Upbit, South Korea’s largest cryptocurrency exchange, has announced it will list the YB/BTC and YB/USDT trading pairs, bringing YieldBasis (YB) — a Bitcoin leveraged-liquidity protocol built on Curve Finance infrastructure — to one of Asia’s most active crypto markets. The move expands trading opportunities for Korean investors and reflects growing interest in innovative DeFi products.
Upbit Listing Details
According to recent reports, Upbit — widely regarded as one of South Korea’s most liquid and influential crypto trading platforms — plans to make YB/BTC and YB/USDT available for trading, allowing users to trade YB against both Bitcoin and USDT.
The announcement follows YieldBasis’s broader exchange rollout earlier in 2025, during which listing events and trading milestones helped boost YB’s visibility and trading volume across multiple platforms.
What Is YieldBasis (YB)?
YieldBasis is a decentralized finance (DeFi) protocol originally launched in early 2025 by Michael Egorov, the founder of Curve Finance. Unlike traditional automated market makers (AMMs), YieldBasis aims to address a common liquidity provider challenge: impermanent loss. The protocol’s yield infrastructure enables users to provide liquidity with minimal impermanent loss by creating leveraged, rebalanced positions that track underlying assets like Bitcoin closely.
In practice, users can deposit Bitcoin into YieldBasis’s liquidity pools and receive wrapped tokens that represent their share of a dynamically managed leveraged position. These positions are automatically adjusted to stay aligned with the target leverage rate — typically 2× — and avoid the performance drag traditionally associated with price divergence in AMM pools.
Curve DAO and Liquidity Support
YieldBasis’s integration with the Curve ecosystem has been pivotal to its early growth. The Curve DAO has approved credit facilities and liquidity support — including a $1 billion crvUSD credit line — to expand the protocol’s liquidity options. Such support helps facilitate deep markets for YB trading and yield products.
The presence of strong liquidity backing and institutional interest in YB markets has increased confidence among traders and institutions, contributing to its adoption and listing on major exchanges.
Market Impact and What Traders Should Know
The listing on Upbit is expected to broaden access for Korean traders, who often represent a substantial share of global crypto trading volume. Because Upbit supports trading pairs with both BTC and USDT, investors will be able to choose between base-currency strategies or USDT-denominated exposure when trading YB.
YB’s DeFi utility — particularly its no-impermanent-loss yield strategy — may attract traders seeking innovative yield products beyond traditional decentralized exchange offerings. However, the leveraged nature of YB positions means that risk profiles are distinct from typical spot tokens, and prospective traders should review protocol mechanics and risk frameworks carefully.
Broader DeFi Trends
The listing also highlights continued integration between DeFi protocols and centralized exchanges (CEXs). Tokens like YB that offer unique mechanisms — such as leveraged liquidity and automated balance adjustments — are increasingly finding pathways to mainstream markets through listings on high-profile exchanges like Upbit, Binance, and others.
This trend underscores a broader maturation of the crypto space where DeFi innovations are no longer siloed on decentralized platforms alone but are entering centralized trading ecosystems that bring greater access and liquidity.
O9PHLF8P