Andre Cronje and Anton Nell Announce Their Exit From Crypto

Anton Nell took to Twitter to announce that he and Andre Cronje have decided to leave the Crypto space. Both of them will be terminating applications and services that are related to them tentatively on April 03, 2022.

The announcement has led to a downfall in FTM, YFI, and SOLID. Contributors are doing their best to fix the damage. Anton Nell’s announcement is surprising as he stated no reason for quitting the crypto space.

The Fall

A reason could have probably prevented such a huge downfall of FTM, YFI, and SOLID. Since the announcement over Twitter, FTM has gone down by 15% to exchange hands at $1.42.

YFI, on the other side, is down by approximately 13%. It is now being traded at $17,000 as compared to the earlier value of $20,000. SOLID, a project that was launched last week, has also witnessed a downfall of 64.73%. It now carries a value of $1.13.

The announcement that led to this downfall stated that Andre and Anton had decided to close the chapter of contributing to the DeFi/crypto space. It added that around 25 apps and services would be terminated on April 03, 2022.

Some of the websites that would cease to exist are keep3r.network, yearn.fi, multichain.xyz, solidly.exchange, chainlist.org, and bribe.crv.finance.

After a fall in the trading values of the projects, the contributors are trying to fix that damage that has been caused by the surprise announcement.

banteg, a yearn developer, published a tweet informing that the team had 50 full-time and 140 part-time contributors to back things up. He posed a question as well, asking if everyone knew that Andre Cronje had not worked on YFI for over a year.

James Hancock, a former Ethereum developer, talked to the media. He issued a statement saying that till the time contracts were immutable or did not require approval from Andre Cronje for changes, they would continue to work in the same fashion in which they were deployed.

He added that Andre Cronje and Anton Nell were only terminating those web pages which were plugged into those contracts.

Some, however, expressed different opinions.

Wassie Capital, a pseudonymous DeFi investor, claimed to be seeing the last puffs, adding that the departure of Andre Cronje was a big deal as it was only because of him that so many people entered into the Fantom ecosystem.

Miroyato, another pseudonymous DeFi investor, said that he/she felt rugged in terms of communication, under the impression that only ‘websites’ would be terminated. Miroyato added that the departure would be a great test of robustness for DeFi open-source software.

Andre Cronje has a history of quitting DeFi temporarily. He has often quoted pointless trying to be a builder in this space and so sick & tired of this space.

Anton Nell has clarified that it’s not a rage-quitting scenario, and both are out for good.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button