Michael Egorov, founder of Curve, is launching Yield Basis, a protocol designed to address impermanent loss in liquidity provision and cater to Bitcoin holders seeking returns. By leveraging liquidity and maintaining a consistent leverage ratio, Yield Basis aims to create LP positions that mimic spot BTC exposure without the adverse effects of price volatility. The protocol will introduce a $YB token following a model similar to Curve, with options for locking it to participate in governance and yield capture. Importantly, Yield Basis will operate independently but will allocate 10% of its token distribution to Curve, with its architecture heavily featuring Curve's stablecoin, crvUSD. Yield Basis has raised $5 million and plans its initial launch on the Ethereum mainnet, prioritizing safety and code readiness before going live.

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