit within two days.

The blockchain security company has specified that as soon as it completes the audit of the migration contract, then they could migrate the DeFi protocol in stages.

The blogpost published by YAM asserted that after the completion of the audit, YAM would release a report and then deploy the migration contract. The experimental DeFi protocol would use its website to migrate the tokens. 

As soon as the migration is deployed, the users would have to burn their V1 tokens to create new V2 tokens.
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Yam Finance Gets New Lease Of Life From Investors

Although, Yam Finance topple due to a fatal error, last week, the total value locked (TVL) by the project is still $200 million.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Yam Finance Gets New Lease Of Life From Investors

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