Yearn Partner Roundup #1

Week Ending December 13, 2020

Welcome to the Yearn Partner Roundup — a weekly newsletter summarizing everything in Yearn‘s partner ecosystems.

🍣 SushiSwap Summary

SushiSwap is an automated market making (AMM) decentralized exchange (DEX). Link.

• SushiSwap volume increased by $1.1B in November. While DEX volume dropped -15.8% across all exchanges, with both Uniswap and Curve impacted the most, SushiSwap’s volume continued to rise.
• Yearn x Sushi — Treasury vote passed. This proposal adds YFI to the SushiSwap treasury with the following allocation: 60% SUSHI, 20% USDC+ DAI, 10% ETH, 5% YFI, 5% BTC (tBTC-renBTC-wBTC).
• Introducing Onsen. Onsen is SushiSwap’s new liquidity mining incentivization program, a replacement of the Menu of the Week initiative intended to bring positive long-term liquidity changes as well as ensure stability of the platform. Full details here.
• Quantstamp begins SushiSwap audit. They’ll be auditing a new settlement feature (limit orders) and Bento Box, which allows for margin shorts, lending, and flexible oracles.
• Treasury multsig migrated from Gnosis v1 to Gnosis Safe. The change was approved by the treasury multisig holders and the new treasury address can be found here.
• Proposal to add new developer to core team. Clearwood, a developer working on BentoBox, has made a proposal outlining his intention to work on SushiSwap full time. Details are in discussion here.

🔒 Keep3r Summary

Keep3r Network provides a way for protocols to post ‘jobs’ — or smart contract call requests — to ‘keepers’ — or those willing to perform those tasks. Link.

• KP3R is now available on OKEx. Spot trading for the pairs KP3R/USDT, began on Dec. 9 along with spot trading for KP3R/ETH.
• Keep3r integration with Yearn’s V2 vaults. In short: Keepers can signal a Strategy to update or adjust its position(s) and signal to take profits and report to the Vault.
• What I did to pay keepers working on the Hegic Options Keep3r job providing liquidity. In this thread, Carlos Sessa expands on his blog post: The Keep3r Network Experiment.

🍦 CREAM Summary

C.R.E.A.M. Finance is a peer to peer lending and exchange platform on Ethereum and Binance Chain. Link.

• Initial implementation for Cream v2 is available now. DAI, WETH, and y3Crv are available for borrowing and lending.
• Collateral Factor for DAI has increased from 0% to 75%. This proposal passed with 100% support on Dec. 6 and was executed on Dec. 7.
• Cream’s Eth2 staking service now has ~19k ETH deposited, earning 13.91% in $ETH terms. Cream users can stake ETH and also use this staked position (CRETH2, the proof token) as collateral on the Cream to borrow assets. More info here.
• Cream Swap is available on DeFi Pulse.

🥒 Pickle Finance Summary

Pickle Finance makes it easy for you to earn compounding yields on your deposits. Link.

• PICKLE is now available on OKEx. Spot trading for the pairs PICKLE/USDT, began on Dec. 9 along with spot trading for PICKLE/ETH.
• Into the Brine Vol. 4 is out. This volume covers the Yearn collaboration and Pickle’s smart treasury implementation.
• Pickle’s smart treasury is in final stages of implementation. The smart treasury uses fees generated from the protocol to buy back PICKLE, serves as a liquidity provider and can generate trading fees for the protocol, and facilitates the secondary issuance of PICKLEs (separate from Farms). This is enabled using a Balancer smart pool.

🛡️ Cover Protocol Summary

A peer-to-peer coverage market. Link.

• Yearn’s initial implementation of Cover is live. You can now buy coverage for a variety of protocols through the Yearn UI.
• Shield Mining Rewards Update #2. TLDR: Cover adjusted the ratio of rewards to CLAIM/NOCLAIM pools from 30/50 => 5/75.
• Vote: Add shield mining rewards to Nexus Mutual. Cover Protocol will be launching coverage for Nexus Mutual later this week, and this snapshot vote is to determine how much $COVER rewards should be allocated to shield mining for Nexus Mutual. Vote closes Dec. 13, 2020.
• Re: Basis Cash Shield Mining Incentivization vote passed. The http://Basis.Cash shield mining rewards will be transferred to a future protocol. This will allow Cover Protocol to incentivize a more stable TVL with more active users.
• A proposal to add shield mining rewards to Perpetual Protocol passed. This proposal decided whether or not to incentivize shield mining for Perpetual Protocol with $COVER rewards. Perpetual Protocol is a decentralized perpetual contract protocol for every asset, made possible by a Virtual Automated Market Maker. More info here.
• Claim filed on 12/5/2020 for BadgerDAO was rejected. The filing fee of 10 DAI has been sent to treasury. To prevent false/spam claims, Cover will be adjusting the filing fee from 10 to 50 Dai (refunded if claim is validated).
• Request to add Cover’s SushiSwap LP Pool to Zapper. The feature would help Cover’s community track their COVER-ETH SushiSwap LP token, which is staked in the Shield Mining Portal.
• Cover has crossed $30M total value locked.
• COVER is now available on OKEx. Spot trading for the pairs COVER/USDT, began on Dec. 9 along with spot trading for COVER/ETH.

🏛️ Akropolis Summary

Decentralized and autonomous community economies — lending and pensions made simple. Link.

• Akropolis Co-Founder and Head of Operations, Kate Kurbanova, held an AMA in the Binance English Telegram group.

Disclaimer: These updates are non-exhaustive and not meant to be representative of all the happenings in the ecosystems mentioned. The goal of this newsletter is to provide key insights for Yearn community members.

👋 Reach out to me on Twitter if you have any comments or suggestions.