Yearn and Sushi
Here we go again.
Today Yearn announced a partnership with SushiSwap, bringing AMM expertise to the rapidly expanding Yearn ecosystem.
Andre revealed that while he was initially critical of SushiSwap he’s developed immense respect for both 0xMaki, Boring and the wider SushiSwap team.
The move has been described by Andre as one of the “more aggressive synergies”, and the two will be deeply connected.
In light of this is the first merger that will call upon both YFI and SUSHI owners with a Snapshot vote.
I’m happy to see that token holders will be allowed some say in the specifics this time.
Unstoppable
I joked on Twitter that I couldn’t keep up with the pace of acquisitions from Yearn, but the reality is I really am falling behind. I didn’t cover their merger with Akropolis yesterday which will provide business development expertise and access to their institutional client network.
So far Yearn has integrated with Pickle, Cream, Cover, Akropolis and Sushi within just a few days. Core dev Banteg tweeted “every day till Christmas”, and it really does feel like Yearn’s ecosystem expansion is truly unstoppable right now.
These moves are entirely unprecedented and raise important questions around centralisation, a topic RektHQ dived into today.
From my own perspective I’m cautiously optimistic. We’ve all known that Andre is one of the brightest minds with the highest level of integrity in this space, repeatedly turning down opportunities to fund his work. I’d recommend listening to any of the podcasts he’s featured on to get to understand his personality if you haven’t already.
The Specifics
Check out Andre’s blog for the full details, but the takeaway is Yearn and Sushiswap are going to be interlinked on almost every level.
Sushiswap will complete and launch Deriswap and then move on to a stealth project.
Keep3r will move its full treasury ($11m) to provide liquidity for KP3R / ETH pool, implement on-chain limit orders, stop-loss, and take-profit features for Sushiswap’s LPs and offer gas-less swaps via Metamask.
0xMaki will take the lead on Yearn’s AMM division moving forwards.
Where it gets really interesting is the post’s mentions of previous integrations, with Yearn immediately putting to work their new offerings and demonstrating the advantages of the integrations so far.
Cream will provide liquidity to Sushi’s Bento Box, and Cover will launch SUSHI as coverage, allowing protection for all of Sushi’s pairs.
Most importantly of all for this blog Sushiswap’s token and existing governance system will remain unchanged.
ConclusionAs you can see this integration is really something special. It looks like an incredibly promising acquisition, with both Sushiswap and the Yearn ecosystem benefiting.
Although I’m closely involved with other projects that have integrated with Yearn, this one has got me the most excited for the future of the ecosystem.
I’m happy to see that the defi community is recognising the incredible work 0xMaki and the team have done to build out Sushiswap, and that the wider defi community is moving past the mistakes committed by a community member who now has nothing to do with the project.
Don’t forget to participate in the open Snapshot votes if you can, and as always I will plug both the Yearn and Sushiswap discord community channels.
