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Yearn Finance continues acquisition spree with Cover

Published 11/28/2020, 10:53 AM
Updated 11/29/2020, 01:00 PM
Yearn Finance continues acquisition spree with Cover

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 “joining forces” with market coverage provide Cover.

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’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.

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