Sign up to save your podcasts
Or
Share DeFi Returns Without Impermanent Loss with YieldBasis Co-Founder Michael Egorov
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
DeFi Returns Without Impermanent Loss with YieldBasis Co-Founder Michael Egorov
Subscribe to the BitcoinYield newsletter: https://www.bitcoinyield.com/#newsletter
In this episode of BitcoinYield, Jacob Brown sits down with Michael Egorov, co-founder of Curve and YieldBasis, to break down how YieldBasis turns BTC volatility into yield while preserving spot exposure.
The conversation covers why traditional AMMs create impermanent loss for Bitcoin holders, how YieldBasis uses constant leverage to offset that square-root value drag, and what changes in YieldBasis V3.
They also discuss CurveUSD loan mechanics, vault capacity caps, YB token emissions, real yield vaults, redemption-value deviations during volatility spikes, and Michael’s security-first view on DeFi front ends.
No yield discussed here should be treated as guaranteed. YieldBasis vault returns depend on market volatility, trading activity, token emissions, stablecoin mechanics, smart contracts, and protocol execution.
Timestamps:
00:00 - Introduction
01:05 - Volatility Yield with Spot Exposure
07:15 - Math behind Constant-Leverage AMMs
12:01 - Volatility-Dependent Deviations
14:35 - BTC-CurveUSD Loan Mechanics
21:13 - Fee Distribution and VEYB Lockers
32:07 - YieldBasis V3
34:28 - Supercomputer Modeling of Pool Parameters
40:32 - Vault Capacity Caps and CurveUSD Stability
42:56 - Hybrid Vaults for Capped Capacity
54:47 - DeFi Security and Front-End Risk
Disclaimer: This episode is for educational purposes only and is not financial, investment, tax, or legal advice. Bitcoin yield strategies involve smart contract, stablecoin, liquidity, market, governance, and principal-loss risk. Do your own due diligence before deploying capital.
View all episodes
By BitcoinYieldSubscribe to the BitcoinYield newsletter: https://www.bitcoinyield.com/#newsletter
In this episode of BitcoinYield, Jacob Brown sits down with Michael Egorov, co-founder of Curve and YieldBasis, to break down how YieldBasis turns BTC volatility into yield while preserving spot exposure.
The conversation covers why traditional AMMs create impermanent loss for Bitcoin holders, how YieldBasis uses constant leverage to offset that square-root value drag, and what changes in YieldBasis V3.
They also discuss CurveUSD loan mechanics, vault capacity caps, YB token emissions, real yield vaults, redemption-value deviations during volatility spikes, and Michael’s security-first view on DeFi front ends.
No yield discussed here should be treated as guaranteed. YieldBasis vault returns depend on market volatility, trading activity, token emissions, stablecoin mechanics, smart contracts, and protocol execution.
Timestamps:
00:00 - Introduction
01:05 - Volatility Yield with Spot Exposure
07:15 - Math behind Constant-Leverage AMMs
12:01 - Volatility-Dependent Deviations
14:35 - BTC-CurveUSD Loan Mechanics
21:13 - Fee Distribution and VEYB Lockers
32:07 - YieldBasis V3
34:28 - Supercomputer Modeling of Pool Parameters
40:32 - Vault Capacity Caps and CurveUSD Stability
42:56 - Hybrid Vaults for Capped Capacity
54:47 - DeFi Security and Front-End Risk
Disclaimer: This episode is for educational purposes only and is not financial, investment, tax, or legal advice. Bitcoin yield strategies involve smart contract, stablecoin, liquidity, market, governance, and principal-loss risk. Do your own due diligence before deploying capital.