SushiSwap is eating into Uniswap’s market share following Yearn merger
Since merging into the Yearn ecosystem, the sometimes controversial decentralized exchange SushiSwap has been consistently eating into Uniswap’s dominance of the sector. Following its merger into the Yearn ecosystem, SushiSwap has been making significant inroads into the market share of leading decentralized exchange Uniswap. On Jan. 29, Messari researcher Mira Christanto tweeted data illustrating that Uniswap’s share of the Automated Market Maker sector has declined as Sushi’s share expanded from mid-December until last week. Relative market share of AMM Dexes: MessariChristanto asserts....
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Yearn Finance is eyeing yet another merger – only this time, the candidate, SushiSwap, has a larger market size than Yearn itself.
Uniswap’s growth lead, Ashleigh Schap, has slammed Yearn Finance founder Andre Cronje for complaining about forked projects in the DeFi sector. Uniswap growth lead Ashleigh Schap has slammed a recent article from Yearn Finance founder Cronje that criticized forked protocols in the DeFi space, with Schap describing Yearn’s recent merger with SushiSwap as validating a "stolen DApp". Cronje’s Jan.12 blog post, "Building in DeFi sucks," complained about the risk of competitors forking his code, and combining such with attractive tokenomics in a bid to siphon away users from the products that....
Improving fundamentals and a major merger with Yearn.finance may help SushiSwap reassert itself as one of the dominant DeFi platforms. The price of SUSHI, the native token of SushiSwap decentralized exchange, has rallied 38% in the past 10 days. At its monthly peak, the governance token had achieved a 75% price increase but the recent 10% pullback in Bitcoin price has weighted on SUSHI's price action. One of the primary factors underpinning SUSHI's bullish price action was a strong relief rally in the decentralized finance sector following an extended correction that dominated the month of....
Yearn “acquisitions” dominated headlines this week. The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment.Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another protocol primarily dealing with yield optimization; and as the most significant of all, SushiSwap, the decentralized exchange born as a Uniswap parasite.The Yearn ecosystem....
YFI token holders will vote on some aspects of the integration. The flurry of Yearn.finance (YFI) “mergers” continues as the project announces the tightest DeFi integration yet, this time with SushiSwap (SUSHI), the decentralized exchange that began its life as a Uniswap fork.Announced by Yearn founder Andre Cronje on Tuesday, the collaboration involves a variety of synergies between the two ecosystems and other projects launched by Cronje.Like with previous integrations, the two teams will merge development resources and integrate their liquidity pools to increase the total value locked.....