🧵 Stable ($28M): Early L1 with activities we don’t skip
- What’s Stable?
Stable is a Layer-1 blockchain where transaction fees are paid in USDT.
- Backed by $28M in Funding from from Mirana, PayPal, Hack, and others.
Basically the main idea is Instead of trying to cover impermanent loss with token incentives like most DeFi platforms, YieldBasis removes impermanent loss altogether and leaves you with pure BTC exposure plus yield.
That's a Wrap!
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YieldBasis in a nutshell🐚
- It is a way to earn fees on your BTC while keeping full exposure to BTC’s price without the impermanent loss you normally get in liquidity pools.
Why it matters?....
5. Because of this setup, your position mirrors BTC one to one while also earning pool fees.
What can you do with ybBTC?
Hold it and passively earn BTC denominated trading fee
Lock YB tokens to gain governance rights plus a share of protocol revenues...