Akropolis Merges With Yearn; Joining forces to develop DeFi faster
Akropolis and Yearn announced a merger to join forces in the development, specialization of services and improvement of its presence in the sector DeFi. According to their announcements, the Akropolis merger did not need government approval because they are two open source networks that will simply combine their efforts.
More collaboration in DeFi Secor
Mergers and partnerships in the DeFi sector play a vital role in the overall growth of the industry. Teams can share their expertise, which translates to faster developments. Additionally, participants can maintain their service area while helping each other.
Yearn.Finance announced the merger first. According to the blog post:
“Yearn and Akropolis employees join forces to capitalize on each other's strengths and allow each team to become more specialized and focus on what they do best. Yearn will continue to develop best-in-class lending and storage protocol solutions. Akropolis becomes their first-hand institutional service provider, offering personalized access to its network of clients, with investment strategies tailored specifically to them.
The announcement says the Akropolis and Yearn teams will continue to work on their focus areas. But after the merger, they will serve multiple parts of the industry by focusing on one specific part.
One of the essential results of the merger between Akropolis and Yearn is that they will merge development resources. In addition, Akropolis will have access to Yearn, Pickle and Cream products. They will also be able to integrate their DCA solutions into those products. On the other hand, Yearn will have access to the new investment strategies of Akropolis.
The Akropolis team has been very active in connecting with institutional clients. They also have considerable experience in business development, which can certainly help Yearn.
There will be new vaults, institutional applications, strategies and a token to track losses after the merger between Akropolis and Yearn. According to the Yearn blog post:
“Akropolis became the institutional service provider for the combined Yearn & Akropolis suite of products. The new Akropolis application will offer institutional clients personalized services that integrate Cream v2 and result in additional revenue streams to the Akropolis protocol.
The new close partnership between Akropolis and Yearn shows the synergy in the ecosystem to complete their services. These two are combining their products and will surely be able to serve a wider user base. The Akropolis team is very optimistic about the recent merger and hopes that the new partnership will result in better performing products for the industry.
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