Baseline
@baselinemarkets
$YES is now live on @base ! 0x1B68244B100A6713ca7F540697b1bE12148a8bf9 This isn’t just a re-launch - it’s a major upgrade that comes with: 💧 New liquidity design - absorbs large sells 🔒 Fixed supply - no more confusion 💰 0% borrows - no liquidation Let’s break it down 🧵👇
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Baseline
@baselinemarkets
New liquidity design The new market making contract rebalances more intelligently: instead of 4 distinct actions (bump, slide, sweep, drop), the core functionality happens through a single rebalance() operation. Additionally, the new liquidity design uses Leveraged Anchor LP. This increases liquidity in the anchor position by borrowing reserves against supply it buys back within that range. The result is significantly more liquidity above the floor to absorb larger sells while minimizing price impact. Currently, there’s ~10x more liquidity on the sell-side than buy-side. You can study the new liquidity design here: https://data.baseline.markets/pol_liquidity
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Baseline
@baselinemarkets
We actually saw the new liquidity design in action yesterday when a trader sold $137K in one clip while the price moved < 1%. Note that this liquidity is not symmetric: it takes much less to move price up.
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Baseline
@baselinemarkets
Fixed supply YES is the first bToken with fixed supply. This aligns more closely with trader expectations and eliminates unnecessary confusion about elastic supply. Here are some other key stats: - 21M total supply - $69M starting market cap 👌 - $80K liquidity depth (bids needed to move price +2%) - 9,881 holders
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Baseline
@baselinemarkets
Borrow backing at 0% interest & no liquidation Every bToken comes with its own lending facility. Those who want liquidity can borrow ETH against their YES. With this upgrade, we’re changing the game - there will no longer be any interest charged on borrows or loops. Instead, borrowers will pay a one-time fee when they create their loans. And these loan never expire. That means 0% interest, with no liquidation or expiration risk. As of today, there’s ~$2.5M that remain un-borrowed by traders. Sidelined?
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Baseline
@baselinemarkets
These upgrades went through 3 rigorous audits with our security partner - Guardian Audits. They're one of the best in the industry and we highly recommend them. List of audits can be found here: https://docs.baseline.markets/contracts/security
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Baseline
@baselinemarkets
The migration to @base was just the start. Over the next few weeks we'll be sharing more details about our upcoming API, the new Baseline Terminal, and [redacted]. BLV in something 🙏📈
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