The Shocking Announcement
On March 6th, DeFi developer and Fantom Foundation senior architect Anton Nell tweeted that he and Andre Cronje (AC) would exit crypto and DeFi entirely, shutting down 25 applications including:
- yearn.fi
- keep3r.network
- solidly.exchange
- chainlist.org
The move, effective April 3, 2022, sparked immediate controversy. Critics accused AC of "rug pulling," while supporters praised his contributions to DeFi innovation.
Signs of Departure
AC had been distancing himself from the space:
- Deleted Twitter account
- Updated LinkedIn to reflect February 2022 end dates for Fantom/Yearn roles
- Yearn Finance announced "unmergers" with SushiSwap, CREAM Finance, and other previously integrated protocols
The AC Legacy: Triumphs and Controversies
Building Through Adversity
AC mortgaged his home to fund Yearn's 2020 launch (initial cost: $42,467). The protocol gained fame during DeFi Summer, but AC faced constant scrutiny:
- 2020’s failed Eminence game hack ($15M stolen)
- Death threats from angry investors
- Public criticism of "toxic" DeFi communities
👉 How Yearn Finance pioneered yield optimization
The DeFi Merger Wave
At peak innovation, AC orchestrated high-profile integrations:
| Year | Merger | Outcome |
|---|---|---|
| 2020 | Pickle Finance | Shared liquidity pools |
| 2021 | SushiSwap | Coordinated yield strategies |
| 2021 | CREAM v2 | Enhanced lending markets |
Why AC Left
In his own words:
"DeFi made me neglect my life, health, and mental clarity. I build tools for developers—not speculators."
Market Impact
Key tokens nosedived post-announcement:
- Fantom (FTM): -22%
- Yearn (YFI): -18%
- Solidly (SOLID): -41%
FAQs
Q: Will AC return to crypto?
A: Unlikely. He’s cited "irreparable damage" from community toxicity.
Q: What happens to Yearn Finance now?
A: The DAO governs YFI; core products remain operational.
Q: Was Solidly a "cash grab"?
A: No evidence suggests malicious intent—just unfinished tech.
👉 Explore DeFi’s evolving governance models
The Builder’s Dilemma
AC’s exit underscores crypto’s tension between:
- Innovation (rapid experimentation)
- Accountability (user protection)
His legacy? A blueprint for permissionless finance—flaws and all.