Mars Finance reports that on December 6th, Yield Basis, a protocol developed by Curve Finance founder Michael Egorov, activated its fee switch on Thursday, becoming the latest crypto protocol to direct revenue to token holders. Some Yield Basis users have four weeks to claim over 17 bitcoins accumulated since the protocol's launch in September. These bitcoins were worth nearly $1.6 million on Friday. The proposal to activate the fee switch was unanimously approved by Yield Basis token holders on Wednesday.
Yield Basis has activated its fee switch, allowing select users to share in the 17 BTC revenue accumulated by the protocol since September.
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