YAMv1 to YAMv2 Migration Complete — Upcoming Governance
At 4:20PM UTC 8/22 the migration from YAMv1 to YAMv2 closed, resulting in a final V2 supply of 3.726MM.
The purpose of the V2 migration is to allow for a stasis period in which key governance decisions can be made while the full Yam protocol is audited. To facilitate this governance process, a governance forum for off-chain voting using signatures from token holders will be launched on Monday, 8/24. This is similar to Balancer’s current governance process.
Following the launch of this portal, community members will be able to submit proposals for voting. It should be kept in mind that the number and complexity of proposals could have a material impact on the timeline to V3 launch.
When voting on proposals, we will retain V1’s quorum requirement of 4% for proposal approval, though the requirement to submit a proposal will be lowered, due to the lack of delegation in V2.
Please stay tuned for further updates.