Michael Egorov raises $5m for Yield Basis, a new DeFi liquidity solution

Michael Egorov, founder of Curve Finance, introduced a new project called yield, designed to combat impermanent losses in decentralized finance.

According to The blockWho obtained a pitch deck, the project managed to raise $ 5 million in funding to a $ 50 million token assessment. The yield base aims to offer a solution for bitcoin and token ether holders, helping them to gain market manufacturing performance while reducing the risks associated with impermanent loss.

The financing round, which was overwritten by 15x, raised $ 5 million in just two weeks. Funds were lifted to an evaluation of $ 50 million, with 10% of the token supply (100 million YB tokens) sold to investors. The tokens will follow a six -month cliff, followed by two years of the linear acquisition.

Egorov, expressing his position on the DEFI ecosystem, said Crypto.News last July: “I firmly disagree that innovation does not occur in Defi. This is the case! The market just does not recognize it enough […]””

Innovative approach to liquidity supply

Egoov confirmed In the block, the news of fundraising and the details of the project. He explained that the yield base is currently in the “production test” phase, with current audits and tests. Large-scale launch will take more time, but the platform should reduce impermanent losses thanks to innovative changes to automated market manufacturers.

The project tokens distribution plan allocates 30% of the total offer for community incentives, 25% for the team and the remaining parties for development reserves and collaborations. According to Egorov, the curve technology license can be used to support liquidity pools, in particular for the CRVUSD, the stablecoin of the curve finance.

Crypto.News had reported This Ton foundation has teamed up with Curve Finance to facilitate the exchange of portable tokens and optimize exchange processes before this launch.