The pull request has not been merged you can follow it here: https://github.com/BabylonJS/Babylon.js/pull/6387 @trevordev can probably provide an ETA 
@Deltakosh can you please clarify?
A first pass has been done but there is still some todos on it:
The list you show is detailing our target for 4.1 so everybody know what to expect but as long as we do not reach 4.1 it is work in progress.
Maybe we should flag them WIP in the doc ?
Ah, this is indeed quite confusing. I saw the notes, saw the transcoder folder and assumed that it was a partially working solution.
I flagged them as WIP in the what s new it will be pushed in a minute
Thanks for the clarification, will patiently wait for the commit even though .basis encoding time is less than encouraging, but whatcha gonna do. CRN does seem like a better choice and it would be extremely nice if Babylon provided the decoder for this too in the future and who knows, maybe @trevordev will be merciful 
Hey @somerandomguy83, yea, it has not been merged yet, there are some unrelated bugs I have been fixing before I get back to the basis PR. I am hopeful something will be merged this week, sorry for the delay.
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No worries and thank you for the update !
Hi - this is Rich at Binomial (authors of Basis). Encode times depend on how many cores your machine has. The reference encoder (in the basisu tool) will be optimized more over time.
We know of many optimizations, but the important thing was to release a high quality and robust solution first. Optimizations come next.
We are working on Basis full-time, unlike crunch which is no longer being worked on AFAIK. More releases are coming over the next year.
Regards,
-Rich Geldreich
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Thank you very much for getting in touch and providing valuable information !
This is a very impressive solution to all game texture needs and I am glad that you will be addressing encoding times, really looking forward to using this technology in all my projects and thank you very much for taking the time to develop and share these great tech tools !
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Hello @richgel999,
Thank you for popping in the forum This is an amazing piece of tech and we ll follow closely the evolution.
Thanks a lot for having made it open !!!
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Just noticed Makes sense to go with their latest tech of course !
Not a super amazing test, just some extra info for people who can’t test things themselves. Quality source on jpg/png is at 1.2 bits/pixel and basisu and crunch show 0.5 bits/pixel.
BaseColor is a 2k RGB file. Lightmap_1 is a 4k greyscale image.
Crunch (crn 1.04 win32 release build) took 4 seconds to encode the 2k image and 8 seconds to encode the 4k image.
Basisu (v 1.0.5 win32 release build) took 1 minute and 30 seconds to encode the 2k image and exactly the same time to encode the 4k B&W image.
Yup, basisu encodes will take longer vs. crunch, even after we optimize it more. It has more work to do. Basisu optimizes its codebooks a lot more than crunch. Its rate distortion curves can go a lot higher than crunch’s.
We can speed up basisu’s encoder by large amounts (5-10x). This work is ongoing. Unlike Unity’s approach to optimizing crunch (which didn’t change quality or our core algorithms), we will be optimizing the algorithms first and the implementation later.
Thanks,
-Rich
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Here we are:
https://www.babylonjs-playground.com/#4RN0VF
First release with .basis file format support!!!
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Great job.
Thank you very much guys ! Babylon has the most advanced texture compression on the market now, I don’t think any other engine has support for this at the moment and this is amazing news.
Now waiting for updates from Binomial to increase the encoding speed and this will be pure bliss.
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@trevordev You rock, huge personal thanks for making this happen so quickly.
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Any eta for loader.addTextureTask support ?
Also it looks like mipmaps aren’t working.
But beyond those things, its glorious.
addTextureTask should already work actually
pinging @trevordev for confirmation