Yearn.Finance founder Andre Cronje introduces new DeFi protocol 'Deriswap'

Andre Cronje, the founder of the popular decentralized finance (DeFi) protocol Yearn.Finance, has introduced a new project.

Dubbed Deriswap, Cronje’s new protocol combines different segments of DeFi — swaps, options, and loans — into one platform.

“Deriswap allows for a consolidated, capital efficient market for trading, Options, Futures, and Loans, allowing LPs [liquidity providers] to keep their exposure and enjoy additional fees and rewards,” Cronje said in a blog post published Monday.

Deriswap is currently under audit, and its other details, including a specific launch date, remain scant.

When contacted, Cronje told The Block that more information would be released after the audit of the protocol. The blog post has been published in order to kickstart discussions with relevant builders, said Cronje.

When Cronje launched Yearn.Finance — a yield optimization protocol, in July of this year, it quickly rose in popularity. Yearn’s governance token, YFI, once hit an all-time high of more than $43,000, according to tracker CoinGecko. YFI is currently trading at around $25,000.

It is not clear whether Deriswap will have its own token. Cronje declined to provide details at this stage of the protocol.

AUTHOR

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

See More
Connect on

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on