Yearn Finance, a well known decentralized finance protocol, has announced its partnership with Pickle Finance. According to the firms, the partnership will boost the yield farming incentives. Pickle Finance has recently gone through an exploit due to which it has lost around $20 million. Additionally, the partnership will also compensate those victims who have lost their funds in this exploit. Yearn Finance believes in reducing duplicate work through the partnership, which will also leverage shared expertise. The total value locked (TVL) in both protocols will be merged, and this is going to be the first step into this partnership. Yearn Finance Planning to Onboard Pickle Developers Pickle Finance is a company which incentivizes the farmers to sell and buy the stablecoins under some conditions. The main goal of the partnership is to boost up the returns of all the yield farmers. It is revealed that Yearn Finance is planning to bring Pickle developers into this partnership. This will help the protocol to build up new strategies along with a fee structure for the new vault. It is also specified that all those users who stake Yearn vault tokens, will be getting reward Gauges by Pickle. Yearn Vaults Does Not Require Voting As a result of the partnership, Yearn Finance plans to introduce Yearn Vaults, but a question is raised about its voting. To this, it is replied that Yearn Vaults are completely permissionless, hence, there is no requirement of voting. Now to compensate the victims of Pickle’s recent exploit, a new token called CORNICHON will be created. It will help in tracking the losses in the attack and will compensate the victims according to their investment in the same. Along with the boost in DeFi protocols, it has also fallen victim to a lot of attacks and hacks, which had led to some huge losses.
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