André Cronje announces collaboration between Curve and yEarn.Finance DeFi protocols

The founder of yEarn.Finance, André Cronje, congratulated his project and Curve on their anniversary and announced an upcoming collaboration between the two DeFi protocols.

Yes. Finalizing currently. Should be live in next ~1-2 weeks

— Andre Cronje (@AndreCronjeTech) January 10, 2021

Cronje added that the joint solution is currently being refined and will be launched within one to two weeks.

Earlier, the creator of yEarn.Finance announced the acquisition of the competitor Uniswap — the decentralized exchange SushiSwap. Prior to that, yEarn.Finance integrated with the lending protocol Cream, the project Pickle Finance and the Argent wallet, the Akropolis project and the peer-to-peer Cover Protocol insurance market.

Analysts deem the interaction between Yearn and Curve as “parasitic”. Users deposit stablecoins into the yVaults storage system to participate in yield farming. This often leads to a dump of the native Curve token, CRV, that they receive. Some see this as one reason CRV has lagged behind other DeFi tokens since its launch in the third quarter of 2020. According to data from CoinGecko, on August 14 CRV traded above the $15 level, and at the time of writing the token quotes had fallen below $1.

What is yield farming?

The lead developer of yEarn.Finance, known by the handle banteg, unveiled the “Backscratcher” vault late last year. It allows depositing CRV tokens (which cannot subsequently be withdrawn) to earn Curve administration fees across all yEarn products.

Details of the new Curve–yEarn.Finance interaction have not been disclosed.

On January 7, Cronje announced the start of a collaboration between yEarn.Finance and the DeFi protocol Alpha Homora, part of the Alpha Finance Lab ecosystem. This integration enables leverage of up to 90x in yield farming for stablecoin deposits and up to 80x for Ethereum deposits.

This is a great example of how #AlphaHomoraV2 and @iearnfinance will grow together.

While both the products are in similar landscape, we find an angle that helps each other grow. 🤝

This is how we work with our partners, and how we think it should be in #DeFi https://t.co/UtGp9bxNRh

— Alpha Finance Lab (@AlphaFinanceLab) January 7, 2021

Back in late 2020, André Cronje unveiled the new DeFi project yCredit. The next day, blockchain developer Nur Haridi found an exploit in it. In November, the creator of yEarn.Finance announced the new decentralized protocol Deriswap, which combines swaps, futures, options, and loans on a single platform.

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