[PoS Round-Up] YAM Implodes, Prysm Bug Crashes Medalla Testnet

PoS Round-Up is our focused biweekly report on the major news in and around the Proof of Stake ecosystem

[PoS Round-Up] YAM Implodes, Prysm Bug Crashes Medalla Testnet

PoS Round-Up is our focused biweekly report on the major news in and around the Proof of Stake ecosystem


Prysm Bug

Ethereum 2.0 client Prysm fell victim to a major bug last week when a problem with clock synchronization resulted in a large percentage of Medalla validators proposing invalid attestations and blocks from the future.

See Preston Van Loon’s Twitter thread for a quick overview of what happened.

Yam Finance

After locking in $585 million in assets just days after launching, DeFi project Yam Finance suffered a fatal bug that broke its on-chain governance system. The event highlights the fact that DeFi is still in its experimental infancy, and any new project release should be approached with extreme caution.

The team behind the YAM project is already drawing up plans for YAM 2.0.

Warning on yam.finance

Bits & Pieces

  • Ethereum researcher Danny Ryan gave an interview covering some of his thoughts on Ethereum 2.0.
  • Somer Esat has written a comprehensive guide to running an Ethereum 2.0 validator on the Medalla testnet.


Denomination Day

Denomination Day is coming!

D Day is a milestone because it represents the first action taken as a result of a community vote under the Polkadot governance protocol. Read the official blog post for more information.

Source: https://twitter.com/Polkadot/status/1292930255053901833


On August 6, the Polkadot team launched the Rococo parachain testnet, enabling developers to test and experiment with sending inter-parachain messages.

Source: https://polkadot.network/introducing-rococo-polkadots-parachain-testnet/


The SKALE token launch was scheduled to happen yesterday, August 17, as the first token launch to take place on ConsenSys’ Codefi Activate platform. In a move aimed at dampening overspeculation, buyers would have been required to delegate at least half of their SKL tokens for 90 days before being able to transfer them.

Due to the high amount of site traffic, the SKALE and ConsenSys teams have decided to delay the token sale. The new date for the token sale has yet to be announced.


The official Elrond wallet is slated to be released today, according to CEO and Founder Beniamin Mincu, enabling transfers of the scalability- and interoperability-focused network’s native eGLD token.

Elrond has also announced a partnership with xDAI Stable Chain to develop a bridge to enable token transfers between the Elrond network and Ethereum and other Ethereum-compatible blockchains.


Dedicated eth2 Page

We’ve launched an Ethereum 2.0 portal on our website! Use it to learn more about eth2, estimate your potential staking rewards using our calculator tool, and sign up for updates.


Our Cardano page is up and running! Learn more about Cardano and how to delegate to us here.


EDCON2020 wrapped up last week. Our Strategy & Operations lead JK gave a talk on what you need to know as an ETH holder to get ready for Ethereum 2.0. Watch the recording below or take a look at the slides for a quick summary.

PoS Glossary

For those just beginning to explore the world of Proof of Stake, we’ll be Tweeting a new definition each week to help you build your knowledge. We started last week with Proof of Stake.

Ecosystem Lists

We updated our Chainlink list of projects based on your feedback and posted Part 1 of our new Ethereum ecosystem project list, focused on gaming projects.

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