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Fantom Foundation Releases Statement Following Andre Cronje's Exit: Details

Fri, 03/11/2022 - 10:25
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Vladislav Sopov
Tech progress of Fantom (FTM) blockchain and its ecosystem will not be affected by Andre Cronje's decision to leave DeFi segment
Fantom Foundation Releases Statement Following Andre Cronje's Exit: Details
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Fantom Foundation, the nonprofit behind the development of high-perfromance blockchain Fantom (FTM) and associated dApps, released a statement to make things clear before the resignation of Andre Cronje.

Fantom (FTM) development continuing and accelerating

According to the official statement shared by Fantom Foundation on its blog, there was a lot of "miscommunication" after media outlets started to spin the narrative of Andre Cronje's decision to leave DeFi segment.

Largely, this statement is set to explain that the influence of Andre Cronje's decision on Fantom's progress and promotion should not be exaggerated.

As per the document, neither Cronje nor his colleague Anton Nell were core developers of Fantom (FTM). Like other products that had been curated by Cronje, Fantom (FTM) has its own team to be responsible for Fantom's future.

As such, the roadmap of Fantom is still valid: the team is even expanding its human and technical resources:

Fantom's technology development is continuing as normal. In fact, it is accelerating, with new hires being made.

Here's how Andre Cronje's departure affected the altcoins

Also, Fantom's representatives stressed that media outlets that spread the misinformation had their articles retracted in "one-two hours."

As covered by U.Today previously, Andre Cronje and Anton Nell decided to quit all activities in the decentralized finance segment. They left their advisory positions at Yearn.Finance, Solidly and so on.

DeFi Tokens Tank as Devs Quit

YFI, FTM, KP3R and other native cryptocurrencies of the products associated with these devs simultaneously posted double-digit losses in almost no time.

Known as "DeFi Dad," South African engineer Andre Cronje is one of the most influential developers in DeFi: he is an architect of the Yearn.Finance (YFI) protocol.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)