Key Points
- Binance has announced a new project, Yield Basis (YB), on its HODLer Airdrops portal.
- YB, a DeFi project, aims to turn crypto into productive assets using original Automatic Market Making without impermanent loss (IL).
Binance has disclosed a new project, Yield Basis (YB), on its HODLer Airdrops platform. This is the second project announced on the portal on the same day and the 53rd project overall on the HODLer Airdrops platform.
The exchange stated that users who had subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products from October 9 to October 11 are eligible for this airdrop.
About Yield Basis (YB)
Yield Basis is a DeFi project that aims to transform cryptocurrency into productive assets. It uses original Automatic Market Making without impermanent loss (IL) through leverage.
While the project is currently focused on Bitcoin, it also supports other assets such as Ethereum (ETH), Solana (SOL), and BNB. The project has passed audits, deployed contracts, and launched pools according to its official website.
Yield Basis is a new protocol that allows organic, non-subsidized yield for wrapped BTC holders. It generates yield via liquidity provision in AMM pools without IL.
The project aims to expand across ETH, SOL, BNB, and bring the same no IL, high efficiency design to new asset classes. It also aims to reach staking providers, and institutional access, and see cross-chain deployments.
What is YB?
YB is a core part of Yield Basis economics. The token aligns with the protocol’s goal to become a “Bitcoin black hole for yield-generating liquidity.”
The total supply of YB is 700 million tokens, and the maximum supply is 1 billion tokens. Binance will allocate 1% of the maximum total token supply for YB HODLer Airdrops rewards, which translates to 10 million tokens.
YB is used for governance, voting rights, protocol revenue sharing, and liquidity mining incentives. On October 13, Binance announced that the first Binance Wallet Pre-TGE Prime Sale with YB had successfully concluded. The event raised approximately $600 million in BNB with over 212,000 participants.
Binance’s YB Listing Details
Binance revealed that it will list YB on October 15 and will open trading for several pairs. YB will be listed with the Seed Tag applied, signaling potential high volatility, and the token will be first listed on Binance Alpha, the platform created by the exchange to showcase early-stage projects that have potential to grow in Web3.
YB deposits are now open on Binance.
