{"id":480830,"date":"2022-01-11T18:00:18","date_gmt":"2022-01-11T18:00:18","guid":{"rendered":"https:\/\/www.wncen.com\/?p=480830"},"modified":"2022-01-11T15:04:21","modified_gmt":"2022-01-11T15:04:21","slug":"yearn-finance-creator-to-launch-new-amm-what-its-all-about","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/defi\/yearn-finance-creator-to-launch-new-amm-what-its-all-about\/","title":{"rendered":"Yearn Finance Creator To Launch New AMM, What It’s All About?"},"content":{"rendered":"
Famous for his motto \u201cI test in prod\u201d, Andre Cronje, inventor of Yearn Finance and other DeFi protocols, will launch a new platform. Called ve(3,3) it has been designed as an Automated Market Maker (AMM) to operate with a \u201cprotocol for protocols\u201d architecture.<\/p>\n
Related Reading | Solana DeFi Goes Stratospheric as Hubble Protocol Announces $3.6M Raise<\/a> In other words, this new AMM will be easy to integrate with other platforms to incentivize their own liquidity and without tradeoffs. The protocols that decide to add ve(3,3) won\u2019t lose fees, volumes, or liquidity, as the creator of Yearn Finance explained in an official post<\/a>.<\/p>\n Cronje believes AMMs utility has undergone a change, from primarily serving as a tool for liquidity providers to serving as an addition to projects. Thus, ve(3,3) seeks to meet the demand of AMM\u2019s new users; other protocols.<\/p>\n His new project, ve(3,3), will remove friction from the process of adding token incentives to a protocol\u2019s liquidity, will make it simpler for projects to accrue fees from incentives, and will operate as a permissionless platform. The Yearn Finance developer said:<\/p>\n With the above in place, any protocol or project can easily incentivize their own liquidity, be it for their token, their stable coin, or even other derivatives, and while doing so, they fully accrue fees.<\/p><\/blockquote>\n Cronje\u2019s new protocol will have multiple features, including the capacity to natively support swaps between closely correlated assets, and uncorrelated assets, Uniswap v2 compatibility<\/a> which will let projects deploy its interface, the possibility to permissionless create pools, gauges, and bribes.<\/p>\n In addition, the protocol will operate with a 0.01% fee to be paid in base assets. Cronje\u2019s protocol for protocols will let other platforms support delegation, increase \u201choldings proportional to emission\u201d, and conduct locks with capital efficiency, amongst many other features.<\/p>\n As an additional incentive for projects to implement Cronje\u2019s protocol, the platform will reward them with ve(3,3) tokens. Those projects that occupy the top 20 by total value locked (TVL)<\/a> will receive these rewards two weeks after the protocol launches.<\/p>\n The launch could take place next week, as Cronje announced via Twitter. By the end of next week, the platform will take a snapshot to determine the projects that will receive a percentage of the 2,000,000 ve(3,3) available for rewards. Cronje added:<\/p>\n It is up to them (the selected projects) to decide what they will incentivize, be it their own token, stable coin, or other liquidity. The timeline for this will thus be 2 weeks post protocol launch until distribution starts.<\/p><\/blockquote>\n https:\/\/twitter.com\/AndreCronjeTech\/status\/04747012<\/p>\n As of press time, Yearn Finance native token YFI trades at $32,139 with a 2.7% profit in 24-hours.<\/p>\n Related Reading |<\/strong> Yearn Finance Launches New Vault, While YFI Retakes Bullish Momemtum<\/a><\/strong><\/p>\n
\n<\/strong><\/p>\nYearn Finance Inventor To Take AMM Utility To Its Next Phase?<\/h2>\n