Yearn Finance Newsletter #14

Week Ending December 6th, 2020

Welcome to the 14th edition of the Yearn Finance Newsletter. Our aim with this newsletter is to keep the Yearn and the wider crypto community informed of latest news, including product launches, governance changes, and ecosystem updates. If you’re interested in learning more about Yearn Finance, follow our official Twitter and Medium accounts.

Summary

  • Yearn x SushiSwap

  • Yearn x Akropolis

  • Keep3r Scaling With Chainlink

  • Bancor Liquidity Mining Program

  • Coinbase Adds YFI-BTC Pair

  • Weekly Partnership Newsletter Launch

  • Yearn State of the Vaults

  • Governance Updates (YIPs)

  • Ecosystem News

Yearn x SushiSwap

We are pleased to announce that SushiSwap has joined the Yearn ecosystem and will serve as our Automated Market Maker (AMM) arm. As such, Yearn yVault strategies or other products will incorporate SushiSwap liquidity pools. Additionally, SushiSwap will be the launchpad for our upcoming Deriswap release, and an unannounced stealth project. Both upcoming projects are under research & development. 0xMaxi will lead Yearn’s AMM arm under the SushiSwap brand. The C.R.E.A.M protocol (Yearn’s lending platform) will provide liquidity to SushiSwap’s upcoming Bento Box release. 

There are several synergies formed from this alliance that you can read in the Medium post announcing this partnership here. If you would like more information about Deriswap you can read that here. More information on Bento Box can be found here

Yearn x Akropolis

Akropolis has also joined the Yearn ecosystem and will serve as our institutional service provider for yVaults and upcoming lending products. Yearn will benefit from Akropolis’ network of institutional clients and will gain access to new investment strategies created by Akropolis. Akropolis will benefit from a close relationship with Yearn’s development resources and integration with other products in the Yearn ecosystem. 

Furthermore, Akropolis’ vaults will merge with our upcoming v2 vaults and will be eligible to earn PICKLE through the Pickle gauge. Akropolis' vaults will also be able to incorporate leveraged strategies using our upcoming C.R.E.A.M v2 lending platform. The Akropolis app will undergo an upgrade and offer institutional clients bespoke services integrating C.R.E.A.M v2. A new token will also be launched to compensate victims of the recent exploit that affected Akropolis. Additional details of this token will be provided in the future.

You can read the Medium post announcing our partnership with Akropolis here

Keep3r Scaling With Chainlink

Keep3r is a network that facilitates keepers to perform automated tasks on behalf of requestors. Keep3r is aimed at smaller projects that do not require extremely secure and tamper resistant oracles. Chainlink, however, provides secure, tamper-resistant, and highly reliable oracles that are aimed at high value smart contracts and Fortune 500 entities. Keep3r will integrate with Chainlink so that projects using Keep3r now can seamlessly use Chainlink oracles in the future, if they desire. 

Keepers that have successfully completed a substantial number of jobs will be eligible to join the Chainlink network as nodes. These nodes will transition to using LINK (the native currency of the Chainlink network) to perform tasks on the Chainlink network. This results in a seamless integration that will help scale the security and reliability of the Keep3r network. 

You can read the Medium post announcing this integration here

Bancor Liquidity Mining Program

YFI has been approved by Bancor governance to receive BNT rewards as part of the liquidity mining program that was launched with their Bancor v2.1 release. YFI holders can deposit to Bancor liquidity pools and receive BNT rewards in addition to trading fees earned by swaps made with the pool. 

Bancor v2.1 purportedly eliminates Impermanent Loss, but requires depositors to remain in the pools for at least 100 days in order to receive insurance against Impermanent Loss. We urge YFI holders to be cautious entering these pools as they are experimental, and there is not sufficient data that their IL insurance solution works exactly as intended.

You can read more about Bancor v2.1 and their IL solution here. You can add liquidity to the pools here

Coinbase Adds YFI-BTC Pair

A new YFI-BTC pair will be added to Coinbase on December 8th, and trading is scheduled to begin on or after 9am PST on December 9th. You can read the Coinbase blog post regarding this new pair here

Weekly Partnership Newsletter

There have been several additions or partnerships formed in the Yearn ecosystem recently. It may be difficult to stay updated with all of these integrations. Yearn Communications member, Nomad, will begin publishing a weekly newsletter that covers news from our various partners. The first issue was already published that you can read here

Yearn State of the Vaults

You can read our weekly synopsis regarding Yearn’s yVaults, including current strategies and upcoming changes here

Governance Updates (YIPs)

You can read our weekly governance roundup discussing newly proposed, on-going, or passed governance proposals here.

Ecosystem News

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C.R.E.A.M, Yearn’s lending platform, uses Chainlink oracles

Poll on Snapshot regarding the creation of a YFI governance vault

Sneak peak at the Bento Box UI

New updates to our Feel the Yearn app

Yearn Vaults v0.2.2 “Belka” released

Sign approvals and deposit into yVaults in one transaction

Leveraged COMP strategy has its first harvest

Thread regarding some recent Yearn integrations

Diagram and thread explaining Yearn yVaults

Youtube interview featuring Yearn ops member Tracheopteryx

Exploit affecting SushiSwap identified and patched

Yearn Family Portrait NFT

New page on Coingecko tracking marketcaps of recent Yearn partners

The yAlliance has been created

Core thesis of Yearn contributors

YFI unique token addresses continues to grow

PowerPool proposal to create an index of Yearn partner projects

Yearn finance explained in under 60 seconds

zLot yVault under testing