Yearn Finance is one of the most prominent decentralized platforms that has been developed to serve the crypto-community. The platform is responsible for providing opportunities to the users for optimizing their yields against the cryptocurrency holdings. The platform allows users to optimize yields through DeFi lending services such as Compound, Fulcrum, Dydx, and Aave.
It was just the first day of the Christmas month when Yearn Finance made a huge announcement for the entire cryptocurrency community. Yearn Finance announced that it was in the process of making a deal and going for a merger with a prominent finance protocol known as SushiSwap.
SushiSwap is a platform that is used for swapping Uniswap fork and Ethereum (ETH) token. The functioning liquidity model that the SushiSwap platform utilizes for the swapping is Automated Market Maker (AMM).
This will mark one merger out of the five that the company has in the pipeline for integration. With the help of the mergers, Yearn Finance, together with its merged projects will be able to combine the Total Value of Assets Locked (TVL) on their platforms. In addition to combining TVL, the firms will be able to consolidate their development resources, introduce new human resources for the governance process, and add to their treasuries.
One of the decentralized finance analyzing/reporting firms known as DeFi Pulse has reported the total value locked (TVL) that the Yearn Finance platform has. It reported that as of now, the total Ethereum (ETH) assets currently available on the Yearn. Finance protocol is worth $451.9 million.
Once the merger between Yearn. Finance and SushiSwap take place, it will mark as the largest DeFi protocol merger for Yearn. It has been reported that the exchange’s total locked assets value is around $847.6 million. However, the decision of the merger falls upon the money market governance platforms. If platforms from both firms give the go, then the merger will finally be completed.
Once the approval has been given and the merger takes place, then SushiSwap will help and cooperate with Yearn in its projects. It has been reported that right after the merger, SushiSwap will help Yearn.Finance in launching the DeriSwap. The DeriSwap protocol will be introduced as a platform that will focus on capital efficiency and help it with options, loans, and combine swaps.
In addition to the above, SushiSwap will also be accompanying Yearn.Finance for the development of another stealth project. However, neither of the parties have confirmed what the project would be.
In addition to its merger with SushiSwap, other mergers that Yearn. Finance has carried out are as follows.
On November 25, 2020, a merger with ‘pickle. Finance’ took place, which is a yellow field maximizer.
On November 26, 2020, a merger with ‘Cream’ took place, which is a leverage and lending platform.
On November 28, 2020, a merger with ‘Cover Protocol’ took place, which is an insurance provider.
On December 1, 2020, a merger with ‘Akropolis’ took place, which is a lending and savings pool platform.