Two OGs, two new DeFi primitives @CurveFinance's founder @newmichwill is shipping @yieldbasis (a no-IL BTC AMM liquidity platform); while @yearnfi’s founder and god of DeFi @AndreCronjeTech is building @flyingtulip_ (unified AMM+CLOB exchange). Different bets on the same problem - make on-chain liquidity actually work: • Yield Basis ($YB): A Curve-native AMM that removes impermanent loss (IL) for BTC LPs by holding constant 2x leverage in a BTC-crvUSD (LP tracks BTC 1:1 while earning fees). You mint ybBTC (yield-bearing BTC) • Flying Tulip ($FT): A unified on-chain exchange (spot + lending + perps + options + structured yield) built on a volatility-aware hybrid AMM + CLOB, slippage-aware lending, and ftUSD (a delta-neutral USD-equivalent) as the incentive flywheel - - - - - Yield Basis • Classic AMMs make BTC LPs sell into strength (when price goes up) or buy into weakness (√p exposure), causing IL that often is more than the fees earned while LPing • Saving a longer post for...
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