Post-DeFi Thoughts from Andre Cronje: "I did not develop for speculators, LBI did not fail"

Yearn developer Andre Cronje has been a prominent figure in the DeFi community, but went silent for a while after the low-profile project Eminence EMN was hacked. Besides sharing new development designs with a new account recently, he also published his thoughts on developing DeFi today, 15. Despite the significant profits many have made, he stated, "I did not develop for speculators." Regarding the sharp drop in the token LBI based on the new design, he believes it does not represent a failure.

Not Done for Speculators

Andre Cronje stated that he has experienced many failures, all of which were to validate concepts in practice rather than for numerical growth. The core goal is to enable developers to easily use the templates he has developed to create products. He has always been concerned about the inappropriate incentive mechanisms that speculators participate in.

He also mentioned that people treat tokens as stocks, but in DeFi, it is just a coordination mechanism. He also expressed that the concept of community should consist of contributors, rather than being divided into teams and communities.

Explaining the Value of Projects

He often says that developing certain projects is to test the product, but this does not mean that he did not test it beforehand. Saying this is just to make people more cautious. The smart contracts of EMN are still in his regular testing cycle and are currently in the fifth phase.

LBI is still operating as expected. Andre Cronje mentioned that he will use it to demonstrate how to create products using templates. He believes that the sharp drop in LBI is the best example of people confusing price with functionality. A rational participant should not rush to buy LBI on Uniswap, leading to inflation and price collapse, which also makes everyone think it has failed. Andre Cronje said he is still studying LBI and hopes it will become a larger product foundation and part of yearn.

Finally, he stated that compared to three months ago, there are more things he and the team need to build. He also believes that the conflicts currently existing in this circle are not technical but human-made conflicts, and they also hope to clarify these issues. He does not think Ethereum will disappear, and he and other developers will not stop their development work.