Wednesday, May 22, 2024

Andre Cronje Unwraps his Involvement in DeFi

Andre Cronje, the founder of Yearn Finance, was criticized for his deployment of smart contracts that led to the loss of many user’s money. Yesterday, Andre published a blog post on Medium explaining his involvement in Decentralized Finance. 

He began the blog post by explaining that he doesn’t build for speculators, but he builds for developers. He aims to help the developers to use the templates that he created and create products out of them. 

Then, he clarified that the tokens are not stocks. He said, 

“If you have tokens, it is because you want to be a contributor, not a bystander. There is this concept of “community”, and I think that concept is causing friction, it should not be team and community, but instead contributors.”

Later, Andre Cronje explained in detail about his popular “test in prod” statement. Cronje placed many disclaimers to tell people to use his smart contracts with caution rather than rushing in to the development process immediately. Sometimes, Cronje also faced criticism for not deploying the smart contracts in testnets.

Andre Cronje’s Software Development Process

In the blog, Andre also explained about his software development cycle. It includes 6 stages:

Stage 1: Local Tests

This stage ensures everything is functional and works according to the plan.

Stage 2: Interaction Testing

This stage ensures that everything operates from the perspective of 1 user interaction. 

Stage 3: Composite Testing

This stage compares the interaction between various stages of development. 

Stage 4: Fake Prod

This stage copies ETH mainnet and fake deploys contracts and checks their interface.

Stage 5: Integration Testing

This stage deals with real-world testing, transactions, gas limits, volume, tooling interaction.

Stage 6: Prod Deployments

This stage conforms with UI’s, medium articles, and other documentation.

He claims that “there are over ~22 “yearns” on ETH mainnet. There are over ~5 “YFIs” on ETH mainnet. There are over ~9 “v1 y tokens” on ETH mainnet.”

Cronje also added about his unfinished project, Eminence.Finance (EMN). This project was at the fifth stage when it was attacked. 

Cronje did not Create Yearn

Cronje claims that he is not the whole and sole creator of Yearn. He also adds to it that,  the websites, tooling, newsletters, forum, discord, telegram, and active development on GitHub are not done by him. He is just a rapid prototyper. He said that if anyone thinks that yearn is dictated, led, or is dependent on him by any means, then they are doing a disservice to yearn. 

Must Read: The Ultimate Guide To Non-Fungible Tokens (NFTs)

The Future

Andre Cronje is more certain about the future of development. He exclaims that he cannot do it alone as he will require fellow builders to collaborate, teams to get new ideas, and finally convert all of them into a full-fledged product. He is very affirmative, as he considers the conflict of a human rather than a technical. He doesn’t see ETH disappearing nor the builders stopping, so he decides to continue the building process. Andre also knows that there will be successful results and failures. He chooses to try.

Renuka Belamkar
Renuka Belamkar
Renuka is an active blogger and guest writer at Coin Gyaan. In her experience, she has worked as a crypto-journalist and has also contributed to the blockchain, cryptocurrency, and fintech industries. She aims to provide the latest cryptocurrency & trading information to the readers to help them trade effectively.

Related Articles


Comments are closed.

Stay Connected

- Advertisement -

Latest Articles