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Beijing time on December 1, news, Year.Finance founder Andre Cronje announced that his team has reached a cooperation with Sushiswap, the two parties will merge development resources, and Sushiswap will form a complementary relationship with Year, Keep3r, Cream agreement, Cover agreement, etc., in addition , Sushiswap will synthesize with Year to launch Deriswap.
The following is a blog post written by Andre Cronje:
I used to say bluntly that Sushiswap did it wrong, but I can’t underestimate how much they did it right. Through the conversations with 0xMaki in the past few weeks, I respect their character, ability and execution. Boring, gave me a similar experience and made me a very powerful, motivated, and talented developer. Soon, I caught the mistakes I didn’t notice. These two factors alone are invaluable for our common journey, but the Sushiswap team is much more, and they will continue to grow.
As Sushi focuses on expanding its AMM ecosystem, and as Year focuses on expanding its strategy, many overlaps become apparent. Year needs to customize the AMM experience for its strategy, while Sushi begins to push the boundaries of revenue and currency markets.
With these overlaps, more and more work began to become mutually beneficial, and at this point, this brought the relationship between the two parties closer.
This is a more positive synergy, so some core projects will be voted on through governance, but I believe that the proposed projects will not only help foster the ecosystem, but also help us expand into larger areas.
- Sushiswap and Yearn merge development resources;
- The lockup value of Sushiwap and Year increased;
- Sushiswap will complete and launch Deriswap through cooperation;
- Integrate Keep3r into Sushibar v2;
- The Yearn strategy will use Sushiswap to move forward;
- Yearn will help create the xSushi vault so that people can earn SUSHI-ETH-YFI-wBTC;
- All Keep3r liquid funds will be transferred to Sushiswap KP3R/ETH (approximately US$11 million);
- Keep3r will execute chain cap price orders, stop losses, and profit for Sushiswap LP;
- Keep3r will provide gas-free swap transactions for Sushiswap transactions through MetaWallet;
- Sushiswap will participate in a secret project with Yearn after Deriswap is released;
- Sushiswap currency market with Sushi LP as collateral will be launched;
- The Cream Agreement Reserve will provide liquidity for Bento Box;
- The Cover Agreement will introduce the use of SUSHI as a coverage, and allow covSUSHI to cover individual pairs, such as CLAIM-SUSHI-WETH-WBTC;
- Insurance coverage of the currency market will include Sushiswap permanent insurance;
- Sushi token and governance will remain unchanged;
- 0xMaki will be responsible for leading the AMM development team of yEarn;
- For asset pairs that need incentives, Year will get 0.2 times the distribution reward;
- Yearn will participate in Sushi governance and add some SUSHI to its vault;
- Sushiswap will participate in YFI governance and add YFI to its vault;
- Subsidies for Sushi contributors will now be paid through yGift;
- Keep3r/ETH will be added to the permanent menu;
Note: Proposals with * need to pass the governance voting of Yearn and Sushiswap respectively.