YieldBasis (YB)

.@yieldbasis in numbers: 9.1% of total $YB supply is locked, but that’s 46.7% of circulating supply. 65.5M $YB committed, while liquid float stays tight.

Nearly half the float is committed. https://t.co/VtZCmxQeja

I calculated recent revenue from volatility and adjusted it to value-receiving m.cap.

What I found out:

$YB made ~x100 revenue per $1 of revenue-receiving token m.cap vs. $HYPE [30 jan - 4 feb period]

If we take
- official $HYPE circulation from Coingecko, which doesn't include team tokens staked in validators that anyway receive value from buybacks.
- all circulating $YB (including those not locked in veYB that don't receive any revenue),
- it would be 30x

Details:
- @HyperliquidX earned $14.43M revenue for $HYPE token holders
- @yieldbasis earned $0.794M revenue for $YB holders (locked to veYB)
- Revenue: 0.974M/14.43M =0.0675 (or 6.75%), while value-receiving m.cap ratio is YB/HYPE = ~0.0007 (or 0.07%)

Value receiving m.caps:
- $YB: $10.78M (only veYB locked tokens receive revenue)
- $HYPE ~$15B (accounting all staked tokens to validators, incl team ones, since all these tokens receive value from buybacks)

$YB Emission vs. fees (total stats):
- Ratio: fees (LP+veYB)/emissions: 2.24x
- Average daily fees: ~$142K/day
- Average emission per day: $63k (~161K $YB/day)

Aggregate numbers:
1. Emissions: $5,266,742 (13,398,345 $YB with $0.39 avg price)
2. Total fees: $11,811,463
3. Average YB mining price: $0.83 (average yield per 1 YB mined, paid by staked LPs to receive emissions)
4. Emissions/Admin fees (veYB only) = 0.37 ($1,950,000 admin fees captured in v2 pools)

Numbers account for v2 pools only (recent 83 days)

This data comes live soon