Yearn.finance and Solidly devs quit DeFi, unleashing speculations and fears

Andre Cronje and Anton Nell abandon over 20 DeFi apps and services, including yearn.fi, Solidly and bribe.crv.finance.

The news triggered an immediate nosedive for assets tied to Cronje and Nell’s projects, with YFI dropping 11% in the space of two hours and FTM slumping 14%. Active developers scrambled to reassure users of their business-as-usual approach.

Cronje and Nell offered no explanation, with less than a month until their exit date, April 3rd. Nell stressed that their decision is not a “knee jerk reaction to the hate received from releasing a project”, hinting that they have been contemplating it for a while.

Speculations quickly overcame crypto Twitter. The DeFi Edge suggested that Cronje, a builder-at-heart, struggled to handle the managerial side of his projects. Indeed, Cronje expressed his dejection as early as 2020. He has now deactivated his Twitter account.