{"id":122143,"date":"2020-11-28T18:53:37","date_gmt":"2020-11-28T15:53:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/yearn-finance-continues-acquisition-spree-with-cover\/"},"modified":"2020-11-28T18:53:37","modified_gmt":"2020-11-28T15:53:37","slug":"yearn-finance-continues-acquisition-spree-with-cover","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/yearn-finance-continues-acquisition-spree-with-cover\/","title":{"rendered":"# Yearn Finance continues acquisition spree with Cover"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a30807f1160b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a30807f1160b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/yearn-finance-continues-acquisition-spree-with-cover\/#Protocols_or_developers\" >Protocols or developers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/yearn-finance-continues-acquisition-spree-with-cover\/#Community_involvement\" >Community involvement<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Yearn Finance continues acquisition spree with Cover  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTEvNzNiNDQyZmMtYzJjZS00YTIzLWEwY2YtMTEwM2FmYTZlZTdjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>This morning, Yearn founder Andre Cronje announced the latest in a spate of high-profile mergers and collaborations for the multi-faceted decentralized finance (DeFi) protocol: Yearn Finance will be \u201cjoining forces\u201d with market coverage provide Cover.\u00a0<\/p>\n<p>In a blog post, Cronje notes that the merger will be a natural one, as Yearn and Cover developers have been working together since Cover\u2019s inception. Cronje also listed a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of promising possible synergies, including enhanced utility for the Cover\u2019s CLAIM token, which will act as collateral and become a borrowable asset for Yearn, as well as enhanced security for Yearn vaults via Cover&#8217;s market coverage.<\/p>\n<p>The Cover merger is just the latest in what has been a wild week 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. <\/p>\n<p>The acquisitions are notable for how they improve both the core competencies of Yearn while also pushing the protocol into new markets \u2014 both vertical and horizontal expansion. Cream and Pickle will enable superior efficiency for Yearn\u2019s vaults, while Cover grants the protocol a new product line (Cover representatives insist that they do not offer \u201cinsurance\u201d like yInsure, but instead \u201ccover\u201d). <\/p>\n<p>There is some nuance to each \u2018acquisition,\u2019 however. While Cronje\u2019s blog posts describes the work with Cover and Cream as \u201cmergers,\u201d senior developer Banteg noted on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> that the Pickle announcement is a \u201cdeveloper collaboration,\u201d and it has been described by the official Yearn Twitter account as a \u201csymbiotic relationship.\u201d <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Protocols_or_developers\"><\/span>Protocols or developers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One possible reason for the rapid expansion might be that working with other protocols grants Yearn not just greater vault efficiencies across the DeFi ecosystem, but also allows the protocol to tap an important resource that has been prioritized in recent weeks: developers.<\/p>\n<p>One observer compared the moves of legendary tech exec and investor Keith Rabois, who is notable for his focus on talent acquisition and management:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Andre is clearly pulling off some Galaxy brained moves. Scooping up talented developers and monopolizing talent is a move straight out of <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/rabois?ref_src=twsrc%5Etfw\">@rabois<\/a> <\/p>\n<p>But that doesn\u2019t mean YFI is worth anything.<\/p>\n<p>\u2014 Tyler Reynolds (@tbr90) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/tbr90\/status\/1332363647499251713?ref_src=twsrc%5Etfw\">November 27, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Incentivizing, training, and bringing in new developers has also been a priority for the protocol. Two recent Yearn Improvement Proposals (YIPs), YIP-52 and YIP-53, increased the quantity of vault rewards allotted to smart contract engineers who develop the vault strategies and established the \u201cyAcademy,\u201d an audit training program, respectively.\u00a0<\/p>\n<p>The latest moves indicate that Yearn is reaching outside its ecosystem to recruit talent while simultaneously building internal pipelines. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Community_involvement\"><\/span>Community involvement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Some critics have pointed out that these protocol acquisitions have not been <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved by community vote via a YIP:\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I think it\u2019s a serious issue. Even shareholders of centralized corporations have to vote on approving acquisitions.<\/p>\n<p>Check out this article we wrote: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/A5LSOmQWm9\">https:\/\/t.co\/A5LSOmQWm9<\/a><\/p>\n<p>What leaders are openly saying about their communities in even the public Discord channels is horrendous<\/p>\n<p>\u2014 The Ether  (@TheEther2077) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheEther2077\/status\/1332127959591907328?ref_src=twsrc%5Etfw\">November 27, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a Twitter thread, however, a member of the Yearn Operations team noted that \u201cThere are variations and gradients\u201d to decentralized governance, and that if community members want to organize a merger, they would have the power to do so and would be supported if the proposal \u201cseems cool.\u201d\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cDecentralized Governance\u201d is not a monolithic concept. There are variations and gradients. And related concepts like self-management and networks.<\/p>\n<p>DAOs != postmodern consensus mechanisms where every voice is heard and every decision up for debate.<\/p>\n<p>\u2014 tracheopteryx.eth (@tracheopteryx) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/tracheopteryx\/status\/1332443087470276611?ref_src=twsrc%5Etfw\">November 27, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The team member went on to explain that Yearn is peopled with self-starting \u201cbuilders, creatives, and doers,\u201d and that Yearn\u2019s permissionless structure means that there are few gates in the way of community members who wish to take proactive actions to improve the protocol.\u00a0<\/p>\n<blockquote><p>\u201cBecause that\u2019s how shit gets done here,\u201d the team member concluded. \u201cThat\u2019s who makes decisions for yearn: you do.\u201d<\/p><\/blockquote>\n<p>As has become a habit for the rapidly-expanding protocol, the team declined to comment on this article.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/yearn-finance-continues-acquisition-spree-with-cover\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Yearn Finance continues acquisition spree with Cover &#8221; This morning, Yearn founder Andre Cronje announced the latest in a spate of high-profile mergers and collaborations for the multi-faceted decentralized finance (DeFi) protocol: Yearn Finance will be \u201cjoining forces\u201d with market coverage provide Cover.\u00a0 In a blog post, Cronje notes that the merger will be&#8230;<\/p>\n","protected":false},"author":1,"featured_media":122144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/73b442fc-c2ce-4a23-a0cf-1103afa6ee7c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74891,70299],"class_list":["post-122143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-ethereum","tag-insurance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/122143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=122143"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/122143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/122144"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=122143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=122143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=122143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}