Yield Basis YB

Payout, not buybackRank#20▲2Score45

Holders revenue goes to vote lockers (swap fees and bribes), not to a buyback on the market.

Leveraged Farming, Ethereum, 183 days of data

Market cap

$14.0M

price $0.0473 · 7d −23.4% · 30d −39.4%

FDV $36.0M (2.6× market cap)

source defillama

Counted per year

$633k

holders revenue of the last 30 days, $104k, × 365 ÷ 30 (capped at revenue; before the cap $148k), × type factor 0.5 (payouts to vote lockers count 50%)

ve / bribesbuyback share 100%

Pays out 9.1% of its market cap a year, using 100¢ of every $1 it earns.

Not a buyback: counts for 50% in the multiple (type factor 0.5), so the denominator is $633k instead of $1.3M.

Pays every ~11 days; next ~Nov 15. A week without a payout is normal for this token; holders revenue is measured over a whole cycle.

Multiple

22.1×

median of all tokens 20.2×, against 22.1× here

Run-rate

∞

last 7 days $0 × 52 × 0.5 (type factor) = $0 a year

What we checked

Valuation
Multiple 22.1× (type factor 0.5: payouts to vote lockers count 50%), in line with the median of all tokens (20.2×; its category is too small for a peer group). The group's largest earner Hyperliquid trades at 20.2×: 1.1× dearer per dollar returned to holders. On total revenue: 7.8×, 2.3× cheaper than the revenue peer median.
Distribution
ve / bribes: Includes bribes and vote incentives from third parties paid to vote-escrow lockers; no buy pressure on the token. Holders got $148k of $148k revenue in 33 days (whole payout cycles, the window the multiple uses) → buyback share 100%. DefiLlama: “Protocol Fees: Admin fees funded to FeeDistributor for veYB holders”
Sustainability
Holders were paid on 2 days in the last 33 days, against the ~3 payouts its cycle predicts (67%) (pays every ~11 days; next ~Nov 15); largest single day 80% of the 33-day holders revenue (one day carries the window, so the multiple is not a steady pace); paid to holders over the last 33 days: 100% of the best 33-day stretch in 90 days. Revenue −100% over 7 days and 41.0× over 30 days, price −39% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Pays every ~11 daysPays every ~11 days; next ~Nov 15. A week without a payout is normal for this token, not a stop. Holders revenue is measured over 33 days so a full cycle fits.
One-day spikeone day made 80% of the 30-day holders revenue. The multiple does not show a steady pace, so the token stays out of the Cheap lens and buy signals
Insufficient history182 days of data; g7 not computable yet and scored as neutral 50
Small peer group51 peers in universe; median taken from the universe level

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (33d): $148k / $148k; last 33 days, whole payout cycles
To holders: Pays out 9.1% of its market cap a year
FDV / dilution: $36.0M / 2.6×; FDV ÷ market cap
Price 7d / 30d: −23.4% / −39.4%
Revenue growth 7d / 30d: −100% / 41.0×; versus the period before
Divergence: 2.00; revenue growth minus price growth, 30d
DEX liquidity: $502k; DexScreener, representative pools
24h volume: $1.3M; all markets, CoinGecko
Unlocks 30d: —; DefiLlama's schedule does not cover the next 30 days while tokens are still locked
Revenue multiple: 7.8×; market cap ÷ revenue per year
Fee multiple: 5.2×; market cap ÷ fees per year
Distance to peak: 100%; last 33 days ÷ best 33 days of 90 days
Data since: May 13; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 22.1× (scored) · peer median 20.2×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
November 1, 2026	New in top 20voided Nov 1: rule change of 1 Nov 2026: it would not open under the current rules	$0.0643	−29%	—	−26%	not counted

Versus peers

universe (whole universe) · 52 tokens (51 with a multiple) · median multiple 20.2× · Hyperliquid is valued 1212.6× higher. Per dollar that counts for holders, Yield Basis is 1.1× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
PaperStrategy	Buyback + burn	0.2×	0.1×	42%	$780k	$1.9M	+17%
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.6M	−52%
OTC	Buyback + burn	0.5×	0.2×	43%	$292k	$1.9M	+111%
RamsesX	Mixed	0.7×	0.5×	97%	$368k	$2.2M	+8%
nest	Distribution	0.8×	0.4×	100%	$869k	$4.4M	+32%
Sapling	Buyback + burn	0.9×	0.7×	82%	$100k	$1.1M	−30%
ORE Protocol	Buyback + burn	1.0×	1.0×	99%	$4.3M	$51.7M	+37%
StonkFun	Buyback + burn	1.7×	1.0×	60%	$1.7M	$34.5M	−88%
up	ve / bribes	2.0×	1.0×	100%	$313k	$3.9M	−68%
Fake World Assets	Buyback + burn	2.4×	1.7×	80%	$149k	$3.9M	−70%
THORSwap	Mixed	3.7×	2.1×	75%	$312k	$10.4M	+55%
Marinade	Buyback	5.1×	2.5×	50%	$193k	$11.9M	−13%
Chainflip	Buyback + burn	5.4×	5.4×	100%	$520k	$34.4M	+59%
Pons	Buyback + burn	5.7×	5.7×	118%	$1.7M	$99.8M	−84%
Pump	Buyback	5.8×	2.6×	44%	$21.9M	$1.54B	−24%
Usual	Mixed	6.3×	3.3×	70%	$378k	$21.6M	+80%
Aero	ve / bribes	8.7×	4.0×	96%	$7.4M	$372.0M	−6%
Tornado Cash	Mixed	9.6×	7.2×	100%	$278k	$24.4M	−21%
SSV Network	Mixed	12.4×	9.3×	100%	$275k	$31.1M	−10%
Spark	Buyback	13.0×	3.7×	29%	$340k	$53.8M	+133%
Lighter	Buyback	14.6×	11.8×	81%	$4.4M	$775.1M	+14%
edgeX	Buyback	16.0×	7.0×	44%	$622k	$120.8M	−43%
Lido	Buyback	18.6×	6.2×	34%	$0	$255.2M	+6%
Geodnet	Buyback + burn	18.8×	15.1×	80%	$744k	$170.5M	0%
PancakeSwap	Buyback + burn	19.5×	12.8×	65%	$2.4M	$563.6M	−29%
Hyperliquidleader	Buyback + burn	20.2×	20.2×	100%	$68.8M	$16.94B	−3%
Bankr	Distribution	20.3×	8.8×	86%	$237k	$25.1M	−85%
deBridge	Buyback	20.8×	15.6×	75%	$340k	$86.1M	−13%
ApeX Protocol	Mixed	21.2×	15.9×	100%	$145k	$28.2M	−21%
Yield Basisthis token	ve / bribes	22.1×	7.8×	100%	$148k	$14.0M	41.0×
Sky	Mixed	26.7×	8.4×	42%	$5.5M	$1.34B	−3%
Raydium	Buyback	27.1×	16.8×	62%	$1.3M	$425.4M	−65%
Curve Finance	ve / bribes	29.3×	11.1×	94%	$2.6M	$374.4M	+44%
Collector Crypt	Buyback + burn	35.3×	0.9×	3%	$392k	$168.2M	−5%
GMX	Distribution	37.0×	13.5×	73%	$354k	$79.6M	+15%
Maple Finance	Buyback	37.2×	7.4×	20%	$326k	$147.5M	+14%
Uniswap	Buyback + burn	37.3×	37.3×	100%	$8.2M	$3.71B	−20%
Convex Finance	ve / bribes	47.5×	13.8×	95%	$881k	$155.5M	0%
Orca	Buyback	47.8×	7.9×	16%	$130k	$75.6M	−36%
Aster	Buyback + burn	50.2×	∞	—	$2.8M	$1.69B	—
Jupiter	Buyback	50.2×	15.9×	32%	$1.4M	$856.4M	−32%
dYdX	Distribution	51.6×	25.8×	100%	$240k	$75.2M	−15%
Venice	Buyback + burn	68.7×	68.7×	100%	$1.1M	$941.4M	+22%
Kinetiq	Mixed	84.8×	37.3×	59%	$133k	$103.2M	−37%
Railgun	Distribution	86.5×	28.1×	66%	$202k	$116.7M	−9%
Pendle	ve / bribes	104×	37.2×	72%	$411k	$260.0M	+39%
Render Network BME	Burn	122×	86.6×	95%	$751k	$832.8M	+240%
Chainlink	Buyback	152×	147×	100%	$4.3M	$7.66B	−2%
Meteora	Distribution	180×	5.2×	18%	$458k	$161.9M	−60%
NEAR Protocol	Buyback	206×	194×	94%	$1.8M	$4.51B	−18%
Liquity	Distribution	1.2k×	8.2×	80%	$128k	$15.8M	+409%
BONK.fun	Mixed	∞	11.7×	95%	$1.5M	$233.7M	−67%

Score build-up45 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

45of 100#20▲2top 38% one or more parts are the neutral 50

Valuation 16.3Momentum 12.5Divergence 10.0Quality 10.7penalties −5= 44.5

Valuation35%

47Valuation 46.5: HR half 43.1 (multiple 22.07×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 50.0 (revenue peer group fell back to the universe → neutral 50; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

50Momentum 50.0 (neutral): g7 unknown, g30 1.500; missing history gives the neutral 50.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

50Divergence 100.0: d = g30 − p30 = 2.001; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

54Quality 53.7: mean of days HR>0 67% → 61.1 (0 at ≤30%, 100 at ≥90%), largest day 80% of HR30 → 0.0 (0 at ≥60%, 100 at ≤15%), distance to peak 1.00 → 100.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

One-day spike: largest day 80% of the HR window: Momentum 50.0 → 50, Divergence 100.0 → 50.
Penalty −5 (dilution_above_2): dilution ratio 2.57 above 2.

Penalties−5

−5Dilution ratio above 2dilution ratio 2.57 above 2

9 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 1 active child; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Yield Basis
Leveraged Farming · Ethereum
type ve-distribution · source label
“Protocol Fees: Admin fees funded to FeeDistributor for veYB holders”
Admin fees funded to FeeDistributor epochs for veYB holders
Protocol Fees
Admin fees funded to FeeDistributor for veYB holders
adapter on GitHub ↗