According to an announcement made on Feb. 7, DeFi protocol Yield Finance (YLD) has migrated to SushiSwap from Uniswap, with the Yield Garden henceforth using SushiSwap Liquidity Provision (LP) tokens.
- Yield Garden v1 had two liquidity pools, ETH-YLD and RFI-YLD, which had users stake their Uniswap LP tokens in the garden
- Garden v2 drops the RFI pair and instead only supports ETH-YLD, besides using SushiSwap's LP tokens for staking
- The move to SushiSwap was motivated by 3 factors: “laying the foundation” for features that will follow the mainnet launch; providing a buffer against impermanent loss via SushiSwap’s Onsen program; and “restoring some sanity to the Yield market in light of garbitrage”
- The Yield Garden allows used to stake LP tokens and earn YLD as a reward, with a 3x multiplier after 24 days; the entire program lasts 30 days with a 7 day lock-in period
- Garden v2 was launched on Feb. 7, with a mainnet rumored for release in the next few weeks
- Prior to the launch of Garden v2, Yield revealed a YLD token supply dashboard to keep track of the protocol’s dynamic supply