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Garbage Crypto Product Dies Immediately After Launch

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What happens when you mix esoteric financial instruments with poor coding practices? You get decentralized finance (DeFi), a new buzzword popular with crypto fans who see it as a way to invest in new startups or put money to work by lending out dormant crypto to eager customers.

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The latest in DeFi hilarity comes to us in the form of the YAM token, a cryptocurrency that was originally designed to do nothing and be completely valueless.

What that means in practice is pretty funny. The YAM, announced in a Medium post by founder Brock Elmore, was supposed to be a “minimally viable monetary experiment,” parroting the concept of the minimal viable product in the startup world. The MVP is a product that works—but barely—and is used to test product-market fit. In this case, however, there was no product-market fit.

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“After deployment, it is entirely dependent upon YAM holders to determine its value and future development,” he said. This means Elmore expected the YAM owners—or investors—to come up with projects to fund using the platform.

Elmore posted the first mention of YAM on Medium on August 11. The token went on sale, and savvy crypto investors drove up the price to almost $180 on August 12, giving the project an instant $460 million market cap.

A few hours after its all-time high, the project heads posted a dire warning: “SAVE YAM! 🍠” They said that the developers accidentally injected a bug into the system that “minted” too many starchy cryptocoins, resulting in a glut that would not allow anyone—not the creators and not the YAM “investors”—to control the platform. They wrote:

If governance is unable to submit a bug-fix proposal prior to the second rebase, no further governance actions will be possible as so many YAM will be held in the reserve that it will be impossible for any proposals to reach quorum. If this happens, the YAM treasury will become ungovernable and these funds will be lost.

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By August 13 the entire market cap fell to near zero as the single exchange that supported these YAMs stopped selling them. The exchange, Gate.io, has since reinstated the YAM but it’s not looking good for YAMsters.

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The YAM is currently trading at around $1 with many users trying to drop their bags of YAMs on the open market. For his part, Elmore followed the advice of Kenny Rogers and decided to fold.

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The cryptocurrency world reacted with amusement.

“What a truly wild ride. From absolute glory and everyone getting rich to train wreck all in less than 48 hours. It was a crazy experiment, and demonstrates the importance of competent coders,” wrote one Reddit user. Others saw the hand of greed in the YAM’s downfall.

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“It got huge fast off of Defi nerd FOMO and then died when they found a bug in the unaudited, complex smart contract which couldn’t be fixed,” said Adam Levine, host of LetsTalkBitcoin. He likens the excitement to 2017 when crypto projects were launching (and failing) almost as fast as this noble tuber did.

Source : Gizmodo Read More

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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