Thank you for your analysis of @yieldbasis and related research.
I disagree with your results and statements regarding @yieldbasis pools
You claim the YB pool design amplifies IL, assuming leverage remains fixed as BTC price changes.
However, this study is predicated on the

If you've been following @yieldbasis, you'll want to read this post. I'm pretty sure there are some major things wrong with it that nobody has openly shared yet and could lead to losses if left ignored.
The tldr on what yield basis does is that it has BTC holders borrow an  x.com/vasily_sumanov…

Elijah

Twitter

Bitcoin's price briefly touched $60,000 last week. Under a diminishing returns model, this is no mere noise. The market is touching the weakest link in the entire four-year cycle and logarithmic growth framework.

With the gains at the top of the Bitcoin cycle already significantly compressed, a further historically deep correction would completely negate the allure of its classic cycles.

This is not a prediction; it's a mathematical law.

Cycle Top Gains are Compressing

Historical Bitcoin Cycle Tops:

· 2013: ~$1,242

· 2017: ~$19,700

· 2021: ~...

$55,000 will be the lifeline for Bitcoin.

The government has just issued Resolution No. 23/NQ-CP following the regular government meeting in January 2026, which emphasizes the requirement for proactive, flexible, and effective monetary policy management, with close coordination...

The Vietnamese government is pushing for the operation of a gold and cryptocurrency exchange by February 28, 2026.

The crypto market experienced a sharp drop this afternoon, with Ethereum falling below the $2,000 mark at 3 PM Taiwan time, according to Hyperliquid [...]
The article, titled "Machi Big Brother Suffers Huge Losses and Didn't Sleep All Night? Ethereum Falls Below 2000 Magnesium, Panic Arrives, Opens Long BlockTempo and Loses 120,000 Magnesium," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Machi Big Brother lost so much money he couldn't sleep all night? Ethereum fell below 2000, causing panic. He long positions in ETH and HYPE, then sold at a loss, losing all 120,000 in magnesium.