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.
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.
Cryptocurrency investments are risky. Please make investments wisely according to your own risk tolerance.
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