Yearn.Finance is managing a leadership transition right now and appears to be doing so effectively.
Andre Cronje, the prolific coder and creator of Yearn, said he’s quit the project – and decentralized finance (DeFi) altogether – out of frustration with its realities.
“I’m not building anything at all anymore,” he told CoinDesk over Telegram on Oct. 1. “I do it because I’m passionate, but if people are going to use my test environments, then lose money, and then hold me liable, it means there is 0 upside and only risk for me.”
Yearn.Finance is the leading robo-adviser for yield in DeFi and the progenitor of the “fair launch” concept that has proved so powerful this summer. However, when users piled into a smart contract he was building in late September that wasn’t ready, got hit by an exploit and then blamed Cronje, that proved too much for the developer.