yearn-merges-with-cover,-defi-protocol’s-4th-deal-in-a-week

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

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 for the decentralized finance (DeFi) protocol.,

  • 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 money market, making the CLAIM token collateral and a borrowable asset.
  • For its part, Yearn will get coverage for its vaults and able to over 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.