Yield Basis Enables Fee Switch, Allocates ~17 BTC to Token Holders with Four-Week Claim Window
Yield Basis, a protocol founded by Curve Finance’s Michael Egorov, activated its fee switch after a unanimous on-chain vote by token holders. The change redirects protocol revenue to token holders. Since the protocol’s September launch, more than 17 BTC has accrued to the fee pool — roughly $1.6 million based on recent prices — and eligible users have a four-week window to claim their share. The activation signals a governance-driven monetisation step for Yield Basis and underscores wallet-level incentives for protocol participation. Key facts: protocol founder Michael Egorov; unanimous token-holder vote; ~17 BTC allocated; four-week claim period; launch in September. Primary keywords: Yield Basis, fee switch, token holders, BTC allocation. Secondary/semantic keywords: protocol revenue, on-chain vote, governance, claim window.
Neutral
The news is neutral for markets. Enabling a fee switch that directs protocol revenue to token holders is a positive governance and monetisation milestone for Yield Basis, improving on-chain incentives and potentially increasing demand for the protocol’s token. The ~17 BTC allocation (≈$1.6M) is notable but small relative to the broader Bitcoin market, so direct price impact on BTC should be limited. Short-term effects may include modest buying interest in Yield Basis token as investors price in expected revenue flows and claims activity, and increased on-chain activity during the four-week claim window. Long-term, consistent revenue-sharing can strengthen token utility and retention, which can be bullish for the project token if sustained. Comparable past events (projects enabling fee switches or dividends) have tended to support token fundamentals without materially moving large-cap markets, unless the pooled amounts are substantial. Risks include claim centralization, technical or UX issues in claiming, or sell-side pressure if recipients liquidate their allocations quickly. Overall, trader attention should focus on token-specific liquidity and on-chain flows rather than expecting meaningful BTC market moves.