What kind of chess will AC play next? Yearn accelerates mergers in the DeFi field


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Original title: “Eat” Sushi in one bite, Yearn accelerates the merger in the DeFi field

According to Year.Finance founder AndreCronje’s Twitter message, YFI will merge with Sushiswap.

In addition to sharing development resources and merging the technical functions of the market infrastructure, the total lock-up volume of the two projects will be merged and each other’s tokens will be held in their respective treasury. The focus of this merger is to enhance collaboration, including:

1. Sushiswap&Yearn merged development resources;

2. The total lock-up volume of Sushiwap and Year increased;

3. Sushiswap will launch Deriswap, a decentralized aggregate trading platform;

4. Integrate Keep3r in Sushibarv2;

5. The Yearn strategy will use Sushiswap;

6. Year will help create the xSushi vault so that people can earn SUSHI-ETH-YFI-wBTC;

7. Keep3r will transfer all funds to SushiswapKP3R/ (about 11 million US dollars) as working capital;

8. Keep3r will implement chain cap price orders to stop losses and help Sushiswap liquidity providers profit;

9. Keep3r will provide gas-free exchange services through MetaWallet for Sushiswap transactions;

10. After Deriswap is released, Sushiswap will participate in a private project;

11. The Sushiswap token trading platform that uses SushiLP tokens as collateral will be launched;

12. The Cream Agreement Reserve will provide liquidity for BentoBox;

13. An agnostic protocol will be launched, aimed at using SUSHI tokens and allowing covSUSHI to cover a single trading pair, such as CLAIM-SUSHI-WETH-WBTC;

14. Sushi tokens and governance will remain unchanged;

15. 0xMaki will be responsible for leading yEarn’s automated market maker business.

AndreCronje said that in the past few weeks of interacting with the current head of the Sushi project, 0xMaki, he has developed great respect for the team’s character, ability and execution. As Sushi focuses on expanding the automated market maker ecosystem, Yearn can also benefit from it. .

However, the token holders of the two communities need to vote on the proposal in order for the two parties to reach a formal cooperation.

Yearn has merged four DeFi agreements: Akropolis, Cover, Cream and Pickle. However, SushiSwap will be Yearn’s largest merger to date , and this is the first time Yearn has worked with a larger lending project. According to DeFi Pulse data, as of press time, SushiSwap’s TVL is $732 million, while Year’s is $440 million.

Talking about mergers and acquisitions cooperation in the DeFi field, Andre Cronje said that this is a new thing that is different from the past, which can not only collaborate and coexist, but also maintain individuality. Cronje first stated,

Ethereum is more like a combination of developers and miners, miners decide whether to upgrade the software, and developers build software for miners. ETH holders are users of the system, V Gods are thought leaders, and the Ethereum Foundation provides funds for the ecosystem, but their voice is limited. In governance agreements, governance can be seen as miners who decide whether to upgrade the agreement.

In the merger of Yearn and Pickle, both teams use the same strategy. Pickle core developers focus on strategy, while Yearn can provide additional security, auditing, and discussion. Therefore, while maintaining independent brands, the development team merged.

In the merger of Year and Cream, liquid mining and currency markets have produced strong synergies. The money market naturally provides leverage, and leverage can be used to increase liquidity in mining. But the vision between the two parties is different, and the customer focus is also different. So despite the merger of the development team, the two parties are more like a partnership.

In the merger of Year and Cover, Cover’s existing token model will remain unchanged, a perpetual insurance model will be introduced, and YFI will be able to create its own insurance system. Therefore, both parties align their goals and results by sharing development resources.

In response, Aave founder Stani Kulechov responded on Twitter. He said that the recent cooperation with yearn.finance is a positive sign for DeFi. All DeFi protocols should strive to achieve cross composability. From the beginning of this year until now, Aave has been working with Andre Cronje, and we have achieved positive network effects.

Lu Yaoyuan, product manager of Maizi Wallet, told Golden Finance that the merger will help integrate DeFi resources and enhance each other’s brands.