Basis Yield ETH Index Price (bye)

The Basis Yield ETH Index from Galleon automates a perpetual basis trading strategy that returns a price-neutral, levered high yield index to those that hold the token. Built using Set’s integration with Perpetual Protocol on Optimism, BYE contains a fully hedged 2x ETH position, with equivalent spot exposure and short exposure via perps. Holders of BYE will earn a USDC-denominated yield when the funding rate is positive while removing exposure to the price volatility of the underlying asset.