DeFi 'Godfather' Cronje quits as TVL and tokens tank for related projects
DeFi architect, Fantom Foundation technical advisor, and Yearn Finance founder Andre Cronje has left the decentralized finance (DeFi) space reeling after deactivating his Twitter account.
Cronje’s long-time colleague at the Fantom Foundation Anton Nell stated in a Mar. 6 tweet that both he and Cronje were leaving the crypto space entirely. However, concerns have arisen about the fate of the roughly 25 decentralized apps (dApps) and services they have been operating up to now. Fantom Opera is a layer-2 Ethereum scaling solution.
Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space.There are around ~25 apps and services that we are terminating on 03 April 2022. 1/3
Among the affected apps and services are yearn.fi, keep3r.network, multichain.xyz, chainlist.org, bribe.crv.finance, and the new solidly.exchange.
The community’s reaction to Nell’s announcement has been generally sympathetic, as many understand that the duo likely needed a mental break from the immense rigors of their work. Other disgruntled investors have not been so kind with their words as token prices and TVL tanks.
Fantom CEO Michael Kong clarified the consequences of Cronje’s and Nell’s stepping down. Although Cronje was instrumental in founding many projects, Kong said in a Mar. 7 tweet that “these projects are not closing down development. Some of them have been running independently for years.”
The lead developer at Yearn Finance, Banteg, also chimed in to assure users and investors that Andre’s leaving was of little consequence to the day-to-day operation of the DeFi yield aggregator.
People burying YFI, you do realize Andre hasn’t worked on it for over a year? And even if he did, there are 50 full-time people
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