🚀 Kraken x Legion Launching New Project: Yield Basis (@yieldbasis) Kraken is launching its first "on-chain" project under a compliant framework (MiCA + Reg S), in collaboration with Legion to introduce Yield Basis (YB) — a BTCFi protocol initiated by Curve founder Michael Egorov! 1️⃣ Highlights Addressing the inefficiency of BTC in DeFi Innovative AMM + 2x leverage to hedge IL, allowing positions to linearly track BTC while also earning transaction fees BTC is expected to replicate the ETH Staking narrative 2️⃣ Issuance Details Fundraising of 5 million, valuation of 200 million TGE fully unlocked 9/29 at 10 PM: Legion presale (1 million) 10/1 at 10 PM: Public sale (4 million, Kraken + Legion, first come first served) 3️⃣ Participation Method Legion 👉 (Requires passport + address proof, link wallet/Twitter to increase score) Kraken 👉 ⚡ Recommendation: Grab the Legion presale first, as the Kraken public sale is likely to sell out quickly. ✅ Summary: Kraken's first new...
The first-ever Kraken x Legion token sale goes live Wednesday, October 1st.
@yieldbasis is built by Curve founder Michael Egorov (@newmichwill), and is tackling DeFi’s toughest problem: impermanent loss.
This could potentially unlock billions in idle BTC by generating sustainable, real yield 🧵
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