Yearn teams up with Akropolis to boost institutional outreach
Yearn teams up with Akropolis to boost institutional outreach
Akropolis says calling it a merger "is a bit of a misnomer."
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Yearn.finance announced on Monday yet another merger, this time with Akropolis, a multiproduct decentralized finance protocol featuring yield optimization and undercollateralized loans.
Like the Cream Finance merger appear last calendar week, the two ecosystems will remain largely contained in terms of their tokens and overall product lines, a shared annunciation clarifies. Notwithstanding, like with Pickle Finance, Akropolis will at present integrate Yearn vault technology and volition publish its yield farming strategies on its Vault V2 platform.
The 2 development teams will combine and benefit from each others' expertise. Akropolis developers volition be able to build their strategies using tools from the expanding Yearn ecosystem, including Foam's lending platform.
For the Yearn protocol, Akropolis will offer its concern development expertise and institutional contacts, the declaration says. Akropolis volition also deprecate AkropolisOS and Sparta, its two other products unrelated to yield generation. These will be moved into open source development way. Development will then exist concentrated on an institutional forepart that would let professional traders admission the combined Yearn–Akropolis ecosystem.
Akropolis volition also introduce an IOU token to track losses from its recent hack. Platform profits will be redirected into this token'southward fund to eventually repay all those who lost money from the hack. The team said information technology volition streamline integration with insurance protocols to permit more users do good from coverage in the future. The Yearn ecosystem now also includes Encompass protocol, a DeFi insurance provider.
Akropolis said that calling it a merger "is a scrap of a misnomer," despite using the same word to describe the cooperation in its announcement. Many of the integrations rely on the permissionless nature of DeFi, meaning that Akropolis could have unilaterally decided to integrate itself in the Yearn ecosystem at whatever previous point.
However, the cooperation between evolution teams is expected to be very tight and seems to be relying on very specific strengths of each squad — Akropolis will seemingly make use of Yearn'due south development experience in substitution for facilitating institutional onboarding.
Cointelegraph reached out to Andre Cronje and Akropolis, who both declined to comment.
Source: https://cointelegraph.com/news/yearn-teams-up-with-akropolis-to-boost-institutional-outreach
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