According to the colleague Anton Nell, Prolific developer Andre Cronje has quit decentralized finance (DeFi). Cronje has a history of temporarily rage-quitting DeFi. But, Nell clarified that the latest decision “is unlike previous building in DeFi sucks rage quits, this is not a knee-jerk reaction to the hate received from releasing a project, but a decision that has been coming for a while now.”
Most notiblyhttps://t.co/SJhS8JI2fT (use https://t.co/dIf7HllUKH)https://t.co/XY0GDeJy9T (use https://t.co/uUK45iz2fx)https://t.co/KYFr6KkGZb (use https://t.co/Z3EldYg0wj)https://t.co/J813DMXTdb (lots of people replacing it)https://t.co/wOnlLnBztJhttps://t.co/WOipmCRr9o
2/3— Anton Nell (@AntonNellCrypto) March 6, 2022
Andre Cronje Leaves Defi
“My code has no proxies, no human components, no admin functions, no DAO control, no multisig or timelocks, its pure, simple execution… Code has no trust assumptions; only humans do.”
Andre Cronje
So said Andre Cronje at the end of January on the very day that MIM was losing its peg after adding:
“I often speak about protocol to protocol, or robot to robot, I use to believe what we are building wasn’t for humans, it was for machines, a new machine currency, a way for our future machine overlords to transact, a mechanism that can exist long after we are extinct. I still believe this, but I have strayed.
In longing for acceptance, I started looking towards community and comradery. I wanted to belong… I need to revisit my motivations.”
Now Anton Nell of Fantom says he and Cronje are quitting. Not a “rage quit” but “a decision that has been coming for a while now.”
The applications that function as DeFi protocol front-ends will be discontinued by Cronje and Nell, including yearn.fi, keep3r.network, multichain.xyz, chainlist.org, solidly.exchange, and bribe.crv.finance.
Cryptocurrencies associated with Cronje’s projects, such as Fantom (FTM) and yearn.finance (YFI) dove sharply after the surprise announcement. YFI plunged 13% from almost $20,000 to $17,000. Fantom (FTM) was down 20% over the past 24 hours, trading at $1.36 as of this writing. Solidly (SOLID), which only launched last week, has fallen 53% over the past day, now worth $1.58.
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