Andre Cronje, the developer of yearn.finance, talks about all things DeFi and the past, present, and future of yEarn. In this episode, he discusses:
- what Yearn Finance is, and what led him to develop it and eventually open it to the public
- his history and background, leading up to the development of Yearn
- the processes and mechanisms involved in yEarn v1 and yEarn v2
- why he decided to do a "fair launch" of the YFI token, despite being in debt as a result of building Yearn
- why he felt that a Decrypt article about him in August was a "horrible hatchet job"
- why he disagrees with what he sees as the current anti-VC narrative
- his thoughts on the phenomenal rise in YFI's price and why the price of a YFI token still doesn't matter
- how and why he decided governance participation would be a requirement for earning tokens in the Balancer/yCurve/YFI pool
- the governance processes in Yearn and his thoughts on whether or not a Compound-style form of governance would be better
- how he might mitigate whales dominating the vote
- what he means by "I test in prod" and how people have misinterpreted his meaning
- why he briefly walked away from DeFi
- whether he agrees that YFI could be a new structure to replace existing traditional business structures
- his response to the allegations by XAR Network
- whether he would consider moving Yearn to another blockchain
- his vision for what Yearn can become
- and how much YFI he currently owns personally
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Episode links:
Andre Cronje: https://twitter.com/AndreCronjeTech
Yearn Finance: https://yearn.finance
CoinDesk on Yearn: https://www.coindesk.com/what-is-yearn-finance-yfi-defi-ethereum
The Block report on yEarn Finance: https://www.theblockcrypto.com/genesis/75189/defis-yield-aggregator-dao-yearn-finance
Post introducing $YFI: https://medium.com/iearn/earning-yfi-y-curve-fi-53b5fd347f0f
Delegated vaults: https://medium.com/iearn/delegated-vaults-explained-fa81f1c3fce2
V2: https://medium.com/iearn/yearn-finance-v2-af2c6a6a3613
Delphi Digital report on yETH yVault: https://www.delphidigital.io/reports/yeth-now-do-you-understand/
yETH collateralization ratio: https://defiexplore.com/cdp/13972
Tony Sheng newsletter: https://tonysheng.substack.com/p/yfi-ponzinomics
Yearn Governance: https://medium.com/iearn/yearn-governance-forum-7b7c9d0300ac
yInsure Finance: https://medium.com/iearn/yinsure-finance-a-new-insurance-primitive-77d5d4217896
Delegated funding DAO vaults: https://medium.com/iearn/delegated-funding-dao-vaults-7ab05a63d7ba
Siege Rhino question about governance: https://twitter.com/SiegeRhino2/status/1303415750238101504?s=20
Andre’s “Building in DeFi Sucks” post: https://medium.com/@andre_54855/building-in-defi-sucks-b8fdfda0ef58?source=---------17------------------
Andre quits in February: https://decrypt.co/21068/founder-of-promising-defi-project-abandons-the-toxic-cryptosphere
Andre close to quitting in August: https://decrypt.co/37995/exclusive-yfi-andre-cronje-broke-quitting-defi
What Andre wishes he had known before building Ethereum dapps: https://medium.com/iearn/things-i-wish-i-knew-before-building-ethereum-defi-dapps-cd6bf0f07a16
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