Flying Tulip founder Andre Cronje contends that DeFi protocols have evolved into a new financial paradigm of “onchain finance,” but have sacrificed some of their inherent immutability and decentralization.
[Update, Aug. 14, 07:56 UTC: This article was updated to clarify Andre Cronje’s role in developing Fantom’s working network and his former role as Sonic Labs chief technology officer.]
Most decentralized finance (DeFi) protocols are no longer truly decentralized, according to Andre Cronje, founder of DeFi platform Flying Tulip and the technical architect who led the development of Fantom’s working network.
“I don’t think DeFi exists anymore outside of those very small niches,” Cronje told Cointelegraph during Thursday’s Chain Reaction X Spaces show.&
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