Legion x Kraken debuts as a new player: YieldBasis Attention, family: This is an activity that must be participated in in the near future—— Kraken recently partnered with Legion @ legiondotcc to launch the first token issuance project: Yield Basis (YB), a Bitcoin revenue protocol launched by Curve founder Michael Egorov This is Kraken's first attempt to do "on chain innovation" under the compliance framework (MiCA+Reg S). The first Launch is also a new experiment with extraordinary significance, and the expected revenue will not be poor! one ️⃣ Background of Legion Platform—— Perhaps Legion is not yet popular in the Chinese speaking region and many people are not aware of it, but I have actually been following it for a long time: Legion itself was incubated by Delphi Labs and follows a fundraising strategy based on reputation ratings, The goal is to open up early investment opportunities to more community users, rather than just flowing to VCs. The mechanism is more fair and user-friendly, which is suitable for beginners! Legion has previously received investments from institutions such as Delphi Ventures, Cyber Fund, Alliance DAO, etc, At present, all projects that have launched Legion have made profits, without any losses! two ️⃣ The Legion x Kraken debut project YieldBasis—— The initiator of the initial project YieldBasis @ YieldBasis is Michael Egorov @ newmichvill, the founder of Curve What he wants to solve is an old problem: Bitcoin is almost not effectively utilized in DeFi. The design of YieldBasis is to use a 2x leverage structure on the Curve pool to offset IL pairs, allowing positions to linearly track BTC while earning transaction fees. The core logic is to transform volatility from risk to return. From the results, this is a new attempt at BTC narrative: If established, BTC will no longer be just a 'static store of value', but a collateral asset that can generate real returns; The narrative of "secure returns" opened by ETH staking may be replicated on BTC. Mainly the first project created by the founder of Curve, it couldn't have failed to become popular, after all, it's all about saving face, haha! three ️⃣ The collaboration between Kraken and Legion lies in compliance and allocation mechanisms—— Kraken's addition means that this is an attempt under the MiCA+Reg S compliance framework, and for CEX, it can also be considered as exploring a new model of "on chain innovation". These two collaborations are just icing on the cake: Kraken is responsible for regulation and global issuance; Legion uses a reputation system to determine allocation, preventing early opportunities from being completely monopolized by large funds. This public offering itself has symbolic significance: This is Kraken x Legion's first update and Egorov's new experiment after Curve! four ️⃣ Issuance Details—— 1) The total amount is 5 million US dollars; 2) Valuation of 200 million US dollars; 4）Unlock: 100% at TGE； 5) Pre sale on September 29th (1M to Legion reputation users); 6) We will resume public sales on October 1st (4M, first come, first served). entrance: https://legion.cc/projects/yieldbasis Everyone, register for Legion and Kraken's KYC and get started! Legion registration: https://legion.cc?homie=PMKHD4N8 Need to prepare: X account; Passport; Alipay electricity bill or other bills; Kraken registration: The passport is amazing, but the ID card is not very smooth. I won't go into detail here!