{"id":32415,"date":"2020-11-26T17:26:00","date_gmt":"2020-11-26T15:26:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32415"},"modified":"2025-08-28T08:30:54","modified_gmt":"2025-08-28T05:30:54","slug":"yearn-finance-to-absorb-cream-finance-after-pickle-finance-merger","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/yearn-finance-to-absorb-cream-finance-after-pickle-finance-merger\/","title":{"rendered":"yEarn.Finance to absorb Cream Finance after Pickle Finance merger"},"content":{"rendered":"<p>The founder of the DeFi project yEarn.Finance, Andre Cronje, presented details of the integration with the lending protocol Cream, which operates on the model of the Compound and Aave projects. He said this two days after the merger of yEarn.Finance with Pickle Finance.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Yearn &#038; Cream v2 merger <a href=\"https:\/\/t.co\/0PpqbKOF0P\">https:\/\/t.co\/0PpqbKOF0P<\/a><\/p>\n<p>\u2014 Andre Cronje (@AndreCronjeTech) <a href=\"https:\/\/twitter.com\/AndreCronjeTech\/status\/1331845325846405120?ref_src=twsrc%5Etfw\">November 26, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The aim of the collaboration is to launch Cream&#8217;s second version of the protocol. The development teams will implement additional functionality to enable interaction between the two projects.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/yearn-finance-to-launch-decentralized-lending-protocol-stablecredit\">Announced<\/a> yEarn Finance&#8217;s lending protocol StableCredit, which employs stablecoins and the automated market maker mechanism, will later be launched on Cream.<\/p>\n<p>In contrast to the merger with Pickle Finance, governance and token economics of Cream will remain unchanged. yEarn Finance and Cream will remain largely independent. It would be more accurate to say they have a close partnership rather than a direct merger.<\/p>\n<p>The Block analyst Larry Cermak believes that talk of an acquisition could only arise if Yearn Finance buys a large number of Cream governance tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Not really sure this can be considered an acquisition. More like applying synergies across protocols. Until Yearn starts buying out majority of tokens that it can use to control governance<\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1331846328914210822?ref_src=twsrc%5Etfw\">November 26, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Cronje&#8217;s initiative to merge with Pickle Finance did not enthuse everyone. Analyst Chris Black expressed bewilderment that the issue had not been put to a community vote.<\/p>\n<blockquote>\n<p>\u201cAndre basically made it clear that governance tokens are \u2018useless tokens\u2019 that people buy for some reason,\u201d he stressed.<\/p>\n<\/blockquote>\n<p>In an interview with <a href=\"https:\/\/cointelegraph.com\/news\/yearn-finance-announces-another-merger-with-the-cream-lending-protocol\" target=\"_blank\" rel=\"noopener noreferrer\">Cointelegraph<\/a>, Black said that today\u2019s news would most likely be framed as \u201cbusiness development and integration.\u201d He recalled that in August holders of YFI provided the core team with similar powers, he recalled.<\/p>\n<p>The motivation behind the merger with Pickle Finance was the developers&#8217; desire to help the project after a loss of $19.76 million. On November 21, an unknown attacker withdrew this amount in the Compound DAI (cDAI) stablecoin from one of Pickle Finance&#8217;s smart contracts via fraudulent swaps and a malicious storage.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founder of the DeFi project yEarn.Finance, Andre Cronje, presented details of the integration with the lending protocol Cream, which operates on the model of the Compound and Aave projects. He said this two days after the merger of yEarn.Finance with Pickle Finance.<\/p>\n","protected":false},"author":1,"featured_media":32416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1235,1869],"class_list":["post-32415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-mergers-and-acquisitions","tag-yearn-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32415"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32415\/revisions"}],"predecessor-version":[{"id":32417,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32415\/revisions\/32417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32416"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}