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yesterday

Curve DAO Votes on $60 Million ‘Yield Basis’ Plan to Share Revenue With CRV Stakers

A weeklong vote will determine whether Curve shifts from airdrops to a revenue-sharing model for locked CRV holders.

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Overview

  • The proposal would mint $60 million in crvUSD to fund three bitcoin pools—WBTC, cbBTC, and tBTC—each initially capped at $10 million.
  • Between 35% and 65% of Yield Basis revenue would be distributed to veCRV stakers, with 25% of tokens reserved for the Curve ecosystem.
  • Voting runs on the Curve DAO governance forum from Sept. 17 to Sept. 24, with the plan pending approval.
  • Yield Basis is pitched to attract professional and institutional traders by offering transparent bitcoin yields while seeking to avoid impermanent-loss risks common to AMMs.
  • The initiative follows high-profile 2024 liquidations tied to founder Michael Egorov that left the protocol with about $10 million in bad debt.