2020-12-2 20:34 |
It’s another day and another merger for Yearn.Finance, which just notched up its fifth major collaboration in a week.
In a blog post from yesterday, yearn founder Andre Cronje confirmed that the decentralized finance (DeFi) protocol had collaborated with decentralized exchange (DEX) SushiSwap.
Overlapping Developments and a Path ForwardSushiSwap is a fork of DEX Uniswap. In his blog post, Cronje explained that Yearn and SushiSwap had overlapped in recent developments. SushiSwap has expanded on its automated market maker (AMM), and Yield has broken bonds with its money market and yield strategies. With so much overlap in the systems, Cronje claimed that they could take their relationship to the next level.
Under the new merger, both protocols have agreed to share resources. The total value locked in both protocols will also increase, and the collaboration will see Yearn strategies use SushiSwap going forward.
Also prominent in the new marriage is that SushiSwap will help Yearn launch Deriswap, a new product from Cronje. Announced last week, DeriSwap is a protocol that combines different aspects of DeFi. It focuses primarily on options, swaps, futures, and loans. While Cronje offered scant details about the protocol, he pointed out that it would use the standard Uniswap contract, with liquidity providers offering ETH-BTC. When traders swap tokens, liquidity providers earn fees.
Beyond the developments already laid out, Cronje also highlighted that users would need to vote on several new ones. These include Yearn participating in SushiSwap’s governance and adding SUSHI tokens to its treasury and vice versa. Developers are also proposing grants for Sushi contributors, which will be paid via yGift, and more.
Yearn’s Landmark WeekThis appears to be the one merger that doesn’t have to do with any other announced by Yearn Finance in the past week. So far, Yearn’s SushiSwap collaboration is it's fifth in a week, demonstrating the protocol's seriousness about expanding its footprints across the DeFi space.
Yesterday, the lending and savings protocol Akropolis confirmed that it had partnered with Yearn to develop its operational strategies.
The protocol will benefit from the expanded Yearn ecosystem, including names like lending protocol Cream and insurance market coverage provider Cover.
Yearn is expected to benefit from Akropolis’ business development infrastructure and institutional contacts. Akropolis will deprecate AkropolisOS and Spark, two of its products that aren’t related to yield farming. Both products will be moved to open-source development and incorporate front ends to allow professional traders to access the new ecosystem from Akropolis and Yearn.
The post Andre Cronje’s Yearn.Finance Confirms Fifth Partnership with DEX SushiSwap first appeared on BitcoinExchangeGuide.Similar to Notcoin - Blum - Airdrops In 2024
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