Andre Cronje, a prolific decentralized finance (DeFi) developer, has returned to the altcoin space after abruptly leaving the industry last month. Before DeFi investors rejoice, Cronje says he’s not interested in pioneering new tokenomic models or starting triple-digit yield farming. Instead, he seems to have set his sights on a calmer space – the regulated crypto space.
Andre Cronje returns to the altcoin ecosystem
In a blog post published Tuesday, Cronje announced that he and his unnamed collaborators are working on several projects focused on crypto compliance and regulation. The list includes areas such as compliant custody products, risk reporting, and government-backed national blockchains. “Instead of trying to fight regulatory agencies over crypto regulation, we should try to engage and educate regulated crypto,” Cronje wrote, adding that it will be one of the main goals of established institutions.
Cronje’s new focus is a far cry from previous DeFi projects, which include dozens of other platforms such as Solidly and Yearn Finance. While their projects are deployed on several different layer-1 blockchains, Cronje has had a reputation for creating protocols that allow DeFi participants to take more risks and present complex tokenomic models for higher returns. On March 6, Cronje collaborator Anton Nell tweeted that the couple would “close the era of contributing to the DeFi/crypto space.” Since then, Cronje has been out of the limelight, as we reported on Kriptokoin.com.
Cronje focuses on regulated space
Cronje’s new interest in regulation seems to reflect its new perspective towards the entire industry. In a previous blog post published on Monday, Cronje took a veiled criticism of the DeFi market, saying that the cryptocurrency “repeats” the mistakes of previous monetary policymakers. The DeFi movement started with a group of crypto developers who wanted to create a new, unreliable financial system that solved many of the problems they saw in the old financial system. Now, Cronje is unsure if crypto can better build it, saying the complexity of monetary policy “exists for a reason.”
6855
