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‘Better as friends’: DeFi protocols Yearn and Cover announce cessation of merger

The relationship is “c-over” between Yearn Finance and Cover, an emotional split related to a new protocol from Cover developers.
Decentralized finance (DeFi) protocols Yearn Finance and Cover have announced today the end of a protocol merger process initiated in November last year. The two protocols were initially linked during a spree of a half-dozen Yearn acquisitions, mergers, or collaborations, the exact term depending on the project. The split comes as a surprise to many, given that Cover, a protocol that provides coverage or insurance for DeFi deposits, was a natural fit for yield vault provider Yearn. The teams had also collaborated in crisis situations in the past, such as when Cover experienced an “infinite mint” hack in late December 2020. We have decided to end the previously announced merger process of Yearn and Cover. Both protocols will continue to operate independently. yVault depositors who have previously purchased Cover protection are unaffected by this.— yearn.finance (@iearnfinance) March 5, 2021
Following the hack of Yearn’s DAI vault earlier this month the team also announced that coverage from Cover would become standard across all vaults. According to Cover core contributor “DeFi Ted”, Yearn will now be moving forward independently with their own insurance offering. Both teams confirmed that users can continue to purchase coverage for Yearn deposits, and that current coverage will be unaffected. Comments from both teams indicate that the cessation was an emotional, potentially snap decision — one rooted in potential conflicts of interest related to Cover’s new protocol, Ruler. Emotional …
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