Dear Biboxers,
According to YAM smart contract mechanism, YAM will go through Rebase twice a day. The account balance will be subject to the market value and each balance update will allocate 10% of the token and convert them into stable coins, which will be held by the project team eventually. The estimated Rebase time is 4:00 (GMT+8) and 16:00 (GMT+8) every day.
To cooperate with this mechanism, Bibox will cancel all pending orders and suspend YAM trading, withdrawal, and deposit from 3:50-4:50 and 15:50-16:50 (GMT+8). For the latest update on YAM Rebase, please follow Bibox official announcements.
Related Information:
YAM is an elastic supply cryptocurrency, which expands and contracts supply in response to market conditions, initially targeting 1 USD per 1 YAM.
"Rebase" is YAM's smart contract mechanism, which adjusts each account's balance according to the YAM market price. When YAM price is higher than the target price (≈1USD), all account balance will be increased proportionately and vice versa.
Risk Warning：
Cryptocurrency investments are risky. Please make investments wisely according to your own risk tolerance.
Thank you for your support to Bibox.
8/13/2020
Official website：https://www.bibox.com/
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