Curve founder Michael Egorov is developing a new project, Yield Basis, and raising $5 million at a $50 million valuation. According to the financing information on January 11, 2025, the project sold 10% of its total supply of "YB" tokens to investors - that is, 100 million of the 1 billion tokens. The vesting plan for investors 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, allocated through liquidity mining. Other allocations include 25% for teams, 15% for development reserves, 10% for Curve technology licensing, and 10% for collaborations. Yield Basis is designed to help users of tokenized Bitcoin and Ethereum gain from market making by mitigating the loss of impermanence, a risk in decentralized finance (DeFi) where liquidity providers may end up holding assets worth less than they would have if they had held them outright, even if they earned transaction fees or token rewards.