Yearn Finance Merges with SushiSwap

by in DeFi News

Yearn.Finance & Sushi merge

DeFi platform Yearn.Finance has informed about another merger, this one with SushiSwap, a fork of decentralized exchange Uniswap.

Related: SushiSwap (SUSHI) Surges 30% Higher

The deal suggests joining the two protocols' resources as well as their TVL. According to DeFi Pulse, the present TVL of Yearn is around $455 M and SushiSwap's TVL is about $730 M. This becomes the biggest DeFi merger ever.

Earlier Yearn.Finance built mergers with four other projects — Pickle Finance, Cream Finance, Cover, and Akropolis.

Talking about the partnership, Yearn founder Andre Cronje mentioned that it is overlapping, and thus it is beneficial to merge the protocols. As Sushi focused on developing its AMM (automated market maker) ecosystem and Yearn aims to expand its strategies, the companies alliance will help to achieve those goals. Yearn needed custom AMM practices for strategies, and Sushi is overcoming the limitations of yield and money trading.

SushiSwap will also help Yearn develop and launch its expected project, Deriswap, which would join different parts of DeFi — swaps, options, and loans — into one platform.