Curve Founder Michael Egorov Introduces On-Chain Bitcoin Yield Platform

Yield Basis Launch

  • Michael Egorov, founder of Curve Finance, has launched Yield Basis, a decentralized platform for generating Bitcoin yield on-chain.
  • The platform uses an updated automated market maker model to eliminate impermanent loss for liquidity providers in DeFi.

Platform Architecture and Governance

  • Pairs Bitcoin with stable assets in pools that automatically rebalance to maintain stable returns.
  • Employs a veToken governance model, enhancing voting power for users who lock tokens longer.

Funding and Target Audience

  • Initial seed capital raised; targets professional and institutional users.
  • Focuses on providing predictable Bitcoin yield through non-custodial, on-chain systems.

Market Context

  • Launch indicates growing interest in Bitcoin-native DeFi solutions beyond Ethereum.
  • Aims to make Bitcoin a productive asset in decentralized markets, enhancing on-chain liquidity and yield generation.