【Curve founder is developing a new project Yield Basis, and has completed a $5 million financing】Golden Finance reports that Curve founder Michael Egorov is developing a new project Yield Basis, and raising $5 million at a valuation of $50 million. According to financing materials dated January 11, 2025, the project is selling 10% of its total supply of 'YB' tokens to investors—1 million tokens out of a total supply of 1 billion. 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 returns from market making by mitigating impermanent loss. Impermanent loss is a risk in decentralized finance (DeFi) where liquidity providers may ultimately hold assets worth less than if they had directly held the assets, even after earning trading fees or token rewards.