출처: Block Media
Curve Founder Michael Egorov Introduces 'Yield Basis' to Propel CRV USD Demand into Billions
Michael Egorov, the visionary behind Curve, has unveiled an ambitious new project called 'Yield Basis,' which he claims has the potential to exponentially increase demand for Curve's native stablecoin, CRV USD, propelling its utility into billions of dollars. During a discussion with prominent crypto journalist Laura Shin on the "Rollup TV" podcast on October 1, the conversation revolved around innovative advancements in decentralized finance (DeFi), the future of creator economies, and evolving market trends, including the possible approval of major altcoin spot ETFs.
Yield Basis: Revolutionizing DeFi with BTC-Based Yield and Impermanent Loss Mitigation
At its core, Yield Basis is designed to provide stable and predictable revenue by addressing impermanent loss—a common challenge in automated market makers (AMMs). Egorov detailed how this groundbreaking protocol enables traders to earn consistent income derived from transaction fees without being impacted by price volatility.
“A key feature of Yield Basis is that users can deposit Bitcoin (BTC) and earn sustainable, transaction fee-based returns, shielded from fluctuations in market prices,” Egorov explained during the session.
The Frenzied Launch of the YB Token
The introduction of the Yield Basis token (YB) has already sparked significant interest within the crypto community. The recent token sale, hosted on Kraken’s launchpad Legion, saw an overwhelming response, surpassing demand expectations by more than fiftyfold and selling out within just one second.
Key to the YB token's appeal is its innovative "yield selection" mechanism. This allows depositors to either receive rewards in the form of YB tokens or gain direct access to the real, fee-driven income generated by their assets. This dual-option structure discourages short-term "farm-and-dump" behavior often seen in DeFi farming and instead fosters a culture of sustained ecosystem participation and growth.
The Impact of Yield Basis on Curve and CRV USD Growth
Egorov emphasized the transformative potential of Yield Basis for Curve’s ecosystem, underscoring three core benefits:
1. Exponential Demand for CRV USD
Yield Basis incentivizes liquidity pools that pair Bitcoin with CRV USD, which directly increases the utility and demand for Curve’s stablecoin. With the current CRV USD supply at approximately $120 million, Egorov believes this initiative could scale its market presence to billions—or even hundreds of billions—in trading volume.
2. Strengthening Curve’s Flywheel Effect
Increased demand for CRV USD facilitates higher borrowing activity and boosts transaction fee revenues across the Curve protocol. This dynamic reinforces Curve’s overarching “flywheel effect,” creating compounding benefits for both users and liquidity providers.
3. Future Asset Expansion
Although the project initially focuses on Bitcoin, the team plans to expand liquidity pools to incorporate other major assets, including Ethereum (ETH). This multi-asset vision aims to attract broader participation in Yield Basis while diversifying Curve’s ecosystem.
Egorov clarified that the timeline for the Token Generation Event (TGE) remains fluid, as the team prioritizes extensive stability testing of the platform’s initial liquidity pools.
Laura Shin Explores Creator Tokens as the Future of Media Monetization
Pivoting to a different aspect of Web3 innovation, Laura Shin defended her recent venture into creator tokens as a bold attempt to discover new revenue paradigms for content creators. Shin, the host of the widely regarded crypto podcast “Unchained,” launched her creator token on the Solana-based Pump.fun platform in response to the fading viability of traditional media business models.
The Decline of Traditional Journalism
Reflecting on the bleak trajectory of media over the last few decades—exemplified by landmark events like the $1 sale of Newsweek—Shin argued that new solutions are essential. “I’m exploring whether Web3 technology can create a fairer system that rewards talented creators directly,” she noted.
Despite facing criticism for launching the token without clearly defining its utility, Shin hinted at potential future features, such as token-gated community chats and exclusive events. These tools, she explained, could foster deeper engagement between creators and their audiences while steering clear of dependence on advertising models. She also coined terms like "AudienceFi" and "AttentionFi" to capture this vision of fan-driven creator economies.
While Shin acknowledged past missteps, she emphasized her commitment to learning from constructive feedback and iterating on the concept in alignment with her audience’s needs.
Market Trends: Altcoin Spot ETFs and the Rise of Revenue-Driven Projects
The podcast also touched on key developments within the broader cryptocurrency landscape. Of particular interest was the sentiment coming out of Singapore’s recent “Token 2049” conference, where attendees expressed ongoing confidence in Bitcoin while remaining cautious about altcoins, especially at current price levels.
Potential Approval of Altcoin Spot ETFs
One of the most anticipated regulatory milestones discussed was the potential approval of altcoin spot ETFs in the United States. According to a pre-recorded interview with Canary Capital’s CEO, ETFs for cryptocurrencies like Litecoin (LTC), Dogecoin (DOGE), Ripple (XRP), and Cardano (ADA) could receive approval as early as October. Such developments could inject significant liquidity into the market, serving as critical catalysts for accelerated crypto adoption.
The Endurance of the "Revenue Meta" Narrative
In a market dominated by speculative token cycles, a growing segment of the crypto community is gravitating toward the "Revenue Meta" narrative, which prioritizes projects with tangible cash flow, sustainable profits, and real-world utility. Yield Basis epitomizes this shift, standing out as a prime example of a venture focused on delivering consistent value rather than riding speculative hype.
Pioneering a New Era for DeFi and Web3 Innovation
Projects like Yield Basis and experiments in creator tokens are pushing the boundaries of what’s possible in decentralized finance and digital content economies. By addressing fundamental challenges such as impermanent loss and unsustainable media models, these initiatives lay the foundation for a more robust and equitable Web3 ecosystem.
At the same time, regulatory milestones such as altcoin spot ETFs are poised to redefine the crypto market landscape, unlocking new levels of institutional participation and liquidity. As these trends converge, the decentralized economy appears to be on the brink of transformative growth, bringing groundbreaking opportunities for both DeFi participants and content creators alike.
