Defi Godfather Andre Cronje, a Defi developer, architect, technical adviser for Fantom Foundation, and the founder of Yearn Finance confirmed that he will be stepping down from all the associations of Defi space. This news was confirmed on Sunday by Anton Nell over a tweet. Anton Nell expressly deciphered that both Andre Cronje and Anton Nell are putting out their end to contribute any further to the Defi/crypto space.
This decision induces approximately 25 DApps (decentralized application) and chances are more that each would be brought down. In addition to this, various services and apps would be affected by the resignation of Andre Cronje, namely, yearn.fi, keep3r.network, and even newly launched solidly exchange.
In light of Cronje’s decision, the CEO of Fantom, Michael Kong, and lead developer at yearning finance, Banteg, strongly ensures the crypto community that the left of the duo would definitely affect a few aspects but would not necessarily imply that the apps and services would stop. In the Twitter comments, the entire community was quite sympathetic towards Cronje and Nell.
It was observed that the price of both Yearn Finance and Fantom crashed up to 10 and 20 percent respectively. However, the Yearn TVL (total value locked) deciphered a stable value at 3 billion dollars; Fantom TVL depreciated up to 40 percent at the start of this March.
Solidly Exchange Shall Stay Alive Without Andre Cronje
Andre Cronje has deleted all his tweets from the Twitter account and has made it clear enough that he was prepared to leave the Defi space. But, the primary dilemma that currently haunts the crypto community and probably is the reason for the price crash of Yearn and Fantom is who will be handling the Solidly Exchange project?
Dani Sesta who is a core member of TIME and MIM has been signed for marketing needs for the Solidly project. However, Sesta eventually had to set his foot down and Defi Edge was compelled to comment that it actually is not a big deal, a developer signed in for working and now is resigning, that’s it!
