Yearn Merges With Cover, DeFi Protocol's 4th Deal in a Week

Yearn is "joining forces" with market coverage provider Cover, capping a busy week in DeFi.

Nov 28, 2020 at 6:56 p.m. UTC
Updated Sep 14, 2021 at 10:36 a.m. UTC

Yearn is "joining forces" with market coverage provider Cover, capping a busy week for the decentralized finance (DeFi) protocol.

  • Yearn's Andre Cronje said Cover will become the backstop coverage provider for Yearn, and for DeFi as a whole.
  • Cover will also be able to expand into a new Cover money market, making the CLAIM token collateral and a borrowable asset.
  • For its part, Yearn will get coverage for its vaults and be able to offer its users a reduced risk product.
  • Yearn developers have worked with Cover Protocol developers since inception, so this collaboration came "naturally" for both parties, Cronje said.
  • In the past week, Yearn announced a partnership with Pickle Finance, a yield farming protocol; a vault integration with Argent, a crypto wallet; and a merger with Cream Finance, a lending protocol.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Musk Sets New Condition for Twitter, Citi Says Terra’s Fallout Unlikely to Hit Wider Financial System

The most valuable crypto stories for Tuesday, May 17, 2022.

The most valuable crypto stories for Tuesday, May 17, 2022.

2
Market Wrap: Cryptos and Stocks Mixed Amid Bearish Sentiment

BTC is stabilizing around $30K while stock market volatility begins to fade.

BTC is stabilizing around $30K while stock market volatility begins to fade.

3
New Data Shows Underground Bitcoin Mining Thriving in China

The U.S. has also expanded its lead in the global hashrate competition.

The U.S. has also expanded its lead in the global hashrate competition.

4
Bitcoin sube a $30K, con una resistencia en $35K

BTC está en camino de registrar una señal de impulso positivo en el gráfico diario.

BTC está en camino de registrar una señal de impulso positivo en el gráfico diario.