Facts you need to know about @yieldbasis: The earnings of YB essentially come from the volatility of BTC—whenever BTC experiences price fluctuations, it generates trading volume and transaction fees, thus forming a stable source of income. This is independent of the scale of the strategy. Whether YB manages 100 million or 1 billion dollars, as long as it is not large enough to manipulate the price of BTC, the logic of earnings will not change. In other words, unless YB's scale is large enough to take over the pricing power of BTC, its earnings will always be firmly anchored to the natural volatility of the BTC market.