Top DeFi, Fantom Technical Consultant, and Founder Yearn.finance ‘Andre Cronje’ has retired from DeFi.
On Sunday, Andre’s colleague Anton Nell at Fantom tweeted that both he and Andre would be leaving the crypto industry fully. All 25 projects of dApps and services will be disabled on April 3.
In 25 projects that will include yearn.fi, keep3r.network, multichain.xyz, chainlist.org, bribe.crv.finance and solidly.exchange. as well
The community sympathized with both Cronje and Nell, speculating that they wanted to take a break from their long hard work.
Fantom’s CEO, Michael Kong, tweeted that while Cronje had set up several projects, “these projects haven’t stopped developing. And some projects have even developed themselves over the years.”
Meanwhile, Banteg, the chief developer of Yearn.finance Another person who has confirmed to users and investors that Andre Croje’s retirement is not important. He also tweeted that Andre hadn’t worked in the area for a year and that even if he did, 50 full-time plus 140 part-time employees were always on hand.
After tweeting Anton’s retirement into the eyes of the netizens coin price of yearn.finance and Fantom like ‘YFI’ and ‘FTM’ suddenly plummeted. The price of YFI is down 10% to $18,187, while FTM is down 20%, now $1.33 per coin (according to CoinGecko at the time of writing the original article).
While Yearn’s TVL remains at $3 billion, Fantom’s TVL has dropped 40 percent since March 3 to $7.16 billion, and Cronje’s latest project, Solidly’s TVL, dropped. It has plummeted to 68% since last Thursday. Today, only 735 million US dollars are left. (According to information on the DefiLlama website at the time of original article writing)
Andre is an influential figure in DeFi. His role in the crypto space is so great that market analysts like The DeFi Edge have tweeted about Andre’s retirement, calling him a “Godfather.” of the DeFi industry” as well on Sunday.
Andre hinted at his retirement by completely deleting his tweet last week. This was followed by the permanent deletion of the Twitter account.
Plus, it’s been reported that Dani Sesta, a lead member of Wonderland (TIME) and Abracadabra.money (MIM), has signed a marketing contract for Andre’s latest project, Solidly.
However, Sesta had to withdraw from Solidly to deal with Wonderland’s problems first, and with Andre being the mainstay of the Solidly project by default, it might have been too heavy and stressful for him, like The DeFi Edge. Tweeted that:
“Rug pull? Not at all as far as i see Well, he’s a developer who wants to develop projects. It wasn’t for the drama and all these crap. He had reached the point where it was not worth it anymore.”
refer : LINK