187 total views
Original author: Nick Chong
In the past few months, Yearn.finance has been conducting mergers and acquisitions.
At the end of last year, Year.finance founder Andre Cronje announced that it would merge the DeFi revenue aggregator pickle.finance. Subsequently, Andre Cronje released a series of other cooperation announcements. He said that Yearn.finance will absorb resources from other agreements to achieve key synergy.
So far, Year.finance’s “defi alliance” members include Pickle Finance, Cream Finance, Akropolis, SushiSwap and Cover Protocol.
Of course, AC did not stop. Last Saturday, he revealed that his team is currently working with the Curve team on an unannounced project.
YFI x CRV
Last weekend was the first anniversary of the establishment of Curve. “Yearn”, which was originally launched as iLearn, is now about a year old. These two projects, like Aave, were launched in early 2020 and set off the defi craze in 2020.
So far, the relationship between Year and Curve can be said to be a “parasitic” relationship. Users deposit stablecoins into Year’s machine gun pool (vault), which is then used for automatic liquidity mining and the sale of Curve’s native token CRV. In fact, people sometimes think that Year’s machine gun pool is one of the reasons why CRV has performed so poorly since its release in the third quarter of 2020.
However, this situation may change soon, because Cronje revealed that the Yearn.finance team is “finalizing” some collaborative work, which will be “in the next 1-2 weeks.”
Although it is not clear what the project/product will be, Year’s developer “Banteg” did release the veCRV “Backscratcher” vault at the end of last year. This pool allows users to deposit CRV (cannot be withdrawn) to earn all Year Curve DAO management fee in the product. This is a win-win situation for the Year and Curve ecosystem.
Continue to expand
This is one of Yearn’s recent collaborations with other DeFi agreements, and it extends the scope of the Year.finance agreement beyond the agreements it has absorbed and merged.
Last week, Cronje also revealed its partnership with Alpha Homora, which is part of the Alpha Financial Lab ecosystem.
Alpha Homora is a Yield farming tool that allows users to obtain leverage when conducting liquid mining to increase mining revenue.
Cronje stated that the cooperation between Alpha Homora and the Year ecosystem will increase the leverage ratio of stablecoin deposits up to 90 times, and the leverage ratio of Ethereum deposits up to 80 times.
With Cream v2 (Iron Bank), Alpha Homora v2 and Year v2, all fund banks have become leveraged fund banks, and cross-asset strategies have become feasible. “These cross-platform strategies make the leverage ratio of stable currencies up to 90 times, and the leverage ratio of ETH up to 80 times, and allow users to sell, synthesize or accumulate assets.” ronje wrote.