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Odaily Translator |

Odaily Translator |

As one of the most "prolific" developers in the DeFi field, Andre Cronje is known to almost everyone in the encryption industry. Let Mr. Odaily (ID: o-daily) take you to understand this "DeFi" again. Satoshi Kai Nakamoto".

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Who is Andre Cronje?

Andre Cronje is a software developer from South Africa, an entrepreneur in the cryptocurrency/DeFi (decentralized finance) industry, and he is also the founder of the famous Ethereum protocol Yearn Finance.

It is worth mentioning that Andre Cronje has participated in many well-known DeFi projects, such as Akropolish, Cover, Cream V2, Pickle, PowerPool and Sushiswap, and he is known as one of the most influential people in the DeFi field.

"Just one lab accident between me and the supervillain... Honestly, this lab accident really needs to happen soon..."

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Background information on Andre Cronje

According to Andre Cronje's LinkedIn profile, we see that he graduated from Stellenbosch University (Stellenbosch University) in 2003 with a Bachelor of Laws degree, and studied Computer Science and Informatics at the Computer Training Institute (CTI) in 2005. system, and stayed there as a lecturer from June 2005 to September 2006.

After leaving CTI, Andre Cronje became heavily involved in technical projects, as Technical Team Leader (October 2006-December 2008) at African mobile communications company Vodacom, Mobile Project Developer at Maapplications (September 2009- June 2010), and Software Architect for Full Facing (August 2013 - July 2015).

Andre Cronje started working in the cryptocurrency industry only in recent years, initially as a blockchain protocol consultant at BitDiem (March 2018-September 2018), then as a blockchain infrastructure engineer at CryptoCurve (2018 April-March 2019) and Technical Analyst at Lemniscap (June 2018-June 2019).

CoinMarketCap once summarized Andre Cronje's career before Yearn Finance:

As of May 5, 2021, Andre Cronje has had work experience and positions in several encryption organizations, including DeFi Architect of the Ethereum Foundation and Yearn Finance Architect.

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"Satoshi Nakamoto in the DeFi world"

In a previous interview with Paradigm, Andre Cronje said that he transitioned from the financial technology industry to the blockchain field. He said:

“I started teaching at CTI, then I was in charge of telecom systems (GGSN, ISN) build at Vodacom, then I built cellular networks in Africa and started getting into big data, neural networks, then moved to fintech and from there it naturally went into blockchain , first as a researcher and eventually as an engineer."

In 2016-2017, Andre Cronje was attracted to decentralized distributed ledger technology because of its promise to solve problems faced by fields such as mesh computer networks, big data and machine learning. However, having recognized the huge potential of DeFi protocols, at the time Andre Cronje was still skeptical about the state of the decentralized finance market:

“After my initial foray into the DeFi space, I realized that the space seemed to be full of marketing hype and lies, but the core decentralized technology is still strong, so it’s here to stay.”

According to previous CoinDesk reports, Andre Cronje began to be interested in cryptocurrencies at the end of the Bitcoin bull market in 2017. At that time, he had some unpleasantness with his business partners, so Andre Cronje began to study cryptocurrency white papers and GitHub repositories. Andre Cronje admits that if his business partner continues to maintain a good relationship with him, he "may still be doing the same thing that has been doing for the past five years, related to the telecommunications industry."

As interest in cryptocurrencies grew, Andre Cronje started doing code reviews for CryptoBriefing, and as his contacts in the space grew, he was quickly offered to work on the Korean blockchain platform Fantom project. However, Andre Cronje did not recognize Token culture at the time, and was even a little frustrated. He said when he participated in a YouTube show Oh Hey Matty in March 2019:

“Compared with product projects, Token games waste too much time, energy and money, which is good for product projects in the long run.”

Still, Andre Cronje decided to help “people who own crypto tokens get more crypto tokens,” and thus launched Yearn. In July 2020, Andre Cronje stated on the FTX podcast that the Yearn project began as he attempted to manage a small stablecoin portfolio as a savings account.

In late September 2020, on Erica Kang's YouTube show, Andre Cronje compared the 2020 DeFi boom to the ICO boom of late 2017:

“We now feel that DeFi and initial coin offerings are a bit like the same field, but they are not. Everyone thinks they need a token, so they need a yield farming farm for liquidity mining.”

In June 2019, on Crypto Zombie's YouTube show, Andre Cronje said that he believed that the DeFi industry effect was exaggerated, and he also regretted that "people are persistently chasing high-yield DeFi products."

It was in this year that Andre Cronje saw people starting to leave the crypto industry because they were "getting bored", which may have planted the seeds for him to leave the DeFi field in the future.

Despite a slight disappointment with the DeFi industry atmosphere, Andre Cronje launched Yearn Finance on January 20, 2020 and got himself up and running.

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Yearn financial platform

Andre Cronje rose to fame after launching Yearn Finance in early 2020.

Yearn Finance allows digital asset holders to earn income by investing in cryptocurrencies on the platform. Incredibly, as of May 5, 2021, the annual growth rate of assets invested by investors in Yearn Finance has increased from only 1% at the beginning to as high as 45% for some assets now.

The governance token on Yearn Finance (token holders can use this token to influence the future of the platform) is called Yearn Finance (YFI).

However, since late September 2020, when Andre Cronje took $15 million from the bonding curve contract of Eminence (a project Andre Cronje is working on), the relationship between him and the community has become tense. However, in late November 2020, Yearn returned strongly, announcing a series of cooperation, acquisitions and mergers with the "six DeFi" projects, further promoting innovation in the DeFi field.

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Andre Cronje Net Worth

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Summarize

Summarize

Frankly speaking, there have been signs of Andre Cronje's "leave" as early as a few days ago-

On February 28, 2022, Andre Cronje's twitter account @AndreCronjeTech was unavailable, rumor has it that he himself logged out of twitter.

On March 4, 2022, Andre Cronje's LinkedIn profile indicated that he had left the Fantom Foundation and yearn.finance (last position was February 2022), and currently only retains the founder position of keep3r.finance.

According to crypto community member @Theologue.eth, Andre Cronje withdrew from the DeFi and Crypto fields and handed over his previous projects to other trusted developers, or because he could focus on building the Solidly ecosystem (not the Solidly project itself). Solidly is the pinnacle of Andre Cronje's work, the project he has been working on the longest, and it is also the project he is most proud of, so no one should underestimate Andre Cronje's tenacity on Solidly.