Yield Basis (YB) Gains Momentum With Upbit Listing
South Korea’s leading cryptocurrency exchange, Upbit, has officially announced the listing of Yield Basis (YB), boosting the altcoin’s price by over 17%. The announcement comes as a significant milestone for the DeFi ecosystem, showcasing the growing popularity of Yield Basis as a liquidity protocol. Trading for YB against BTC and USDT went live on December 26, sparking heightened interest among investors.
Details of the Upbit Listing
The trading pairs YB/BTC and YB/USDT officially launched at 15:00 Korean Standard Time (KST) on December 26. According to Upbit, transactions for YB will be processed on the Ethereum network, with deposits and withdrawals already supported. Users are urged to double-check network details and the contract address—0x01791F726B4103694969820be083196cC7c045fF—to ensure hassle-free transactions.
Security measures were also implemented to ensure stable market conditions during the launch. These include temporary trading restrictions such as limiting buy orders for the first five minutes and restricting sell orders priced more than 10% below the last closing price.
Rapid Growth in Total Value Locked (TVL)
Yield Basis is an innovative liquidity solution that allows users to provide Bitcoin as liquidity to automated market maker (AMM) pools while minimizing exposure to impermanent loss—a persistent challenge for liquidity providers. This unique mechanism has significantly contributed to its adoption, with its total value locked (TVL) climbing from just $30 million in October to over $200 million by the end of December, according to DeFiLlama.
The growing interest in Yield Basis coincides with the token’s expanding utility and integration into various DeFi platforms. This new Upbit listing is expected to drive further adoption by increasing accessibility to both Korean and global investors.
What This Means for the DeFi Landscape
The Upbit listing not only underscores growing institutional interest in Yield Basis but also highlights the increasing demand for innovative DeFi protocols. With competition intensifying in the decentralized finance space, YB’s unique capabilities like impermanent loss protection provide it with a competitive edge.
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Looking ahead, Yield Basis faces the challenge of maintaining its momentum in a competitive market filled with emerging and established DeFi protocols. As token unlocks and new competitors enter the fold, all eyes remain on whether YB’s innovative approach will solidify its stance as a pioneering solution for liquidity providers.
