Andre Cronje: There is no fair launch, only benefit
Original title: "Interview with Andre Cronje—DeFi Architect, and Creator of Yearn Finance"
Original source: Paradigm
Original compilation: 0x26
Andre, who left Yearn Finance, continues to be productive. A number of project tokens related to it have been launched, including not only the projects EMN and LBI that have already "blanketed", but also the recently popular Keep3r. Andre accepted an interview with Paradigm on November 2, and Rhythm translated Andre's unique thoughts and responses to recent hot events as follows.
Paradigm: Let's start with a general question, tell us about your background?
Andre: I was originally a law major and took a year off from school. A friend needed transportation to a computer science lecture, so I gave him a ride to the class, took some of his courses, and thought I might be able to pass the computer science exam, and finally be a lecturer, and go from there Moved to Vodacom, set up telecommunication systems (GGSN, ISN), and was exposed to big data, neural networks, then fintech, and then naturally evolved into blockchain, first as a researcher and finally as an engineer.
Paradigm: What first attracted you to the blockchain industry?
Andre: In 2016 and 2017, the blockchain claims to be extremely powerful , solves problems we've had for years in mesh networking, big data, and machine learning, so it looks very enticing. After entering the space, I realized it was mostly marketing hype and lies, but at the core, decentralized technology is still powerful, and so has been in the space ever since.
Paradigm: In your opinion, what are the main challenges of decentralized governance?
Andre: Participate in apathy. The problem with governance tokens is that because they have a secondary market, you end up with a large number of "speculators" holding tokens who have no interest in participating in governance. This indifference to participation renders decentralized governance meaningless, necessitating lower quorum and proposal thresholds, essentially “cutting off” the influence of speculators, but doing so also reduces the security of the network. Incentive misalignment between speculators and users is the biggest problem. (Rhythm note, Uniswap’s current two governance votes have not reached the 40 million threshold.)
Paradigm: Do you think "fair lunch )” is fairer than founders getting some compensation to pay off debt while building the project (fair lunch compared to tokens issued in the previous form of fundraising)?
Andre: Nothing is " Fair" (Nothing "fair" about it), if speculators make money, they will say it is fair, if they do not, they will say it is not fair. It's that simple. Founders should be rewarded for their work and dedication more effectively than random users buying tokens from the secondary market.
The only reason why I give up YFI's is because I want to give up It. While it's not fair, it's selfish, and I no longer want to be the only one in charge, so I abdicate that part of my responsibility.
Paradigm: What do you think about the current state of the DeFi industry? Which projects are particularly exciting?
Andre: a bit pessimistic. Most projects are trying to replicate traditional finance. I don’t think this is the right approach. Traditional finance works because of fractional reserves, but we can’t do that. DeFi’s capital utilization is more efficient under current circumstances Low. In the field of DeFi, the porting of traditional financial solutions will mostly fail.
Paradigm: What was the reasoning behind almost kicking you out of the cryptocurrency community this summer?
Andre:Lack of personal responsibility and the illusion that price determines value .
Paradigm: As a genius architect who relentlessly releases code, it seems like you are always shrouded in mystery. Besides designing programs and developing, what do you like to do most?
Andre: I used to like mixed martial arts and bodybuilding very much, but Now the only thing I do is program.
Reference reading:
Is Fairness the Ultimate Vision of Decentralization? "
"Actually, YFI is already Andre Cronje's 6th project"
Welcome to join the official BlockBeats community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Official Twitter Account: https://twitter.com/BlockBeatsAsia
Related Articles
