The Yearn.Finance (YFI) and Cover Protocol (COVER) projects have announced a merger that will see the two teams' development agendas work in tandem, according to a blog post published on Nov. 28.

• Andre Cronje, founder of Yearn.Finance, said that the two projects would “join forces” to help optimize, enhance, and amplify insurance coverage initiatives that both teams have been independently working on
• The teams have been working closely from the start of their development, with this merger solidifying their respective visions of providing the DeFi market with adequate coverage
• Cover Protocol will focus on a wide range of coverage, collateral and a cover money market, among other things; yearn will use the coverage for its vaults 
• Cover Protocol will allow protocols and DeFi communities to create coverage ecosystems, with the CLAIM token acting as collateral and a borrowable asset on the money market
• The project launched on Nov. 20, and has already executed a claim for the $20 million Pickle Finance hack