Yam Finance
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Yam Finance

Yam Treasury Quarterly Report — Q1 2021

We’re happy to share our quarterly update for the Yam Treasury where we review our Yam DAO income, expenses, assets, and team contributor changes.

Treasury

Preface: Cryptocurrency is very volatile, all numbers reported here in this report is a snapshot of value on 4/10/2021. All assets will move up and down in value, most expenses are determined in US Dollar equivalent at the time of payment. For example if a payment of $1000 USD is payed in $YAM and at that time $YAM is valued at $1, the payment will be 1000 $YAM.

Total Income $1,681,302

Operational Income

In Q1 2021 Yam.Finance generated operational income of $350,390 from Degenerative.Finance. Income from UMA’s dAPP interface rewards, from two synthetics, uGAS and uSTONKS.

Degenerative.Finance at the end of Q1 is developing an V2 of the website along with additional synthetics in addition to uGas and uSTONKS.

Investment Income

The Yam Treasury is used to invest in different value add products that assist Yam in growing its ecosystem.

  1. UMA was earned by using the treasury to provide liquidity using ETH and yUSD to Degenerative.finance synethics uGAS and uSTONKS.
  2. SUSHI was earned by using Yam farming pool’s YAM/ETH pair to farm on sushi’s rewards pool.
  3. INDEX was earned by pairing DPI and ETH in the treasury to farm Indexcoop’s rewards pool.

A total of $1,681,302 (as of date 4/10/2021) was earned in investment income in Q1 2021.

Total Expenses $781,040

Delta of Income vs Expenses +$900,261

Expenses (yUSD)

Total contributor expenses paid from the treasury was $135,675 in yUSD. Contributor expenses paid from the treasury are reserved for full-time contributors. Other contributor expenses come from the $YAM contributor vesting pool.

Expenses (YAM)

Total expenses paid form the contributor vesting pool was $645,365 in $YAM valued at $3.55 /$YAM as of 4/10/2021. $YAM was paid out of contributor vesting pool thru Q1 at different values but this report was prepared with a snapshot of value as of 4/10/2021.

Total general expenses paid from multi-sig general expense fund was $34,811 in $YAM valued at $3.55 /$YAM.

Treasury

Total Non-YAM Asset Value $7,296,607

Non-Yam Assets are primarily used for investment purposes to support the Yam ecosystem and projects.

Total YAM Asset Value $5,743,639

Yam Assets are primarily used for contributor compensation and general expenses.

Part Time

  • Jeremy has joined to the position of newsletter author / moderator as part time contributor.
  • KW710 has changed roles and responsibilities and will transition from the part time strategist role to a community facilitator role.
  • Jason has joined as a part time front end developer, primarily focused on Yam.Finance’s websites
  • Blokku has joined as head of website design for all Yam.Finance’s websites

Full Time

  • Ross has moved into a full time position taking on various responsibilities but will be specializing into long term Yam project strategies.
  • Designer has moved into a full time position responsible for brand, vision, marketing and communication strategy.
  • Byterose has joined as software engineer for YAM, will mainly work as a web developer.
  • TheVDM1 has joined full time as a financial product expert and will be helping to develop DAO House products and UMA synethics.
  • Indigo has joined full time full stack developer for Degenerative.finance V2 website.

This is an exciting time at Yam Protocol and our Treasury. We advise that you keep up with these updates as we push towards with a new wave of Yam Products in Quarter 2, 2021. Be sure to follow us on Medium or Twitter for news. Also, please join our discord and participate!

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