The hugely influential character Andre Cronje, who recently announced that he is leaving the DeFi space, seems to be coming back.
Andre Cronje is back into DeFi space
It seems that the Yearn Finance creator Andre Cronje is bored without DeFi in ten days. He has been reportedly deploying and funding multiple stablecoin pools using Curve v2.
These stablecoins are from the fixed foreign exchange, which was released by Cronje last year and has interoperability with Curve, Yearn, and Convex.
Surprisingly, as the community speculates on why he’s back, Curve, the Ethereum exchange liquidity pool, has just launched a newly built fundraising gauge aimed at allowing funding seekers to generate funds through CRV emissions.
Cronje and his colleague and developer Anton Nell recently announced their departure from the DeFi space, as well as the “termination” of several significant DeFi projects.
This seemed like an exaggerated rug pull because several of the projects were not even handled by Cronje for a long time. The announcement led to sudden panic and severely impacted these DeFi projects’ performances. For example, as the announcement shot up, the native token of Yearn Finance (YFI) lost 13%.
Cronje’s repeated actions
Cronje, who developed and launched the crypto yield aggregator, Yearn Finance in 2020, has been a big name in the crypto industry, thanks to the YFI’s success which rose from $0 to $40,000 in just a few months.
While it seemed a serious departure to many, this is not the first time when the influential Cronje is leaving the industry. He found the crypto community toxic and quit it in 2020, but soon returned. However, he once again departed in August but came back.
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