About
Yield Basis is a DeFi protocol launched in 2025 by Curve Finance founder Michael Egorov that generates sustainable Bitcoin yield while eliminating impermanent loss. Users deposit BTC to mint a ybBTC receipt token; the protocol borrows crvUSD to pair the BTC in a Curve pool at 2x leverage, using the LP position as collateral. It leans on Curve infrastructure, uses crvUSD as a core stablecoin component, and rewards veYB lockers with protocol fees paid in crvUSD or wrapped BTC.
Stablecoins
Key products
Chains
- Founded
- 2025
- Stage
- Seed
- Funding
- $5M (2025); token debut via Legion/Kraken launchpad
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