Golden Observation | "Eat" Sushi Yearn in one bite to accelerate the merger in the DeFi field

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

In addition to sharing development resources and merging the technical functions of the market infrastructure, the total locked volume of the two projects will be combined and each other's tokens will be held in their respective treasuries. The merger focuses on enhanced collaboration, including:

1. Sushiswap & Yearn merge development resources;

2. The total lock-up volume of Sushiwap and Yearn increased;

3. Sushiswap will launch Deriswap, a decentralized aggregation trading platform;

4. Integrate Keep3r in Sushibarv2;

Jinse Finance mining data broadcast: ETH’s network computing power rose by 1.22% today: Jinse Finance reported that according to the data from the Spider Mine Pool:

The computing power of the BTC network is 152.256EH/s, the mining difficulty is 20.60T, the current block height is 665669, and the theoretical income is 0.00000695/T/day.

The computing power of the ETH network is 321.643TH/s, the mining difficulty is 4139.00T, the current block height is 11637590, and the theoretical income is 0.01020432/100MH/day.

The BSV network computing power is 0.837EH/s, the mining difficulty is 0.10T, the current block height is 669637, and the theoretical income is 0.00107472/T/day.

The computing power of the BCH network is 1.513EH/s, the mining difficulty is 0.26, the current block height is 669985, and the theoretical income is 0.00059466/T/day. [2021/1/12 15:57:16]

5. The Yearn strategy will use Sushiswap;

Golden hot search-zce list: SYS is at the top of the list: According to the data of Golden Finance and Economics ranking list, in the past 24 hours, SYS ranked first in terms of search-zce volume. The specific top five list is as follows: SYS, BCD, LTC, ETH, XRP. [2020/7/24]

6. Yearn will help create the xSushi vault, allowing people to earn SUSHI-ETH-YFI-wBTC;

7. Keep3r will transfer all funds as working capital to Sushiswap KP3R/ETH (about 11 million US dollars);

8. Keep3r will implement on-chain price limit orders to stop losses and help Sushiswap liquidity providers profit;

Jinse Finance Market Report丨BTC’s 1-hour box fluctuates and bulls are under pressure, and the market may trade on the left side: According to the Huobi market, the overall BTC market today maintains a narrow range of volatility, and the key positions of 7100USDT are repeatedly stalemate. The 1-hour short-term wedge-shaped breakthrough is weak , but the moving average intersects short-term to form another upside momentum. The upper pressure levels of 7140USDT and 7170USDT are strong positions for bears. Even if BTC has a chance to break through in the short term, the probability of being blocked at the pressure level is still relatively high, and the overall market may trade at a left-hand rhythm. As of 18:30, the specific performance of the mainstream coins on the Huobi platform is as follows: [2020/4/17]

9. Keep3r will provide gas-free exchange service through MetaWallet for Sushiswap transactions;

Golden Finance News: Within 5 days of Quantum Chain’s listing, Bithumb’s trading volume reached 51% of the world’s trading volume, becoming an overwhelming number one. [2017/11/10]

10. After the release of Deriswap, Sushiswap will participate in an undisclosed project;

11. The Sushiswap token trading platform using SushiLP tokens as collateral will be launched;

12. The Cream protocol reserve will provide liquidity for BentoBox;

13. An agnostic protocol will be launched, aiming 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, ability and execution. As Sushi focuses on expanding the automated market maker ecosystem, Yearn can also benefit from it .

However, token holders from both communities will need to vote on the proposal in order for the two parties to enter into a formal partnership.

Yearn has already incorporated four DeFi protocols: Akropolis, Cover, Cream and Pickle. Still, SushiSwap will be Yearn’s biggest merger to date, and the first time Yearn has joined hands with a larger lending project. According to DeFi Pulse data, at press time, SushiSwap’s TVL is $732 million, while Yearn’s is $440 million.

Talking about 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 cooperate and coexist, but also maintain individuality. Cronje first stated that Ethereum is more like a combination of developers and miners. Miners decide whether to upgrade the software, and developers build software for miners. ETH holders are users of the system, Vitalik is the thought leader, and the Ethereum Foundation funds the ecosystem, but they have limited say. In a governance protocol, governance can be seen as miners who decide whether to upgrade the protocol. In a Yearn-Pickle merger, both teams use the same strategy, with Pickle core developers focusing on strategy while Yearn can provide additional security, auditing, and discussions. Therefore, while maintaining independent brands, the development teams merged. In the Yearn-Cream merger, liquidity mining and currency markets create powerful synergies. Currency markets inherently provide leverage, which can be used to improve liquidity mining. But the vision is different between the two parties, and the customer focus is different. So while the development teams have merged, it's more of 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, by sharing development resources, the two parties will match the goals with the results.

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

Lu Yuanyuan, product manager of MathWallet, told Jinse Finance that the merger is conducive to the integration of DeFi resources and mutual promotion of brands.

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