DeFi project Yearn.Finance has just announced it has partnered with SushiSwap, a fork of the decentralized exchange Uniswap, the project's creator Andre Cronje has reported.
Yearn.Finance and SushiSwap will combine their resources and total values locked (TVL). At the moment, the indicator of the first one is $457M, while in the case of the second one the figure rises to $739M.
Andre Cronje has stated his team's work follows the same direction as SushiSwap's, so the partnership is a logical step:
"As Sushi focused on expanding their AMM ecosystem, and as Yearn focused on expanding their strategies, more and more overlap became apparent, Yearn needed custom AMM experiences for their strategies, and Sushi started pushing the boundaries of yield and money markets."
SushiSwap will participate in the development of Cronje's new Deriswap project, which will combine several DeFi segments, including swaps, options and loans. Cronje has added:
"Yearn will participate in Sushi governance and add to its treasury some SUSHI. Sushiswap will participate and add to its treasury YFI."
Yearn.Finance signed four agreements last week, however, the partnership with SushiSwap is the largest.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.