yEarn.Finance founder unveils new DeFi protocol Deriswap

The founder of the DeFi project yEarn.Finance, Andre Cronje, announced a new decentralized protocol, Deriswap. It is undergoing an audit, it is said in a statement.

Deriswap unites swaps, futures, options and loans on a single platform. According to Cronje, the result is a ‘capital-efficient market for trading’ that allows liquidity providers to maintain borrower requirements and receive additional rewards.

The founder of yEarn.Finance said he would publish detailed information about the new solution after the audit. He posted the announcement to begin a discussion with developers.

In October, Cronje released the ‘useless’ LBI token as part of an initiative to create liquidity bridges between different exchanges. Users ignored his warning that the coins were not intended for investment and invested funds in them.

Later, the founder of yEarn.Finance posted on GitHub code for another project called Keep3r Network. Despite beta testing, traders added several thousand dollars to the liquidity pool with KPR on the DeFi exchange Uniswap.

In October, a group of investors EMN Investigation opened fundraising for a lawsuit against Cronje.

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