The king of DeFi has retired, what is the future of these 8 AC-based projects?
Andre Cronje retired.
On March 6, Anton Nell, Senior Solution Architect of Fantom, revealed on social media that he and AC have decided not to continue contributing to the DeFi and Crypto fields. "Terminate".
Anton explicitly mentioned six projects in his tweet, namely Yearn Finance, Keep3r Network, multichain.xyz, Chainlist, Solidly, and ribe.crv.finance. Affected by this bad news, the tokens of related projects have experienced a relatively large short-term decline, among which YFI fell to 17314.82 USDT (the current 24-hour drop of 9.94%), and KP3R fell to the lowest of 392.95 USDT (the current 24-hour drop of 30.09% ). In addition, Fantom fell as low as 1.31 USDT (18.7% drop in the current 24 hours)
So, will these projects really "stop operations" as Anton said? Or is there some misunderstanding here? This is undoubtedly the issue that investors are most concerned about at present. To this end, we specifically checked the latest status of these six projects and some other projects (other projects may have the opportunity to update later) to understandDo these projects have follow-up operation plans?。
Project 1: Yearn Finance
Is it out of service: No
As one of the leaders in DeFi, Yearn Finance (YFI) is obviously the project that everyone is most concerned about at present.
Yesterday evening, shortly after Anton's tweet, Yearn Finance core developer banteg refuted the rumor on Twitter. According to banteg, AC has not done any work for Yearn Finance for more than a year. Even if AC quit the circle, Yearn Finance still has 50 full-time workers and 140 part-time contributors.
So the answer is simple, Yearn Finance will not be out of service.
Project 2: Fantom
Is it out of service: No
Fantom is undoubtedly another focus of market attention. Although AC is not the founder or CEO of Fantom, he has always been the most influential KOL in the Fantom ecosystem.
This morning, Fantom CEO and CIO Michael Kong has clarified on Twitter that Fantom will not stop development. The Fantom ecosystem consists of hundreds of developers, all core and middleware developers are working hard on the next update, including Snapsync, Flat storage, etc., and Fantom is constantly expanding the team of researchers and developers.
Project 3: Keep3r Network
Is it out of service: No
First of all, it needs to be clear that Keep3r Network will not stop, but there is an oolong here.
According to Adam Cochran, partner of Cinneamhain Ventures, currently DeFi Wonderland and other contributors are still working on the development of Keep3r Network, and Yearn Finance is also continuing to use this project.
As for the "outage" front-end display picture that is widely circulated in the community, it actually comes from "keep3r.network", and the front-end that Keep3r Network is using now should be "thekeep3r.network」。
Project 4: multichain.xyz
Whether out of service: yes
multichain.xyz may indeed be shut down, but here is another oolong.
There are two projects involved here - Multichain and multichain.xyz. Although the two are related, they are completely two products. Multichain is a decentralized cross-chain bridge protocol (formerly known as Anyswap), and multichain.xyz is just one of the front ends of the protocol.
In this regard, Multichain has issued an official statement saying: If multichain.xyz is closed, users can continue to usehttps://multichain.org/Projects that carry out cross-chain operations and integrate Multichain cross-chain technology will not be affected in any way.
Project Five: chainlist.org
Whether out of service: yes
The EVM network RPC aggregation site chainlist.org seems to be shutting down, but this kind of pure tool service is actually easy to find alternative products, such as the following three:
http://ankr.com/protocol/public
Project Six: Solidly
Is it out of service: No
The Solidly exchange is the last work of AC, and its future has also attracted a lot of attention from the market. Currently, Solidly's front end has shown that it will be out of service on April 3, but it also emphasizes that the protocol is open source, and anyone who is willing can continue to host its services.
Regarding the future of the project, the Fantom ecological project veDAO has tweeted: "We learned about the closure of the Solidly front-end through the AC-related announcement, and are contacting partners to coordinate a response. We need to convene all leaders to plan some actions together , but remember that this is a decentralized project, Solidly's existing contracts are not closed; it will continue forever. Solidex will continue to maintain the Solidly UI."
Solidex has also tweeted: "We have made arrangements to keep Solidly UI going. Solidly's contracts will not stop, they will always exist."
Project Seven: bride.crv.finance
Whether out of service: yes
At present, bride.crv.finance should really be shut down, but there is no need to worry, the community has already copied exactly the same service, such as bride.vetoken.finance made by veToken Finance.
Project Eight: Fixed Forex
Is it out of service: No
According to Twitter user @SeaSaltyFunk, AC confirmed in the telegram communication that it will hand over Keep3r and the decentralized foreign exchange protocol Fixed Forex to the existing team and DeFi Wonderland.
Summary: Bearishness also needs to be rational
Time is limited, let's take stock of these 8 more well-known AC projects first, as for the remaining 17, we will have the opportunity to continue to update in the article (wait for me to count them all...).
On the whole, for most projects, the departure of AC will not cause a fatal blow. Among them, projects such as Yearn Finance and Fantom have their own developer teams, and will not lose their development power due to the withdrawal of AC; Protocols such as Solidly may need to change the front end, but the underlying protocol will not stop running; as for small tool-oriented projects such as chainlist.org and ribe.crv.finance, it is easy to find alternative services even if they are out of service.
The departure of AC is undoubtedly a big loss for these projects and even the entire DeFi industry, but we also need to look at the different impacts of different projects in a more specific way. Odaily reminds you: you need to be rational when you are short-term, and don’t easily FUD.
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