Yearn Finance is quickly becoming the defacto multi-purpose DeFi platform as it continues establishing new partnerships and mergers week over week. In what seems like just a few days, Yearn has merged with popular yield aggregator, Pickle Finance and announced key partnerships with CREAM and Cover Protocol.
It has been an incredibly exciting and eventful week in the Yearn ecosystem. Read & subscribe to our newsletter to stay informed!
Yearn Merges With C.R.E.A.M
Yearn & Pickle Form Symbiotic Relationship
Yearn & Cover Merger
PowerPool Integrates YFI
— yearn.finance (@iearnfinance) November 30, 2020
At inception, Yearn started as a simple way to automatically invest tokens into lending protocols with the highest yield, now with the CREAM partnership, Yearn Finance will also have a built-in lending market. From what we’ve seen from the announcements made by Andre Cronje the creator of Yearn, it seems like the protocol’s developers will be involved with the rollout of CREAM V2 which is said to be focused on lending & leverage products. Pickle Finance’s flagship product, the yield-generating pickle jars will also be integrated into Yearn’s Vaults in V2. Since both the Pickle Finance developer team and the Yearn core team both worked on yield strategies, it naturally made sense to reduce duplicative efforts and join forces.
The latest of the recent announcements to come from Yearn is it’s a merger with Cover Protocol who provides smart contract coverage on various DeFi applications running today. This is the first Yearn partnership that is outside the realm of yield generation & aggregation, partnerships like ones we’ve covered in this article should be noted as they improve both the core competencies of the Yearn platform while also expanding Yearn into new verticals like insurance cover.
These partnerships, mergers whatever you want to call them, will grant the protocols involved greater efficiencies of scale and also bring in additional developer talent into the Yearn ecosystem. It’s difficult to make one-to-one comparisons between these events and their counterparts in the traditional business world as DeFi is inherently different from an infrastructure standpoint. In response to questions and criticism regarding the recent events, Andre published a short piece on how he categorizes each of the recent announcements involving Yearn here.
The pace of innovation in DeFi is generally already quite astounding, but the Yearn team/community seem to be pushing the envelope in particular, keep up with Yearn Finance by following their Twitter.