Yam

*** How much you would receive per YAM: ~ $0.25 ***

Yam is trading at a significant discount to its book value. This proposal would allow token holders who would like to exit to do so and allow long term holders to remain. The primary argument against doing so has been that it would hurt the projects future by draining the treasury to the point where development cannot continue. This is provably false for several reasons with the main being that well over 80% of the YAM supply is in wallets that do not move and can be seen as stagnant as well as not voting or delegating. This means that a very significant percentage of the treasury will remain to sustain years(at the current burn rate) of future development for those who decide to hodl.

This is an off chain proposal to gauge if an on chain proposal should be made in order to determine if the majority of active and voting yam holders would like to have the option to redeem their yam from the equivalent ratio of the treasury assets.

There are several simple and secure solutions for the implementation of this if chosen by the community. The most obvious and secure solution would be to utilize the exact same smart contract used by Louis to dissolve it’s treasury holdings: https://etherscan.io/address/0x889dfe07caa0baf3814ddcd1b933d208d9913b5e

Please signal you interest in being able to redeem YAM from treasury assets. I do believe it most practical to have this window open for the period of 1 week. After this time window, the assets would be transferred back to the yam treasury and redemptions closed.