Yearn Finance includes Cover in its acquisitions

This morning, Longing founder André Cronje has announced The latest from a series of top-class mergers and collaborations for the diverse DeFi protocol (decentralized finance): Yearn Finance to “Partner” with Cover, the provider of market coverage.

In a blog post, Cronje points out that the merger will be natural The developers of Yearn and Cover have been working together since the creation of covers. Cronje also spoke about a number of promising potential synergies, including a Increased utility for Cover’s CLAIM token, which serves as collateral and becomes a creditable asset for Yearnas well as increased security for Yearn safes thanks to Cover’s market coverage.

The cover merger is just the latest in a busy week for Yearn. Yearn announced its upcoming projects with Pickle Finance, the Yield Farming Protocol, an integration of the vault into the Argent Crypto Wallet and a merger with the Cream Finance Loan Protocol..

Yearn Finance includes Cover in its acquisitions
Yearn Finance includes Cover in its acquisitions

The acquisitions are characterized by enhancing Yearn’s core competencies while driving the protocol into new markets, expanding both vertically and horizontally. Cream and Pickle enable superior efficiencies for Yearn’s safes, while Cover brings a new line of products to Protocol (Cover agents insist they don’t offer “insurance” like yInsure, but “cover”).

There are, however, some nuances in any “acquisition”. While Cronje’s blog posts describe the work with Cover and Cream as “fusions”., Lead developer Banteg noticed on Twitter that Pickle’s announcement is a “developer collaboration”and was named by Yearn’s official Twitter account as “symbiotic relationship“.

Protocols or developers

This could be a possible reason for the rapid expansion Yearn guarantees working with other protocols Not only Boost vault efficiency across the DeFi ecosystem, it also allows the protocol Leverage an important resource that has been prioritized over the past few weeks: developers.

One observer compared the steps of legendary technology manager and investor Keith Rabois, who is characterized by his focus on talent acquisition and management:

Andre obviously makes some clever Galaxy moves. Raising talented developers and monopolizing talent is a step straight from @ Rabois

But that doesn’t mean that YFI is worth anything.

Encouraging, training and involving new developers was also a priority of the protocol. Two recent proposals for Improving Desire (YIP), YIP-52 and YIP-53, increased the number of vault rewards assigned to smart contract engineers who develop vault strategies and created the yAcademia, a program of audit training.

The latest moves show that Yearn reaches out to talent outside of its ecosystem while strengthening its internal structure..

Social Commitment

Some critics have noted that these log adoptions were not approved by a community vote through a YIP:

I think it’s serious business. Even the shareholders of centralized companies need to vote to approve acquisitions.

What executives openly say about their communities, even on Discord’s public channels, is terrible.

However, in a Twitter thread A member of the Yearn operations team noted that there are “differences and slopes” in decentralized governance, and if community members wanted to organize a merger, they would have the option to do so and get support if the proposal “sounds great”.

“Decentralized governance” is not a monolithic concept. There are variations and gradients. And related concepts like self-management and networks.

DAO! = Postmodern consensus mechanisms in which every voice is heard and every decision is discussed.

The team member explained that further Yearn is populated by “builders, creatives and doers” who set up themselvesand that Yearn’s permissionless structure means there are few doors for community members willing to take proactive steps to improve protocol.

“Because that’s the way things are done here,” concluded the team member. “That’s what makes the decisions for Yearn: you do it.”

Since it has become a habit for the rapidly growing protocol, the team declined to comment on this article.

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