Yield Basis Aims to Become DeFi’s Leading Bitcoin Liquidity Protocol
Michael Egorov, founder of Curve, has launched a new protocol called Yield Basis aimed at users interested in earning from Bitcoin. Key features include:
- Elimination of LP impermanent loss through leveraged liquidity.
- Automatic re-leveraging to maintain a 2x liquidity ratio.
- Opportunity for LPs to earn real BTC yield or receive emissions of the native token $YB.
- $YB tokens can be locked into veYB to direct emissions and capture BTC yield.
- 10% of the fully diluted YB distribution will benefit Curve.
- Yield Basis raised $5 million in February and plans to launch on Ethereum mainnet once code safety is confirmed.
Egorov emphasizes that Yield Basis will differentiate itself from other protocols by automating capital preservation through arbitrage and precise liquidity management.