Curve Finance Introduces "Yield Basis" Plan, Proposing to Allocate $60 Million to Transform CRV into Yield-Generating Asset

BlockBeats News, September 17th, Curve Finance founder Michael Egorov proposed a new "Yield Basis" plan today, planning to issue a $60 million crvUSD stablecoin to support the operation of three Bitcoin trading pools. The plan will return up to 65% of the revenue to veCRV holders and allocate 25% of the "Yield Basis" tokens to the Curve ecosystem.

At the time of this proposal, Michael Egorov is facing scrutiny due to multiple CRV liquidation events, including a massive $140 million loss in June and an $882,000 loss in December.