BASIS FARMING - Everyone's doing it.
Why should you care and what is it?
Simply put: long position in the spot market while simultaneously opening a short position on perpetual decentralized exchanges.
This allows the protocol to capture funding fee premiums while maintaining market neutrality.
FREE MONEY.
Here's something that tells you about the 3 recent ones that you haven't heard about.
#1 - @BasisOS aka $BIOS
What is it:
It's a agent that has done quite well since launch.
@NumaPumpilius is the founder. It handles basis trading strategies on Hyperliquid to deliver best-in-class real yields and liquidity rewards, specifically targeting long-tail assets.
Why am I bullish on it:
- Virtuals eco
- website looks extremely clean (color scheme, animations)
- lots of ways to get your $BIOS tokens if you're a content creator
- @grafana dashboard live and showing what the strategies are
What to do:
Mention $BIOS in your tweets and cover it, and also deposit some USDC on Arbitrum to farm it.
Be aware there's about 1% fees on exiting and entering, so please be sure you're in this for the long haul, even if it is risky.
#2: @liminalmoney on Hyperliquid
What is it:
- Basis trade protocol native to HyperEVM.
- Currently closed beta, every 2500 deposited you get an invite. Max deposit per wallet is 25k.
- Currently at 800k TVL
- Can fund from both perps on HL and EVM and something else.
Why I am bullish on it:
Looks competent, UI is good, always good to be among the first in a protocol like this
What to do:
Beg for an invite if you can (not me, I don't have much stables to get 2500 usd in it lol), or just wait until they get out of beta, shouldn't be too long.
#3- @yieldbasis by @vasily_sumanov
What is it:
It's an alleged revolution of BTC yield with impermanent loss protection, deep liquidity pools, and a value-protecting $YB token.
LPs earn 9-60% APR, choose BTC yield or YB emissions, and benefit from governance and fee-sharing, enhancing DeFi efficiency.
What to do:
Notifications on, I guess, and follow them? IDK.
Not much going on right now.
Why I am bullish on it:
Curve Cofounder @newmichwill is one of the cofounders of it, it might be a banger, might also be a nothingburger.
But worth participating in I think.
Worth having eyes on most definitely.
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