Yearn Finance acquire Cover. Yearn founder Andre Cronje has revealed the latest in a series of high-profile mergers and partnerships for the multi-faceted Decentral Finance (DeFi) protocol: Yearn Finance will be “joining forces” with market coverage provided by Cover.
Cronje notes in a blog post that the merger will be a natural one, as Yearn and Cover developers have been working together since Cover’s inception. Cronje also listed a series of promising possible synergies, including enhanced utility for the Cover’s CLAIM token, which will act as collateral and become a borrowable asset for Yearn, as well as enhanced security for Yearn vaults via Cover’s market coverage.
The Cover merger is just the latest for Yearn. Yearn announced forthcoming projects with yield farming protocol Pickle Finance, a vault integration with crypto wallet Argent, and a merger with lending protocol Cream Finance.
Acquisitions are noteworthy for how they boost both the core competencies of Yearn and at the same time, drive the protocol into new markets – both vertical and horizontal. Cream and Pickle would have superior efficiency for Yearn’s Vaults, while Cover grants a new product line to the protocol (Cover representatives claim that they do not provide “insurance” like YInsure, but rather “cover”).
[image: Wikimedia Commons]
