Well-known DeFi developer Andre Cronje has left the industry. Yearn.Finance and Keep3r developer Andre Nell shared the news of the legendary developer’s departure on Twitter. With the spread of the decision on social media, 3 altcoin projects associated with the developers fell in a short time. As Kriptokoin.com, we are giving the details…
Andre Cronje left, this is 3 altcoin crashed
In the announcement during the day, Andre Cronje announced that a total of 25 decentralized financial applications (dapps) will be closed, effective from April 3. Abandoned startups include Yearn.Finance, Keep3r Network, Solidly, and more protocols. Following the announcement, the price of YFI fell by about 13%, but has since rebounded some of its losses.
The total locked value (TVL) of the Phantom (FTM) protocol has decreased by $3.35 billion since March 3, which is thought to be linked to Cronje’s departure. Phantom (FTM) has likewise lost more than 13% of its value in the last 24 hours.
The biggest loss was Solidly (SOLID) with the news of separation. Despite the fact that the project will continue to run, SOLID has lost nearly 70% of its value in just one hour.
Explanations of other developers and projects on separation
Cronje’s resignation was first posted on Twitter on Saturday, updating its LinkedIn page, now the Phantom Foundation, Yearn.Finance or not employed by Ethereum. Cronje published a blog article titled “Building on DeFi sucks” in January. Andre Nell says that Cronje is pretty serious about resigning:
Unlike previous “awful to build” outrages, this is a decision that has been coming for a while, not a sudden reaction to the hate for releasing a project.
Phantom’s comments were:
While we appreciate all that Andre has done for crypto, Phantom is not a one-man show and nothing There was no time… Phantom is one of the most popular and loved DeFi networks in the world because of its collaborativeness. Hundreds of engineers work on Phantom every day, and more than 100,000 unique addresses use it. Andre was not a core developer at Phantom, contrary to popular assumption… Andre’s choice will have no bearing on Phantom’s progress. Big things are on their way as planned.
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