The announcement comes as rumours swirl about the departure of two of the company’s most famous developers.
After the foundation’s technical adviser Andre Cronje and senior solutions architect Anton Nell declared they were quitting the crypto field entirely, media site Rekt.news made explosive charges concerning Fantom Opera, a layer-2 Ethereum scaling solution. Concerns from the community erupted almost immediately after Nell tweeted, “There are approximately 25 apps and services that we are shutting on 03 April 2022.” “Fantom, Solidly, SpookySwap, Abracadabra, Geist: many projects all interwoven into a system designed to extract maximum wealth for a limited set of insiders who are now steadily fleeing the stage,” the now-deleted Rekt piece claimed.
The Fantom Foundation, on the other hand, issued a statement on Friday in response to the Rekt piece’s purported “factual mistakes,” “debunked assertions,” and “misinformation.” “Andre and Anton did not ‘cancel’ 25 projects,” according to the Fantom Foundation. Instead, any engagement in these initiatives (such as user interface) was to be handed over to existing teams, many of whom had been developing and running independently.”
Furthermore, the foundation stated that neither Cronje nor Nell were core developers at Fantom, and that the company was not involved in the development of any of the 25 projects in question (including, most significantly, Yearn.finance). The total value locked on Fantom has dropped to $8.27 billion from $11.26 billion on Sunday, the day of the announcement, presumably due to the pair’s departure. Since its creation, the blockchain has executed over 200 million transactions and has over 2 million active wallets.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.