Curve founder launches new project Yield Basis and completes $5 million in fundraising

Odaily Planet Daily News Curve Finance founder Michael Egorov launched a new project Yield Basis and raised $5 million at a token valuation of $50 million. The project aims to help tokenized Bitcoin and Ethereum holders earn income from market creation by mitigating impermanent losses. According to financing materials, the project sold 10% of its total supply of "YB" tokens to investors - that is, 100 million out of 1 billion tokens. The investor's vesting plan includes a 6-month lock-up period, followed by a 2-year linear unlock. (THeBlock)