Global crypto exchange Kraken has officially unveiled its new token sale platform, Kraken Launch, with the first project being the highly anticipated Yield Basis (YB) token sale.
We’re partnering with @Legiondotcc to launch Kraken Launch, a new platform for exclusive token sales.
Fair access. Clear disclosures. Backed by Kraken’s 14 years of trust.
First sale coming soon ⤵️ https://t.co/xSD1QnncfN
but wait, there’s more ? pic.twitter.com/cy5KxmMikF
— Kraken (@krakenfx) September 18, 2025
Kraken Launch: Fair and Compliant Token Sales
According to Kraken, Kraken Launch is designed to provide users with early access to exclusive token sales in a fair, transparent, and fully compliant environment. The first offering, Yield Basis (YB), was created by Michael Egorov, founder of leading DeFi protocol Curve Finance.
Yield Basis is a Bitcoin-native yield protocol that leverages a fee-driven structure while integrating an auto-releveraging system to offset automated market maker (AMM) curvature risks.
YB Token Sale Structure and Eligibility
The YB token sale will be held in partnership with Legion, an evaluation-based platform. The process will unfold in two stages:
Stage 1: Up to 20% of tokens allocated to users meeting Legion’s score requirements.
Stage 2: Remaining tokens available on a first-come, first-served basis across Kraken and Legion.
Legion’s scoring system evaluates on-chain activity, social media presence, and GitHub contributions, prioritizing developers and power users.
Kraken provides global reach and a regulatory framework aligned with laws like the EU’s MiCA, making this collaboration a significant test case for next-generation token distribution models.
YB’s Tokenomics and Curve DAO Support
YB’s tokenomics are unique. Liquidity providers must choose between:
Receiving fees in Bitcoin, or
Forgoing fees to earn YB token emissions.
Both cannot be claimed simultaneously.
YB also received approval from Curve DAO for a credit line in crvUSD, linking its growth to Curve’s stablecoin ecosystem and signaling strong community backing.
The total YB supply is capped at 1 billion, with 300 million set for initial circulation. Allocations will go toward liquidity incentives, team funding, and ecosystem reserves.
A New Era for Bitcoin Yield in DeFi
The launch comes amid rising demand for on-chain liquidity and Bitcoin yield strategies. By offering a structured and potentially more stable return for liquidity providers, YB aims to attract both retail and institutional investors.
Kraken’s move could set the stage for a new wave of token sales that prioritize compliance, fairness, and community alignment, marking a milestone in the evolution of DeFi.
