Against the background of the departure of Andre Krony from the industry, the price of the YEARN Finance token fell by 11%
Fantom Foundation Senior Architect Anton Nell and the host of the Defi ecosystem developer, and part-time founder of Yearn Finance Andre Kronier decided to leave the cryptocurrency industry.
“Unlike previous angry statements like“ Development of Defi – sucks ”, this is not a kneeling reaction to criticism received after the project, but a decision that we have already reflected for some time. Thanks to everyone who supported us for the past few years, ”Nell wrote.
According to him, they will cease to cooperate on 25 projects, including Yearn Finance, Multichain and the recently launched Solidly Exchange. Probably for some of these products, the career care will be closed by closing.
Solidly Exchange has already warned users that from April 3, 2022 they will lose access to the service.
“The source code is open, anyone who wants to continue the hosting of this service is welcome,” the notification says.
Within two hours after Nella’s announcement, the price of a Trust Wallet expands guide token decentralized exchange collapsed by 66%.
Solidly Exchange launched in February rapidly gained popularity among users of the ecosystem Fantom. As early as 17 days after the opening of the service, the volume of funds blocked in its smart contracts (TVL) exceeded $ 2.21 billion.
At the time of writing, the last indicator is estimated at $ 0.99 billion, according to Defi Llama.
A sharp decrease in TVL is observed after numerous users’ messages about the loss of funds from the liquidity of the exchange. Despite the complaints, Cronier insisted that there were no mistakes in the code base of the project, and a few days ago he deleted his account on Twitter.
I Just Solidly to Exchange $ 24k USD to FTM … showing 1.62 FTM Per Usd and Set at 2% Slippage …. And Receved 390 FTM Rather than the 15k I Was Expecting …. SO 25K Just Turned Into $ 600
Against the background of Nella’s announcements, the prices of tokens and other projects that Crinier worked on were collapsed. For example, the cost of Yearn Finance (YFI) fell by 11%in a few hours, Multichain (Multi) – by almost 20%, according to Coingeco.
The leading developer of Yearn Finance under the nickname Banteg noted that users are in vain “burying” the project.
PEOPLE BURYING YFI, YOU Do Realize Andre Hasn’t Worned Over Aver A Year? And Even If He DID, There Are 50 Full-Time Pekle and 140 Part-Time Contributors to Back Things Up.
– Banteg (@bantg) march 6, 2022
“People who bury Yfi understand that Andre has not been engaged in the project for more than a year? And even if he was engaged, there are 50 people at a full stabi and 140 people who can support the development, ”he wrote.
Recall that in October 2021, the developers of YEARN Finance found a vulnerability in the smart contract of the Robo Vault project, which potentially could cost it about $ 50 million.