what's yield basis?
Yield Basis is a DeFi protocol designed to generate yield on Bitcoin and its wrapped variants through innovative liquidity pools. It integrates with Curve Finance to launch pools for assets like cbBTC, WBTC, and tBTC, emphasizing real usage and organic growth over artificial incentives. The project recently achieved $30M in TVL within minutes of launch, highlighting strong community interest and momentum. Yield Basis rewards early participants with allocations to pre-sales instead of airdrops, promoting skin in the game, reducing sybil attacks, and aligning with regulatory changes. It features governance participation and roadmap milestones, including expansion to Base once key developments are unlocked. The protocol aims to deliver true yield in DeFi by focusing on sustainable, high-quality liquidity provision.
Yield basis launched WETH-crvUSD pool, the first IL-free ETH AMM, now live.
Added WETH-crvUSD pool, described as the first IL-free ETH AMM, which is now live.
Platform crosses $200M in total BTC deposits with cbBTC vault becoming fully filled.
The sdYB/YB liquidity pool launches on Curve Finance with CRV rewards beginning to stream, and LP tokens can be staked on Stake DAO for boosted rewards.
Analytics pages go live on the website.
Token sale through Legion launchpad (Kraken partnership) achieves 100x oversubscription with demand exceeding the original target by 100 times, with refund cycles frustrating high-score users.
Following cbBTC pool rebalancing, ybBTC is up 2.05% in 12 days.
Each BTC vault fills $50M including tBTC within an hour, with tBTC becoming the preferred collateral for market-neutral positions.
New contracts generate $39K-$71K in daily fees (Nov 13-16) for an annualized $15.5M rate, with fee switch to activate imminently and TVL capacity expanding from $150M to $500M.
Yield Basis deposits $41K in voting incentives on Votemarket for Curve Finance gauges this round, ranking 5th among all participating projects out of $650K total deposits across top gauges.
The protocol generates millions in trading volume alongside @doublezero with active whale participation.
crvUSD diversifies its backing to include Yield Basis alongside ResupifyFi with potential to scale up, prompting a governance proposal to add Emergency DAO multisig support for crvUSD and LlamaLend safety mechanisms.
The protocol gears up for a $500M TVL cap increase with automatic fee split mechanisms (50% for pool rebalancing, rest to veYB holders and LPs), and a $1B allocation is under DAO review contingent on crvUSD peg stability and TVL exceeding $500M. Current metrics show BTC vaults at capacity with $2M in accumulated fees, 80%+ of ybBTC LP tokens staked yielding 25% APR, and $188K generated in early LP/DAO fees.
The ICO proved highly profitable for eligible participants following the Binance listing and TGE.
Two governance proposals are live on Snapshot for voting, including SDGP-60 which proposes allocating up to 500K SDT to launch the $sdYB Liquid Locker.
The protocol plans to support ETH pools after successfully launching and testing wrapped Bitcoin pools in various market conditions including extreme volatility.
The project completed the first Binance Prime Sale with a day 1 spot listing on Binance and TGE occurring 2 days after the sale concluded.
$CRV inflation incentives go live in 2 days targeting USDC, USDT, and frxUSD with crvusd pools. Stake DAO Staking V2 deposits open Thursday morning with OnlyBoost integration for boosted yields.
The sale on Legion was oversubscribed to $300M.
AMA scheduled for October 23, 2025 at 13:00 UTC features the team with four other projects discussing growth strategies and alpha journey insights.
The project offers double digit BTC yield.
The project launched via MetaDAOProject platform at a small fully diluted market cap, with @RamXBT credited for the launch execution.
Badges for users will be distributed soon.
A pool ranks in top ten for volume on Curve, with the crvUSD pool at number two position.
Analysis thread published by @in_pangea covers rebalancing risks for the project.
The project trades at a $411M fully diluted valuation.
The project achieves immediate product-market fit following its recent launch.
Curve gauge vote active for YB/crvUSD liquidity pool.
Partnership with LayerZero Core announced.
Binance announces a HODLer Airdrop program for the project.
sdCRV stakers on the LiquidBoost platform are eligible for the airdrop.
Token goes live on both BNB (Binance Alpha) and Ethereum (Curve liquidity) chains at 10am UTC. 5.625M tokens distributed to 4055 Season 1 LPs and 5M tokens to Curve DAO voters.
Team member mattyTokenomics confirms Binance's pre-TGE sale at 50% discount to Legion's price breached their agreement with the project.
Protocol raises market caps to $50MM for WBTC, cbBTC and tBTC markets which fill within minutes, bringing total TVL to $150MM with $120M in new deposits occurring in less than an hour.
Token distribution occurs at 10am UTC on October 15th, followed by spot trading opening at 11am UTC on Kraken and Binance exchanges; tokens from Legion's sale will be automatically airdropped to deposit wallets without requiring claims.
Binance sale requires minimum 144 points for participation and operates without a take away/clawback system, with the sale period concluding.
TGE scheduled for October 15th; Prime Sale on Binance Web3 Wallet massively oversubscribed with $277M BNB committed against $2.5M target, sale price $0.10 vs premarket price ~$1.1.
Public sale opens on Binance Wallet on October 13 at 08:00 UTC, followed by TGE on October 15.
Protocol mechanics successfully withstood a historic BTC crash that exceeded simulation parameters, demonstrating resilience beyond expectations while liquidity pools remain operational and gathering data during the stress test.
Day 1 Binance futures listing secured, with premarket price reaching $1.50 (up 50% from previous $1 valuation) and nearly $3M trading volume on whalesmarket.
Gate Futures opens pre-market perpetual futures trading for $YB/USDT pair with up to 10x leverage available.
Binance Wallet introduces Pre-TGE Prime Sale Edition, representing a new partnership and distribution mechanism for the upcoming token generation event.
Pre-market valuation reaches $1B FDV ($1 per token), showing 5x gains for accepted participants with potential trading range projected between $1B-$8B FDV.
Featured in Messari's October monthly report covering the crowdsale, representing significant institutional research coverage and validation.
Users are receiving their token sale allocations through the legion.cc platform, marking progression from application processing to allocation distribution.
Over $150M committed in pre-deposits for the token sale within 24 hours, achieving 75x oversubscription against the $2M target.
Governance proposal submitted to Curve Finance requesting increased crvUSD allocation based on 2 weeks of successful production operation.
Total protocol cap exceeds $31M (originally $30M in BTC at deployment) as Bitcoin reaches new all-time high.
Bribes and fees mechanism launching soon, representing a new revenue generation system for the protocol and Curve Finance.
Merit sale applications begin processing successfully with mandatory additional verification added for investments exceeding 1,000 EUR, while premarket trading shows current price range of $0.8-$0.9.
Pool limits are increased to $10M per pool.
Secondary market trading on Whales Market shows the token at $0.92, representing a 4.6x gain from the $0.2 presale price, with approximately $1M in trading volume.
The token sale experiences platform outages on Legion and Kraken with reports of widespread allocation rejections and refund claim issues.
The Kraken exchange listing goes live October 1 at 14:00 UTC, providing specific launch timing for the token.
Deposits go live allowing BTC holders to LP into Curve with 2x leverage, while merit sale commitments surge to $150M against only $2M allocation with applications closing in 5 hours.
The presale is valued at a $200M fully diluted valuation, with Kraken listing confirmed to follow Phase 2 of the token sale.
The presale achieves 107x oversubscription according to participant reports. Team members are conducting meetings in Singapore during the sale period.
$87 million in USDC is committed for the upcoming sale, representing record-breaking demand compared to previous Legion crowdsales.
Curve Finance pools show increased trading activity with organic volume from DEX aggregators and arbitrage trading.
The presale launches with a two-phase structure: merit-based phase (40% allocation, $25K cap) on Sep 29 2pm UTC, followed by FCFS phase (60% allocation, $10K cap) on Oct 1 2pm UTC with potential gas wars on Ethereum mainnet.
The token features 100% unlock at TGE with no vesting schedule. The presale represents the first partnership collaboration between Legion and Kraken platforms.
Kraken Launch event is scheduled for October 1st featuring the project with promotional content from crypto industry figures including @mattyTokenomics, @newmichwill and @DMBrumField.
Michael Ergov, founder of Curve, is revealed as the builder of the protocol. The presale features a maximum investment limit of 10k USDC per participant.
The presale is currently active with KYC requirements, featuring guaranteed allocation for Legion scores above 350 and FCFS for scores below 350, with a 200M FDV. Deposit caps are increasing soon.
Governance controversy emerges with allegations that insiders with undisclosed private investments voted on a Curve proposal, with claims of backroom deals and airdrop incentives for "yes" votes, damaging trust within the CRV community. A separate proposal is being developed for Curve governance to pre-mint crvUSD to the protocol, potentially providing access to substantial liquidity.
The protocol adopts an Aero-style LP incentivization model where unstaked tokens receive fees and staked tokens receive emissions, with vote-escrowed tokens implemented as NFTs.
tBTC goes live offering 146% trading APY, marking the highest yield currently available on the platform.
Platform deposits are now live, enabling users to earn yield on BTC.
Investment announcement made with commitment to permanently lock tokens and steward protocol governance, distributing yield to WenLlama holders in scrvusd.
The project serves as the inaugural launch for the Legion x Kraken partnership.
The project will be featured in a presentation at Korea Blockchain Week alongside other DeFi projects, marking a second public appearance opportunity in Korea beyond the previously announced BTCON Seoul conference.
A $60M crvUSD credit line proposal is actively being voted on by Curve Finance holders to create three BTC pools (wBTC, cbBTC, tBTC) with $10M caps each, with Curve DAO receiving 7.5% of $YB supply plus ongoing trading fees. The voting period ends in 6 days.
Community member makes four specific transparency demands including disclosure of seed round participants and allocations, detailed hack recovery plans, and clarification of the 10% licensing fee claim from a Block interview. The critic highlights concerns about economic risks beyond technical audits and lack of recovery mechanisms for potential exploits.
Protocol completes 6 audits with a 7th ongoing and implements emergency stop mechanism controlled by Curve Emergency DAO multisig.
The CRV proposal faces criticism for insufficient seed round transparency and alleged undisclosed conflicts of interest.
Team member announces first public appearance at BTCON Seoul conference in Korea next week, marking the project's initial public outreach efforts.
tBTC integration added to initial Bitcoin pools.
LlamaRisk proposes three-phase rollout model to balance rapid scaling with risk management requirements.
High upgradability risk identified due to unbacked minting capabilities, resulting in Stage 0 classification by DeFi Scan.
Proposal suggests preminting 60M crvUSD for three Bitcoin pools, projecting 35-65% value capture from veYB holder fees.
New proposal outlines 60M crvUSD pre-mint allocation across three BTC pools, with 20% of YB inflation controlled by CurveDAO and additional incentives for stablecoin liquidity pools.
Curve governance considers preminting crvUSD allocation proposal before protocol deployment.
Code is now publicly released, marking new development milestone.
Protocol passes security audit, marking key pre-launch milestone.
Protocol implements exclusive isolated crvUSD vault separate from public borrowers, indicating privileged access structure.
Official documentation revealed ahead of anticipated mainnet launch.
New AMM implements 2x leverage system using crvUSD with dynamic yield distribution between BTC yields and YB emissions, featuring Curve Finance integration and automated rebalancing mechanism.
New yield-bearing products for BTC and XAUT being developed with beta ~1 correlation.
Mainnet launch approaching.
Whitepaper released, marking first major technical documentation milestone.
Curve founder launches protocol that separates yield from principal to create new DeFi stability layer.
Curve founder is actively working on a new stealth project described as a 'DeFi BTC blackhole'.
New AMM solving impermanent loss being built by newmichwill.