"Eating" Sushi Yearn in one bite to accelerate the merger in the DeFi field_

According to a tweet from Andre Cronje, founder of Yearn.Finance, YFI will merge with Sushiswap.

In addition to sharing development resources and merging the technical functions of market infrastructure, the total locked positions of the two projects will be merged, and each will hold each other's tokens in its own treasury. The focus of this merger is to enhance collaboration, including: 1. Sushiswap & Yearn merge development resources; 2. Sushiwap and Yearn total locked positions increase; 3. Sushiswap will launch a decentralized aggregation trading platform Deriswap; 4. Integrate Keep3r in Sushibarv2; 5. Yearn strategy will use Sushiswap; 6. Yearn will help create the xSushi vault, allowing people to earn SUSHI-ETH-YFI-wBTC; 7. Keep3r will transfer all funds as liquidity to SushiswapKP3R/ETH (approximately US$11 million); 8. Keep3r will implement on-chain limit orders to stop losses and help Sushiswa p liquidity providers profit; 9. Keep3r will provide gas-free exchange services through MetaWallet for Sushiswap transactions; 10. After the release of Deriswap, Sushiswap will participate in an undisclosed project; 11. A Sushiswap token trading platform using SushiLP tokens as collateral will be launched; 12. Cream protocol reserves will provide liquidity for BentoBox; 13. An agnostic protocol will be launched, designed to use SUSHI tokens and allow covSUSHI to cover individual trading pairs, such as CLAIM-SUSHI-WETH-WBTC; 14. Sushi tokens and governance will remain unchanged; 15. 0xMaki will be responsible for leading yEarn's automated market maker business.

Andre Cronje said that in the past few weeks of interacting with 0xMaki, the current head of the Sushi project, he has developed great respect for the team's character, capabilities and execution. As Sushi focuses on expanding the automated market maker ecosystem, Yearn will also benefit from it.

However, token holders from both communities need to vote on the proposal in order for the two parties to reach a formal cooperation.

Yearn has already merged four DeFi protocols: Akropolis, Cover, Cream, and Pickle. However, SushiSwap will be Yearn’s largest merger to date, marking the first time that Yearn has joined hands with a larger lending project. According to DeFi Pulse data, as of press time, SushiSwap’s TVL is $732 million, while Yearn’s is $440 million.

Talking about the mergers and acquisitions in the DeFi field, Andre Cronje said that this is a new thing that is different from the past. It can not only collaborate and coexist, but also maintain individuality. Cronje first said that Ethereum is more like a combination of developers and miners. Miners decide whether the software is upgraded, and developers build software for miners. ETH holders are users of the system, V God is a thought leader, and the Ethereum Foundation provides funds for the ecosystem, but their voice is limited. In the governance protocol, governance can be seen as miners who decide whether the protocol is upgraded. In the merger of Yearn and Pickle, both teams used the same strategy. The core developers of Pickle focused on strategy, while Yearn could provide additional security, auditing, and discussion. Therefore, while maintaining independent brands, the development teams of both parties merged. In the merger of Yearn and Cream, liquidity mining and money markets have a strong synergy. Money markets inherently provide leverage, and leverage can be used to increase liquidity mining. But the visions of the two parties are different, and the customer focus is also different. Therefore, although the development teams have merged, the two parties are more like a partnership. In the merger of Yearn and Cover, Cover's existing token model will remain unchanged, and a perpetual insurance model will be launched, while YFI will be able to create its own insurance system. Therefore, the two parties will align their goals and results by sharing development resources.

In response, Aave founder Stani Kulechov responded on Twitter. He said that the recent cooperation with yearn.finance is a positive signal for DeFi. All DeFi protocols should strive to achieve cross-composability. From the beginning of this year to now, Aave has been working with Andre Cronje, and we have achieved positive network effects.

Lu Yaoyuan, product manager of Maizi Wallet, said that the merger will help integrate DeFi resources and enhance each other's brands.