What you need to know about @yieldbasis:
YB's returns are fundamentally derived from BTC volatility—as long as BTC prices fluctuate, trading volume and fees are generated, providing a stable source of returns.
This is independent of the scale of the strategy. Whether YB manages $100 million or $1 billion, as long as it isn't large enough to manipulate BTC prices, the return logic remains unchanged.
In other words, unless YB grows large enough to take over BTC's pricing power, its returns remain firmly anchored to the natural volatility of the BTC market.
