The 'Godfather of DeFi' withdrew, shocking the crypto community
Andre Cronje, who laid the foundation for DeFi, suddenly announced that he was leaving the.
Earlier this year, the Solidly exchange became a phenomenon in the blockchain world in general and cryptocurrencies in particular with the ve(3,3) model. One reason why Solidly receives great attention from the community is because it is led by programmer Ander Cronje - dubbed the "Godfather of DeFi" with many famous and important projects to the community. such as Fantom, Yearn Finance, Chainlist... In the blockchain field, DeFi is a term for decentralized financial applications.
Cronje wants to build Solidly into a new generation decentralized exchange with outstanding advantages compared to exchanges like Binance, Coinbase, Kraken. These exchanges have met the majority of users' needs but still have certain shortcomings. Although operating on a secure and anonymous blockchain platform, old-fashioned exchanges are still hacked and reveal users' identities. In addition, the existence of too many exchanges makes cryptocurrency transactions scattered, making it difficult for users to liquidate. That is the reason why AMM exchanges (automatic liquidity tools) like Ander Cronje's Solidly are waiting for many people.
On March 1, Solidly officially operated but encountered many serious vulnerabilities. After heated arguments with the developer community, Cronje closed the Twitter account with a green tick. This is the usual action of "The Godfather of DeFi" whenever there is a conflict.
However, on March 6, Anton Nell, a longtime partner of Cronje, announced on Twitter: "Andre Cronje and I have decided to stop dedicating to the DeFi/crypto industry. We will terminate 25 projects/ service since April 3". Nell said this was a decision he and Andre had carefully considered, and not because of Solidly's recent failure.