By Hidayat Sultanli
On Dec 01, 2020
Yearn.Finance announces SushiSwap as the next merging project. The total number of merged protocols becomes 5 after SushiSwap.
SushiSwap becomes the next DeFi project that Yearn.Finance adds to the basket of “mergers.” SushiSwap is a decentralized exchange that is forked from Uniswap.
The founder of Yearn, Andre Cronje, announced the merging news on the Medium account. He talked about how impressive is the works of SushiSwap developers. Cronje also highlighted the projects that will continue after the merger by both of the parties. For instance, SushiSwap will complete and launch the Deriswap in collaboration. Keep3r will be inside the SushiSwap. 0xMaki, AMM of SushiSwap, will begin to lead the AMM of the yEarn. Yearn will add some SUSHI to its treasury. SushiSwap and Yearn will participate in each other’s governance. However, SUSHI token governance will not change after the merger.
Yearn.Finance and SushiSwap will combine the total value locked as the agreement suggests. Before the agreement, the TVL of Yearn.Finance was about $455 million, and for SushiSwap, it was around $740 million. According to the DeFi Pulse, Yearn and SushiSwap are in the 3rd ranking in their fields, respectively in assets and dexes. This merger will be the biggest one that Yearn did recently.
If we look at the whole picture, then it will be a great merger for the DeFi community. The merger will strengthen the position of both projects.
Yearn was very active in the market during recent months. Yearn announced Pickle and Akropolis. These projects will help to support the plans about yield farming. Besides them, Yearn will work with the Cream platform to realize the Cream V2 project. The Cover was one of the latest partnerships till now. In each blog post of Andre Cronje, he announced some details of the collaborations. The main topic in all those blogs is the symbiotic relationship of Yearn with other projects.
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