Yield Basis, a protocol created by Curve Finance founder Michael Egorov, has activated its fee switch, directing revenue to tokenholders. Users have four weeks to claim over 17 Bitcoin worth nearly $1.6 million. The proposal for the fee switch was unanimously approved by tokenholders. Protocols are under pressure to show token value beyond voting rights, with many implementing revenue-sharing mechanisms. Yield Basis aims to eliminate impermanent loss in decentralized exchanges like Curve by using leveraged trading strategies. Despite criticism, Egorov defends the need for fee distribution to attract users and maintain token value.

Read more at Yahoo Finance: Yield Basis activates fee switch after investors deposit $130m Bitcoin