On the 30th of November, Yearn.Finance announced a new partnership with DeFi lending and savings protocol Akropolis. According to a Cointelegraph report, the joint venture will offer yield optimization and uncollateralized loans. The report added that according to Akropolis, referring to the partnership as a merger “is a bit of misnomer.”
The most recent partnership is one of Yearn. Finance’s several collaborations over time. On the 26th of November, Yearn.Finance founder Andre Cronje said in a blog post that the protocol has merged with Cream Finance to launch Cream v2.
Similar to the partnership with Cream.Finance, Yearn.Finance and Akropolis revealed in an announcement that the two parties would continue to operate independently regarding their native token and other services.
Developers from Yearn.Finance and Akropolis will work together to share expertise. The announcement noted that Yearn would offer its tools for Akropolis developers to build strategies. Also, Yearn Protocol will have access to Akropolis’ expertise and institutional contacts.
In addition, Akropolis will also demote its two other products that are not associated with yield generation. The products are AkropolisOS and Sparta. Akropolis plans to transfer the products into open source development mode.
Furthermore, the announcement unveiled Akropolis’ plans as a result of its recent hack. Akropolis is planning to launch an IOU token to trace all losses from the hack.
Image Credits: Pixabay
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