Clarifying 2020 Mergers; An Independent Iron Bank

In late 2020 Yearn Finance announced several “mergers” with the goal of bringing leading DeFi projects together, creating an ecosystem focused on critical infrastructure: AMM (SushiSwap), Lending (C.R.E.A.M. Finance), Institutional support (Akropolis), and Yield Management (Pickle Finance).

As an ecosystem, we learned and supported each other over the past ~15 months and enjoyed strong collaboration across teams, achieving many successes.

Despite our shared success, we never became a truly merged entity. This has caused confusion within our respective communities, uncertainty in roles and responsibilities, and slowed decision making.

Moving forward, each protocol will operate independently while remaining strong collaborators and good friends with Yearn and each other.

We are excited for what the future holds.

The Iron Bank will also operate as an independent project with its own communication channels and frontend, while continuing to serve as a liquidity partner to Yearn Vaults. This decision provides the clarity that our communities need while enabling everyone to make decisions and move forward more quickly to build the future of DeFi.

Users should go to each project’s respective social media channels for official announcements.

Sincerely,
Yearn Finance, SushiSwap, C.R.E.A.M. Finance, Akropolis, Pickle Finance, Iron Bank