Michael Egorov Introduces Yield Basis for Sustainable Bitcoin Yield
- Yield Basis aims to provide sustainable yields on Bitcoin while eliminating impermanent loss (IL).
- The protocol has launched three pools, each with a deposit cap of $1 million.
- Yield Basis secured $5 million in early funding and is the first project on the Legion and Kraken launchpad.
- Token holders can participate in governance by locking their YB tokens, earning fees in either Curve’s crvUSD stablecoin or wrapped Bitcoin.
- Egorov’s model ties token emissions to position yield, which he describes as “value-protecting.”
The launch of Yield Basis addresses the challenges faced by DeFi participants seeking better returns on Bitcoin, traditionally limited to low yields and high IL risks.
With a focus on sustainable yields and a unique governance model, Yield Basis represents a significant innovation in the DeFi space, especially with its initial funding of $5 million.(Source)
