On October 14, Binance revealed another project on its HODLer Airdrops portal – Yield Basis (YB). This is the second project on the portal announced by Binance today, and it’s the exchange’s 53rd project on HODLer Airdrops.
In its official announcement, the exchange revealed that users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products starting on October 9 at 00:00 (UTC) until October 11 at 23:59 (UTC) are eligible for this airdrop.
Binance created the HODLer Airdrops portal to retroactively reward users based on historical snapshots of their BNB holdings.
What is Yield Basis (YB)?
Yield Basis is a DeFi project that promises to turn crypto into productive assets using original Automatic Market Making without impermanent loss (IL) via the use of leverage.
Yield Basis is currently focused on Bitcoin, but it supports other assets as well, including Ethereum (ETH), Solana (SOL), and BNB.
On the official website, the project reveals that it passed audits, deployed contracts, and launched pools. The Curve DAO vote has been executed, and the Yield Basis DAO went live.
Key Features
Yield Basis is a new protocol that enables organic, non-subsidized yield for wrapped BTC holders. The project listed these important details:
- BTC generates yield via liquidity provision in AMM pools without IL.
- LPs maintain spot BTC exposure, similar to holding, but with an added benefit involving trading fees.
- Market volatilty brings yield, and higher volatilty means more fees for LPs.
- IL is mitigated using 2x leverage in BTC/crvUSD Curve v2 pools, making position value track BTC price linearly, and not as a square root.
Yield Basis claims that its pools have demonstrated better slippage compared to Uniswap, with only $30 million in TVL.
Long-Term Vision
The project aims to:
- Expand across ETH, SOL, BNB, and bring the same no IL, high efficiency design to new asset classes
- Mark CEX integrations, reach staking providers, and institutional access
- See cross-chain deployments
Overall, Yield Basis aims to become the core layer for sustainable, organic DeFi yield, trusted by institutions and crypto natives.
What is YB?
YB is a core part of Yield Basis economics. The token is aligned with the protocol’s goal to become a “Bitcoin black hole for yield-generating liquidity.”
Tokenomics
The total supply of YB is 700 million tokens, and the maximum supply is 1 billion tokens. The circulating YB supply will be 87.91 million tokens.
Binance will allocate 1% of the maximum total token supply for YB HODLer Airdrops rewards, meaning 10 million tokens.
Use Cases
YB is used for:
- Governance – YB tokens can be locked up to 4 years to create veYB (vote-escrowed YB) positions; veYB offers voting power for protocol governance.
- Voting Rights – veYB providers can propose parameter updates, feature additions, and new protocol upgrades; voting power decays linearly over the lock duration unless max-locked for four years.
- Protocol Revenue Sharing – veYB holders receive a portion of the protocol revenue via a dynamic admin fee mechanism: as more YB LPs get stacked, the admin fee will increase linearly, allocating more trading fees to veYB holders, creating new revenue sharing opportunities for long-term holders.
- Liquidity Mining Incentives – YB tokens are distributed as emissions to users who stake their YB LP tokens.
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.
YB TGE takes place tomorrow, October 15, and Binance will list YB.
Binance’s YB Listing Details
In the official announcement, Binance revealed that it will list YB on October 15 at 11:00 (UTC) and will open trading for the following pairs:
- YB/USDC
- YB/USDT
- YB/FDUSD
- YB/TRY
- YB/BNB
YB will be listed with the Seed Tag applied, signaling potential high volatilty, 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.
