Yield Basis Nears Mainnet Launch as Curve DAO Votes on crvUSD Proposal
Zug, Switzerland, September 23rd, 2025, FinanceWire
Michael Egorov, founder of Curve Finance, a decentralised protocol powering a premier DeFi venue for stablecoin exchange and an ecosystem of DeFi products, submitted a new proposal to the Curve DAO. This proposal is focused on utilizing crvUSD — Curve’s native stablecoin — for Yield Basis protocol operations.
Yield Basis is Michael Egorov's new project, built on top of Curve’s technology and aimed at greatly expanding its ecosystem by supporting volatile asset pools while mitigating Impermanent Loss (IL) — one of the greatest long-standing problems of decentralized liquidity pools.
For years, earning meaningful returns on Bitcoin in DeFi seemed nearly impossible, with most valuable opportunities capped at ~1–2% yield. Bitcoin itself doesn’t have any option for generating yield, AMM pools are too risky from the IL perspective, and market rates on lending markets barely exceed 0.1%.
Yield Basis aims to change that with a brand new AMM implementation, eliminating the Impermanent Loss problem by design and offering Bitcoin yield generation with a greatly improved risk/reward profile for DeFi users, institutional investors, and professional market participants.
Egorov’s proposal is focused on the utilization of Curve’s native stablecoin system to power the operations of Yield Basis pools, with an initially approved 60 million crvUSD credit line. The decision ultimately rests on a vote of Curve’s veCRV holders community.
The credit line would support the operation of three Bitcoin-focused pools (WBTC, cbBTC, and tBTC) launched on top of Curve and using the Yield Basis technology for IL mitigation. Each pool would initially be capped at $10 million, laying the foundation for a new BTC yield primitive on the Ethereum mainnet.
For the Curve community, the proposal from Yield Basis presents several significant benefits:
- It positively impacts the fee streams for veCRV holders due to increased crvUSD trading activity on Curve.
- It increases adoption for crvUSD, simultaneously creating a natural supply sink and driving organic issuance motivated by higher yields for liquidity providers in crvUSD pools.
- It attributes Curve DAO with 7.5% of the Yield Basis total token supply as a technology licensing fee, giving the DAO additional resources to use at its discretion.
By participating in this vote, veCRV holders get to decide on Curve’s ecosystem expansion, enriching veCRV fee flow, and increasing crvUSD adoption. One of the main points of the proposal is that the launch of Yield Basis positively impacts CRV value and Curve DAO’s revenue in both short- and long-term perspectives. It is a synergetic process that benefits both projects and the broader DeFi community.
Commenting on the initiative, Egorov emphasized that this is just the beginning for Yield Basis, but an important step for both long-awaited Bitcoin yield opportunities in Ethereum DeFi and Curve’s ecosystem expansion.
The full proposal is available on the Curve DAO governance forum, and the voting process is already open — it will run until September 24th. The community is encouraged to dive in, review, discuss, and give their voices.
About Yield Basis
Yield Basis (YB) is a decentralized protocol designed to offer DeFi users, institutional investors, and professional market participants sustainable and transparent yield on Bitcoin, create a deep on-chain Bitcoin liquidity by eliminating one of DeFi’s biggest challenges — impermanent loss in automated market makers (AMMs).
About Curve Finance
Curve Finance is a decentralised protocol powering DeFi stablecoin and crypto markets by enabling high-yield on-chain savings, protected borrowing, and low-slippage swaps. Launched in 2020, it supports a rich DeFi ecosystem, from autocompounding votes to primary markets for asset issuers or yield trading. It is considered to be a key infrastructure layer for Ethereum and other EVM networks.
Contact
Curve Financepress@curve.finance
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