Yearn Finance (YFI) founder Andre Cronje announced in his blog post today that they have partnered with SushiSwap. Speaking about the similarities between Yearn and Sushi ecosystems, Cronje announced that the YFI and SUSHI teams will now collaborate.
Andre Cronje, one of the most famous figures in the DeFi world, announced that they came together with the SushiSwap team with his statement on Medium today. According to the statements made, YFI and SUSHI teams will now work together for a common purpose.
Cronje announced that it has partnered with four more projects in the past few days. These were Pickle Finance, Cream Finance, Cover, and Acropolis. These four altcoins have gained value thanks to the YFI partnership.
What will the Yearn and Sushi partnership bring?
The Yearn and SushiSwap teams will pool the resources they use as part of this partnership. Yearn developers will support Sushi developers who are trying to prepare Deriswap in this process. In addition, Yearn will assist in the design of xSushi cases and enable people to make money on SUSHI-ETH-YFI-wBTC.
During this whole process, Yearn will start to play a role in Sushi governance, but Sushi’s governance will not change fundamentally. Meanwhile, SUSHI to Yearn’s treasury; Sushi will add YFI to its treasure.
Andre Cronje believes that with this partnership, both Yearn Finance and Sushiswap ecosystem will grow. The famous developer announced that the total amount of crypto money locked on these two platforms will increase with this partnership. According to DeFi Pulse data, SushiSwap is $ 733 million; Yearn Finance has $ 455 million TVL.
Yearn and Sushi crossed paths
Andre Cronje has made a few negative statements about SushiSwap so far. But the famous DeFi developer said in his statement today that the paths of the Yearn and Sushi teams have crossed. Cronje, praising the talent and vision of the Sushi team, explained the following about the new partnership:
“Sushi aims to grow its own Automated Market Maker (AMM) ecosystem; Yearn is trying to expand his own strategies. As such, the paths of Yearn and Sushi began to cross more and more. Yearn needs a customized AMM to expand its strategy. Sushi, on the other hand, began to push the limits of passive income and money markets technologies. Due to this intersection, our work began to unite in a common goal. With today’s announcement, we have carried this partnership to an advanced level. ”
SUSHI price started to rise
Initial reactions to this partnership between Yearn Finance and SushiSwap have been positive. SUSHI token has gained more than 20 percent in the last 24 hours. According to CoinGecko data, SUSHI with a market value of $ 227 million is trading at $ 1.82 as of 10:00. Meanwhile, Yearn Finance gained more than 5 percent in value and reached 27,247 dollars.