Yield Basis is a DeFi protocol founded by Curve Finance creator Michael Egorov that enables BTC and ETH holders to earn boosted yields in AMM pools without impermanent loss through leveraged crvUSD positions and hybrid vaults. The live mainnet protocol has scaled to over $180M TVL since its October 2025 launch.
The native $YB token serves as the governance and utility asset, allowing holders to vote on protocol upgrades, gauge emissions, and share in revenue once the fee switch is activated.
Yield Basis conducted its Kraken Launchpad ICO in October 2025, raising $2,500,000 by selling 12.5 million $YB tokens (1.25% of total supply) at a fixed price of $0.20, corresponding to a $200 million fully diluted valuation. This public first-come, first-served sale marked Kraken Launch’s debut project in partnership with Legion.