Kraken has announced the launch of Yield Basis (YB), a Bitcoin yield protocol developed by Curve founder Michael Egorov, on its new platform, Kraken Launch. The protocol will be sold in two phases and is set to be listed on Kraken's trading platform. Yield Basis has received support from the Curve DAO, which approved a proposal for a crvUSD credit line. The protocol aims to offer native BTC, fee-driven yields and incorporates an automatic re-leveraging mechanism to hedge against AMM curvature risk.