There have been rumors over the last week that lead developer Andre Cronje has quit the project Yearn.finance project after the hack of the Eminence project where bad actors stole $15 million from the liquidity pool.
Andre Cronje’s Declaration
Ultimately, Andre Cronje received $8 million back from the hacker, but several members of the crypto community remained upset with him.
In a recent post on Twitter, Cronje stated that he has not abandoned Yearn and that he is “still here” and “still building.” Rather, he said that he is done with social media, including Twitter:
Still here. Still building. Nothing has changed. Anyone that says otherwise fuck off. I'm just done tweeting and being on social media.
— Andre Cronje (@AndreCronjeTech) October 9, 2020
The Future of Yearn.finance
Facu, a Yearn.finance developer, said the team took “one step closer to vault V2.”
On Oct. 1 the Yearn.finance team formally announced the successful production of V2 Vaults.
The confluence of a new product introduction highly awaited and the overall DeFi demand rebound may have driven renewed interest in the Yearn.finance project.
Indeed, YFI has increased in value by 36% in the past few days due in no small part to the upcoming release of V2 vaults.
Typically, major product launches and updates would cause the underlying token to rise but the overall weakness of the DeFi market caused YFI price to drop lower throughout September.
The total value locked across Yearn.finance products is also hovering above $900 million. This indicates that almost $1 billion worth of capital has been deployed across the Yearn.finance platform.
