Question 1

What is Yield Basis (YB)?

Accepted Answer

Yield Basis (YB) is the protocol’s native token and is commonly referred to as its governance token. In practice, governance is exercised via veYB (vote-escrowed YB): holders lock YB for a chosen duration to obtain veYB, which carries voting power and access to protocol fee share. YieldBasis pairs deposited BTC with borrowed crvUSD to maintain a constant 2× leveraged BTC/crvUSD position on Curve at ~50% debt-to-value. This construction targets linear BTC exposure (mitigating classic AMM impermanent loss) while allowing the position to earn trading fees; a rebalancing AMM and VirtualPool enable arbitrageurs to restore the 2× target atomically.

Question 2

What is Yield Basis (YB) used for?

Accepted Answer

**Governance via veYB:** Lock YB → receive veYB to vote on emission gauges and protocol proposals; voting power decays with time-to-unlock.

**Fee share:** Trading fees from underlying pools are split by a dynamic admin-fee curve between unstaked ybBTC holders and veYB holders. Unstaked ybBTC accrues BTC-denominated fees; staked ybBTC foregoes fees.

**Incentives:** veYB voting directs YB emissions across markets (gauges). Users may stake ybBTC to earn YB emissions (token yield) instead of BTC fees (trading yield). Emission intensity follows a schedule tied to remaining incentives and the staking rate, creating diminishing returns as staking rises.

**Adaptive choice:** When many LPs stake ybBTC, per-token fee yield for the remaining unstaked rises (fewer tokens share the pool) while per-token YB emissions dilute, and vice-versa.

Question 3

Who created Yield Basis (YB)?

Accepted Answer

YieldBasis is attributed to Michael Egorov, founder of Curve Finance. Public reporting links him to the project’s launch and early funding; official resources focus on mechanism and integration while governance is implemented through the YB → veYB model.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	YB-USDT YBUSDT	binance	AA	0.08840USDT	0.00%	1,026,440.00YB	3,206	0.08840USDT	0.08950USDT
2	YB-USD YBUSD	kraken	AA	0.08840USD	0.27%	273,258.36YB	87	0.08816USD	0.08961USD
3	YB-USDT YB-USDT	okex	A	0.08846USDT	0.06%	260,542.84YB	433	0.08841USDT	0.08950USDT
4	YB-TRY YBTRY	binance	AA	4.35TRY	0.23%	187,744.00YB	159	4.34TRY	4.39TRY
5	YB-USDT YBUSDT	bybit	A	0.08867USDT	0.44%	75,700.85YB	82	0.08828USDT	0.08934USDT
6	YB-USDT YB_USDT	gateio	A	0.08833USDT	0.14%	56,797.00YB	207	0.08821USDT	0.08934USDT
7	YB-USDT YBUSDT_SPBL	bitget	BB	0.08870USDT	0.45%	53,739.61YB	80	0.08830USDT	0.08940USDT
8	YB-USDT YB-USDT	kucoin	BB	0.08790USDT	-0.57%	14,039.92YB	29	0.08840USDT	0.08900USDT
9	YB-USD YB-USD	coinbase	AA	0.08810USD	0.00%	13,589.63YB	14	0.08810USD	0.08910USD
10	YB-EUR YBEUR	kraken	AA	0.07883EUR	0.78%	4,518.15YB	3	0.07822EUR	0.07940EUR
11	YB-USDC YBUSDC	binance	AA	0.08770USDC	-0.11%	2,606.80YB	8	0.08780USDC	0.08900USDC
12	YB-EUR YB-EUR	okex	A	0.07611EUR	0.00%	0YB	0	0.07611EUR	0.07611EUR
13	YB-USD YB-USD	okex	A	0.08809USD	0.00%	0YB	0	0.08809USD	0.08809USD
14	YB-USDC YB-USDC	okex	A	0.08824USDC	2.28%	11.00YB	1	0.08627USDC	0.08824USDC
15	YB-USDT YBUSDT	toobit	C	0.08840USDT	0.00%	847,755.40YB	6,022	0.08840USDT	0.08950USDT
16	YB-USDT YB_USDT	bitunix	C	0.08830USDT	-0.11%	797,286.50YB	6,043	0.08840USDT	0.08940USDT
17	YB-USDT YBUSDT	mexc	C	0.08835USDT	-0.19%	617,109.35YB	3,020	0.08852USDT	0.08949USDT
18	YB-USDC YBUSDC	mexc	C	0.08841USDC	0.06%	614,626.86YB	3,012	0.08836USDC	0.08960USDC
19	YB-USDT YB_USDT	bydfi	-	0.08835USDT	-0.19%	576,464.97YB	3,202	0.08852USDT	0.08949USDT
20	YB-USDT YB-USDT	bigone	-	0.08830USDT	0.11%	546,309.60YB	4,674	0.08820USDT	0.08980USDT
21	YB-USDT YBUSDT	bitrue	D	0.08840USDT	-0.11%	478,926.50YB	4,761	0.08850USDT	0.08960USDT
22	YB-USDT YB-USDT	bingx	D	0.08830USDT	0.00%	325,834.35YB	4,358	0.08830USDT	0.08960USDT
23	YB-USDT yb_usdt	lbank	C	0.08830USDT	-0.23%	246,396.21YB	2,621	0.08850USDT	0.08960USDT
24	YB-KRW YB_KRW	bithumbkorea	-	120.00KRW	0.00%	294,514.25YB	88	120.00KRW	121.00KRW
25	YB-USDT YB_USDT	coinw	-	0.08839USDT	0.03%	203,946.03YB	1,419	0.08836USDT	0.08931USDT
26	YB-USDT yb_usdt	xtpub	-	0.08840USDT	0.00%	153,885.31YB	2,044	0.08840USDT	0.08950USDT
27	YB-THB THB_YB	bitkub	C	3.00THB	0.44%	75,700.85YB	82	2.98THB	3.02THB
28	YB-USDC YB_USDC	cryptology	D	0.08850USDC	-0.11%	48,542.70YB	977	0.08860USDC	0.08960USDC
29	YB-USDT YB_USDT	cryptology	D	0.08850USDT	-0.23%	46,208.70YB	949	0.08870USDT	0.08960USDT
30	YB-BTC BTC-YB	upbit	B	0.0₅1040BTC	-0.95%	43,486.34YB	40	0.0₅1050BTC	0.0₅1050BTC
31	YB-USDT yb_usdt	digifinex	D	0.08840USDT	-0.11%	31,670.26YB	2,186	0.08850USDT	0.08940USDT
32	YB-EUR YB-EUR	bitvavo	B	0.07845EUR	-0.04%	22,466.29YB	11	0.07847EUR	0.07926EUR
33	YB-KRW YB_KRW	coinone	C	117.20KRW	0.00%	0YB	0	117.20KRW	117.20KRW
34	YB-USDT YBUSDT	hitbtc	E	0.09488USDT	0.00%	0YB	0	0.09488USDT	0.09488USDT
35	YB-USDT USDT-YB	upbit	B	0.09499USDT	1.10%	351.22YB	7	0.09396USDT	0.09499USDT
36	YB-USDT YBUSDT	coinex	C	0.08328USDT	0.00%	0YB	0	0.08328USDT	0.08328USDT