latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Yearn.Finance Partners With DeFi Protocol Cream

Yearn.Finance Partners With DeFi Protocol Cream

Less than two days after news broke that decentralized finance (DeFi) platform Yearn.Finance (YFI) had absorbed the Pickle Finance protocol, it announced another merger. This time with DeFi protocol Cream.

In a blog post published on Nov 26, Yearn said that the two projects are joining forces to launch Cream v2. The launch will reportedly focus on core lending and leverage products.

“Cream v2 enables earning yield with leverage, and is a launchpad for future Yearn & Cream collaborative lending products,” the post read.

According to Yearn’s founder Andre Cronje, “the addition of an in-house money market for Yearn unlocks considerable new synergies for platform growth.”

These synergies include total valued locked (TVL) increases, additional collateral, extra leverage, pair lending, and the launch of a new 0 collateral protocol credit solution.

Source: Yearn.Finance

In practice, the partnership between protocols means that Yearn users will be able to put their vault tokens up as collateral for loans on Cream. And in addition, the farming strategies will be able to tap into leverage on the platform, offering a potentially new avenue for increasing yield.

The Cream Protocol

Launched in August 2020, Cream has often been compared to other lending protocols like Compound and Aave. Cream, an acronym for “crypto rules everything around me,” is a DeFi protocol that provides lending, exchange, payment, and asset tokenization services.

In a recent write-up , Boxing called the relative newcomer “promising” and a fit for what many cryptocurrency users need from the market.

Community Reactions

Although the term merger was thrown around after Yearn’s announcement, one analyst pointed out that this was probably an inaccurate way to describe it.

The reason being that the governance and token economics of Cream will remain unchanged. Going forward, the two protocols will cooperate closely but continue operating separately.

Although the news appears to have been greeted positively by the majority of the Yearn community, there has been little time to form an opinion on the Pickle announcement, let alone another partnership.

Also, there were at least a few dissenting responses. One called into question Cream founder Jeffrey Huang’s history and called the move “disappointing.”

As for token prices, Cream shot up almost 50% to around $70 in the last 24-hours (according to CoinGecko ) while YFI is down about 9%, close to $21,500 during the same time.

YFI has made some solid gains in November, doubling in price, but is still 45% adrift of its dizzying peak of $44,000 in mid-September
The post Yearn.Finance Partners With DeFi Protocol Cream appeared first on BeInCrypto . shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Yearn.Finance Partners With DeFi Protocol Cream

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News