The exchange rate of yearn.finance (YFI) and some other popular DeFi tokens dropped sharply this Sunday. This happened against the background of the announcement of the departure from the cryptocurrency space of the famous developer Andre Cronje.
Anton Nell, the leading developer of the Fantom Foundation, announced Cronje's decision:
"Andre and I decided to finish the chapter of DeFi/cryptocurrency space support. On April 3, 2022, we will close about 25 applications and services.
The most notable:
yearn.fi (use yearn.finance);
keep3r.network (use thekeep3r.network);
multichain.xyz (use multichain.org );
chainlist.org (many are working on replacing it);
solidly.exchange;
bribe.crv.finance».
Nell also noted that, unlike the developers' earlier emotional statements about the DeFi space and its participants, they thought thoroughly about the latest decision.
"Thank you to everyone who has supported us over the past years," he added.
Cronje's main Twitter account was recently blocked. Subsequently, the account @AndreCronje123 appeared on Twitter, but Nell denied that it belonged to the developer. Shortly before that, Cronje also changed the information in his LinkedIn profile, indicating February 2022 as the end of his work on cryptocurrency projects, including as a DeFi developer of Ethereum.
Although Cronje's exit from yearn.finance does not imply the closure of the project, the market reacted negatively to today's announcement – the YFI token lost about 13% of its value. Fantom (FTM) has dropped by a comparable amount.
"People burying YFI, do you even realize that Andre hasn't worked on it for over a year? And even if he was involved, the project is supported by 50 full-time people and 140 part-time participants," writes Cronje's partner on a variety of banteg projects.