ICYMI: Andre Cronje and Anton Nell's exit from the industry caused Fantom's TVL to tank 21.16% $FTM FTM
Consequently, Fantom's total value locked , or the overall value of crypto assets deposited, tanked nearly 21.16%. That of Solidly and Solidex, which was run by Andre Cronje on Fantom, dropped by 44.61% and 45.22%, respectively, in the past 24 hours.
Anton Nell claimed in the Sunday tweet that a total of 25 decentralized finance applications will be terminated starting from April 3. Yearn.Finance, Keep3r Network, Solidly and other protocols are among the abandoned projects. 1/ As many of you are aware, Anton, who works with Andre, tweeted that they were"terminating" 25 projects. This was misunderstood. They are “terminating” their involvement, but handing over anything they run to the existing teams., CEO of Fantom Foundation clarified that this was misinformation: ''Many of you are aware, Anton, who works with Andre, tweeted that they were 'terminating' 25 projects. This was misunderstood.
The price of the YFI token collapsed roughly 13% since the announcement but has since pared some losses. The cryptocurrency attracted plenty of attention during"DeFi summer" in 2020 after a massive rally, but it has since plunged into relative obscurity. Fantom's total value locked grew by nearly 600% in November 2021 following the announcement of the 370 million Fantom Incentive Program. Following the news, the Fantom protocol's total value locked has shed nearly $3.35 billion since March 3 to stand at a present value of $7.64 billion, according to Rumors about Cronje's departure started circulating on Twitter on Saturday after he had changed his LinkedIn profile to show that he was no longer working at the Fantom Foundation, Yearn.
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