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Did DeFi Pioneer Leave the World? Commenting on Andre Cronje's Farewell

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Did DeFi Pioneer Leave the World? Commenting on Andre Cronje

Anton Nell Fantom developer and Yearn founder Andre Cronje recently decided to end their chapter in DeFi and the crypto space, no longer leading development and terminating operations or handing them over to existing team members. What factors led these prominent figures in the DeFi world to choose to fade away?

The following content is compiled from The DeFi Edge Twitter, for more details and discussions, please see the original link.

Andre Cronje, referred to as AC, is the deity of DeFi. He and his partners are leaving the DeFi space and terminating the development and operations of several project protocols.

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Is this a Rugpull? What exactly happened?

Here are some of my thoughts:

AC is an introverted person who enjoys being the super brain behind the scenes, but things took a turn when he announced the start of the ve3,3 project.

It was supposed to be:

  • AC in charge of protocol development
  • Daniele Sesta, CSO of Wonderland, aka Daniele, in charge of marketing and hype.

It seemed like a perfect match.

However, in late January, the "Sifu Gate" incident occurred, tarnishing Daniele's reputation significantly, causing him to step back from ve3,3 and other projects to focus on stabilizing Wonderland.

This left AC to handle the SOLID protocol alone. But remember, AC enjoys developing behind the scenes, and now he's the sole spokesperson for this massive project, which means dealing with PR issues, decision-making, and rumors surrounding everything, even though it wasn't his original role.

While many were fighting for a spot in the top 20 on Solidly, some were left feeling angry and confused. Why? Other native protocols on FantomFTM like LiquidDriver are being replaced by newly formed DAOs like weVe.

And when Solidly finally launched, things didn't go smoothly.

  • Some coding errors
  • Confusion
  • User interface dissatisfaction
  • Whales playing their usual games

You can tell AC is getting fed up from these signs.

  1. He announced on Twitter that he would only post memes from now on, no longer valuable insights but just daily memes.
  2. A few days ago, he deactivated his Twitter account.

Then his partner Anton dropped a bombshell: they are leaving the DeFi space and halting all protocol development, causing FTM's price to drop by 15.25% in the past 24 hours.

Is this a RUG?

No. I see a developer working hard to build everything but enduring all the nonsense and rumors. He reached a breaking point where it's no longer worth his effort.

It's really tough as a developer, especially when his income has long been enough to sustain him for several lifetimes, and the market's bearish sentiment makes everyone more critical. Is it worth sacrificing his mental health to continue? No.

What will happen to the protocols he handled?

The price action will undoubtedly be tough, but these protocols will continue to function well because others will pick up the torch, and that's the beauty of DeFi.

What's next for FTM?

Don't overlook the FTM developers; they are the most resilient developers. @LiquidDriver, @beethoven_x, @tombfinance, @spirit_swap, @spookyswap, @tarotfinance, and countless other development teams will continue to build.

While AC and Daniele are talented, DeFi's fate doesn't rest on them; there will be a new generation of builders to innovate. The current situation is dire and vastly different from last year, but the DeFi space is just getting started. Will AC disappear forever? No. People like AC can't stay relaxing on the beach forever; building is his talent and calling, and he will come back sooner or later.

Some speculate they may have made these moves due to legal and regulatory reasons, which is possible. They may be gone now, but who knows, they might return anonymously in a few months?