yieldbasis launches today at 10am utc and i'm so excited i was waiting for a way to lock my btc for a non-subsidized yield and protect them from impermanent loss ironically, the protocol has already been tested for the biggest crash in absolute terms in crypto history, and it worked fine the difference between subsidized and not subsidized is that the former is decided by people who have a direct control over emissions, while the latter is based on market conditions this means that when the bear market comes (bc it will come, not later than 2026, if not in 1-2 months) and token incentives dry out, there's still going to be a decent amount of traders who make coin prices swing up and down, and that will generate a lot of trading fees i suspect that yieldbasis depositors will have two major behaviors: - aggressive: choosing YB emissions during bull market to try and trade YB at the top & choosing trading fees during bear market or withdrawing altogether - conservative: choosing trading fees during bull market to minimize risk of volatility (locking in more btc) and choose YB emissions during bear market, to accumulate more in time for the next bull ofc the more i think about it, the more these two approaches can be also viewed as their opposite, bc i would want to accumulate more YB emission during bear market (conservative) to trade more at the top when the bull starts (aggressive), but i had to pick two extremes to make it simple it's going to be exciting next i'm waiting for it to be available on avalanche, since there's a lot of BTC.b there waiting to be put to even better use