Andre Conje and Anton Nell, some of the largest cryptocurrency and decentralized finance (DeFi) sector players, announced they would be leaving the sector. The news came as a shock to the Fantom community, as Conje was one of the developers on the network.
Conje and Nell made this shocking announcement on Sunday, and it came as a surprise to the community, as there were no hints on the two abandoning the projects they had helped to cultivate in the blockchain sector.
Fantom Foundation speaks on Conje’s departure
The announcement by Conje raised concerns about the future of the Fantom blockchain, as he was one of the major players on the project. However, the Fantom blockchain has quickly reacted to this news, saying that the network will not be affected in any way.
The Fantom Foundation has also stated that the contribution of Conje to the cryptocurrency sector has been notable. The foundation also added that the fantom Network was comprised of a large team; hence the departure of one developer would not harm the project. Fantom has also stated that Conje was not one of its core developers.
The Fantom project will continue with its development because there was a team of over 40 other developers working round-the-clock towards the success of the Fantom network. It noted that its developer team comprised over 40 other developers committed to the project.
Besides the rising number of developers, more than 100K unique addresses are conducting daily transactions. The foundation further stated that Conje was a “big picture guy” that had worked hand-in-hand with the CEO of the Fantom network. The network development will be as scheduled, and notable upgrades will be conducted within the scheduled timeframe.
“Therefore, the development of Fantom won’t be impacted by Andre’s decision. Big things are coming, as scheduled. We’re still on track to ship snapsync and a db upgrade in the short term and to release middleware improvements such as flat storage and the fvm,” the network added.
Andre Conje leaving the Fantom network
Conje has been one of the popular figures in the Fantom community. Conje has been involved in the Fantom network since 2018, and he has been actively involved and contributed to its development.
Besides working on the Fantom network, he has also been involved in developing other projects in the DeFi sector, including Yearn Finance, Keep3r network and others. His key development was playing an integral role in the Fantom network. This was why the departure of Conje dealt a major blow to the Fantom community.
Anton Nell took to Twitter to explain why he and Conje were leaving the crypto and DeFi sectors. He noted that a decision to depart has been coming for a while, showing that it was not just an abrupt move.
Nell said,
Unlike previous ‘building in defi sucks’ range quits, this is not a knee jerk reaction to the hate received from releasing a project, but a decision that has been coming for a while now. Thank you to everyone that supported us over the past few years.
Following this development, the prices of native tokens for the projects that Conje has been working on have plummeted. Fantom has dipped by 17.8% during the past 24 hours to trade at $1.36 at the time of writing. On the other hand, Yearn Finance (YFI) has dipped by 9.8% to reach $18K at the time of writing. However, the tokens are showing signs of a price correction.
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