Yam Synths is built with ❤ by Yam🍠 . Visit Yam's Discord for more information.
Yam is a collaborative community innovating at the intersection of decentralized governance and programmable finance. We are a fair-launch DAO pushing the bounds of innovation and launching experiments to enable the very promise of what DeFi can become for the world: a global, permissionless financial ecosystem. We have partnered with UMA to push the bounds of synthetic derivatives on Ethereum to bring you Yam Synths
UMA builds open-source infrastructure for “priceless” financial contracts on Ethereum. Specifically, this is two things:
- Priceless financial contract designs, which can be used to create synthetic tokens.
- Data Verification Mechanism (DVM), a decentralized oracle service.
Together, these two technologies enable the creation of fast, efficient, and secure synthetic derivatives on the Ethereum blockchain. Currently, UMA’s financial contracts have over $50M in TVL with 6+ teams building synthetic derivative products on UMA’s financial infrastructure.