Yearn Finance and Cover Protocol Will "Work as One" Following Merger

By Abhimanyu Krishnan | News | 30 Nov 2020

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

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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