【Curve founder is developing a new project Yield Basis, and has completed a $5 million financing】According to Jinse Finance, Curve founder Michael Egorov is developing a new project Yield Basis, and has raised $5 million at a valuation of $50 million. According to the financing information dated January 11, 2025, the project is selling 10% of its total supply of 'YB' tokens to investors—specifically, 100 million tokens out of a total of 1 billion tokens. The investor vesting plan includes a 6-month lock-up period, followed by a 2-year linear unlock. 30% of the total supply will be used for community incentives, distributed through liquidity mining. Other allocations include 25% for the team, 15% for development reserves, 10% for Curve technology licensing, and 10% for partnerships. Yield Basis aims to help users holding tokenized Bitcoin and Ethereum earn profits from market-making by mitigating impermanent loss. Impermanent loss is a risk in decentralized finance (DeFi) where liquidity providers, even if they earn transaction fees or token rewards, may find the value of their held assets still lower than if they had directly held those assets.