Legion has teamed up with Kraken to introduce its new sales platform. Their debut project? @yieldbasis. If there's one thing I've learned, it's that platforms ensure their inaugural sale is a success. On October 1st, they will launch their token sale on @legiondotcc, and this is the first sale on Legion’s new platform. The project behind it is special. Because @newmichwill, an extraordinary individual who is the founder of @CurveFinance, is the one launching @yieldbasis. Curve is one of the most important projects in DeFi, and YieldBasis is coming from the same team. That alone should make people pay attention. So what’s YieldBasis solving? The biggest concern for LPs in DeFi: impermanent loss. YieldBasis is developing a new AMM model to eliminate IL. You don't need to deposit two assets; you just add BTC. Behind the scenes, the protocol borrows an equal amount of crvUSD, provides liquidity to the pair, and locks the position as collateral. The result is a 200% overcollateralized system that auto-rebalances with price. For LPs, it feels like single-sided exposure, without the IL risk. And yes, this isn’t a random experiment. Yesterday, YieldBasis cleared a Curve DAO vote. Considering it comes from the Curve founder himself, integration with Curve infra feels obvious. The sale is set for October 1st. The total supply is 1 billion tokens, with 87.9 million in circulation at the time of the TGE. There are 25 million tokens available for sale, and all will be unlocked at the TGE. The sale's FDV is $200 million, with a target to raise $5 million. Therefore, each token will be priced at $0.20. In this FCFS sale, the minimum and maximum cap is set at $0 and $10k, respectively. The TGE is expected to occur in October. Since this is an FCFS sale, it might be a bit competitive, and I'll be trying to participate myself. That's all for now.
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