We do not give personalized investment advice or other financial advice. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. “There’s more multi-chain fun coming soon,” the announcement read.ĭisclaimer: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies. Interestingly, the Yearn team also hinted that it may launch on Arbitrum, Optimism, Polygon, and Avalanche in the future. The announcement that Yearn is expanding to other chains marks a significant development for the protocol going forward. Unlike other DeFi protocols, Yearn has previously taken a more conservative approach to development, opting to build out its existing products with a laser-like focus. Since then, it has maintained its status as a DeFi blue chip and is currently the ninth biggest DeFi protocol with over $5.3 billion in total value locked according to DeFi Llama. Yearn Finance was one of the first DeFi protocols to launch at the start of last year’s “DeFi summer,” quickly becoming one of the most popular yield aggregation platforms on Ethereum. So far, users have deposited over $49 million to vaults on the Fantom network. With Yearn’s launch on Fantom, users can initially deposit funds into vaults for wrapped Fantom and the stablecoins DAI, USDC, and MIM. Thank you to everyone that suppoerted us over the past few years.Yearn Finance lets users deposit crypto assets into vaults and scours DeFi protocols looking for the best yields available on each asset. Unlike previous “building in defi sucks” rage quits, this is not a knee jerk reaction to the hate received from releasing a project, but a decision that has been coming for a while now. As to whether or not Cronje plans to return, Anton Nell’s thread indicates otherwise:.FTM is also down about 13% in the past 24 hours.The news was met with an instant nuke in YFI’s price, which lost about 13% immediately and plunged to just above $17K from almost $20,000.People burying YFI, you do realize Andre hasn’t worked on it for over a year? And even if he did, there are 50 full-time people and 140 part-time contributors to back things up.
Commenting on the matter was also YFI’s Banteg, who said:.However, Cronje is the one who came up with the protocol in the first place, and it was an iconic move back at the beginning of DeFi Summer in 2020. It’s worth noting that this doesn’t mean that Yearn Finance will stop working in any shape or form.One of the said services is YearnFi – a front-end interface for Yearn Finance (YFI) that Cronje had been working on.There are around 25 apps and services that we are terminating on 03 April 2022. In a Twitter thread on March 6th, 2022, Anton Nell – senior solutions architect at the Fantom Foundation – announced that Andre Cronje and him will quit contributing to the crypto space.Īndre and I have ecided that we are closing the chapter of contributing to the defi/crypto space.Andre Cronje, perhaps best-known for his work on Fantom and Yearn Finance, alongside Anton Nell – senior solutions architect at the Fantom Foundation – will reportedly be leaving the cryptocurrency space.
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