Michael Egorov, founder of Curve Finance, has introduced a new project called Yield Basis, designed to tackle the perishable loss in decentralized finances.
According to The blockWho has obtained a pitch -deck, has successfully collected the project $ 5 million in financing with a $ 50 million token rating. The supply basis is intended to offer a solution for Tokenized Bitcoin and Ether holders, which means they are used to earn the yield from making market and at the same time reduce the risks related to perishable loss.
The financing round, which was surpassed by 15x, raised $ 5 million in just two weeks. The funds were collected at a rating of $ 50 million, in which 10% of the token stock (100 million YB -Tokens) was sold to investors. The tokens follow a six -month cliff, followed by two years of Linear fortress.
Egorov, who expressed his position on the Defi -Ecosystem, said Crypto.news last July: “I strongly disagree that innovation does not take place in Defi. It does it! The market just doesn’t recognize it enough […]”
Innovative approach to liquidity provision
Egorov confirmed To block the news of fundraising and the details of the project. He explained that the yield base is currently in the “test-in production” phase, with audits and tests underway. The full launch will take more time, but the platform is expected to reduce the perishable loss due to innovative changes to automated market makers.
The tokend distribution plan of the project allocates 30% of the total offer for community incentives, 25% for the team and the remaining parts for development reserves and collaborations. According to Egorov, the Curve technology -Licencies can be used to support liquidity pools, especially for CRVUSD, the Stablecoin of Curve financing.
Crypto.news had reported that Ton Foundation collaborated with Curve Finance to facilitate proceeds from proceeds from revenue token and to optimize Swapp processes before this launch.