Before Andre Cronje resigned, the Fantom Foundation, the non-profit spearheading the creation of the high-performance blockchain Fantom (FTM) and associated dApps, stated to clarify things.
According to Fantom Foundation’s official statement, there was a lot of “miscommunication” as media outlets began to distort the story of Andre Cronje’s decision to leave the DeFi section.
There were claims that Cronje had built Fantom’s technology, which the firm has clarified is not the case.
The departure of Cronje and Nell had ushered in an atmosphere fit for FUD. The team at FTM has come forward to dismiss all rumors.
What did the statement from Fantom say?
According to Fantom’s statement, Cronje served as an advisor to Fantom. He offered high-level technical and treasury management assistance, as well as connecting the team with people and projects he admired and thought would benefit the Fantom ecosystem.
Cronje and Nell did not “terminate” 25 projects, according to the statement. Any involvement in these initiatives was to be delegated to the current teams, many of whom had been developing and operating on their own.
Cronje and Nell, as per the statement, have never been FTM’s “core developers.” Andre assisted in the formation of the existing development team, but it is the team that has constructed the Fantom technology stack. Some of the core team members have worked with Fantom for years and are always working to improve the technology.
Recent FTM developments
According to WhaleStats, whales on the Ethereum network have started a run of huge purchases of FTM cryptocurrency, with over 18 million FTM tokens purchased in the previous 15 hours.
According to the service’s token website, the FTM token has seen a 15% growth in the number of active addresses among whales, but the net flow into the asset has plummeted by about 100%, reaching a negative $17 million.
However, while the asset’s net flow is still negative, trading volume has increased by 409 percent. The reason for the rising interest in the token could be linked to the token’s core value: the total number of decentralized applications, TVL, and available supply.
At the time of publication, Fantom was trading at $1.25.