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The founders of the “Fantom” project and “Yearn Finance” exit the crypto market and the prices of YFI and FTM are affected by the news!

The founders of the “Fantom” project and “Yearn Finance” exit the crypto market and the prices of YFI and FTM are affected by the news!

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Answer The founders of the “Fantom” project and “Yearn Finance” exit the crypto market and the prices of YFI and FTM are affected by the news!

Mr. Andre Krone is one of the well-known names in the crypto space, where he became famous after founding the “Yearn Finance” project.

The same applies to Mr. Anton Neil, Senior Solution Architect at the Fantom Foundation.

In a Twitter thread published today, March 6, 2022, Anton Neil, Senior Solution Architect at the Fantom Foundation, announced that he and Andre Crony will stop contributing to the crypto space.

Where his tweet came with the meaning:

Andrei and I have confirmed that we are closing the chapter on contributing to the crypto space.

There are about 25 applications and services that we will be ending on 03 April 2022.

One of the services mentioned is YearnFi which is a front end for Yearn Finance (YFI) that Crony has been working on.

It is worth noting that this does not mean that Yearn Finance will stop operating in any way.

But Crony is the one who came up with the protocol in the first place, and that was an ingenious move looking back exactly to the start of the DeFi summer in 2020.

Downplaying the impact, “Banteg” commented on the YFI project by saying:

The people burying YFI, do you realize Andre Crone hasn’t worked on it for over a year?

And even if he does, there are 50 full-time people and 140 part-time contributors to back things up.

The news was met with an immediate hit in the YFI price, which immediately lost about 10% and dropped its price to just over $18,000 from nearly $20,000.

Read:A Kuwaiti bank announces a payment service powered by Ripple technology

While the FTM price has also fallen by 15% in the last 24 hours.

With regard to whether “Croney” plans to return in the future or not, “Anton Neal” indicates otherwise, where he stated:

Unlike previous anger terminations, this isn’t an unusual reaction to the hate received from launching a project, but a decision that’s been in the works for a while.

Thank you to everyone who has supported us over the past few years.

Read also:

Founder of “Terra” Project: “Terra Network” will add 160 new projects by the end of 2022 and its “TVL” exceeds $ 22 billion

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