EP 38 — How to Fix DeFi with Andre Cronje
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Welcome to the Deco podcast, where we bring you stories from founders and investors in Web three. Before we get started, this is not a financial or legal advice. It's just a conversation about things we find interesting in Web three. Views expressed are our own personal opinions. The co members or guests appearing on the show may have positions on assets they talk about. Alright. Welcome to another episode. Today, I have with me Andre Cronje. Andreje was a builder of Yarn Finance. I mean, if you guys were around for about four or five years, you know what I'm talking about. It was one of those
I appreciate that. And might I say, I think you are officially the first person that I've ever done a podcast with in the entirety of crypto that I said my surname correctly. So if nothing else, congrats for that. Thanks
a lot. It's because of cricket, I guess. So I I forget so. Yeah. Yeah. Yeah. And, like, I think in India, we love, like, South African players, whether it is, whether it is Nicky Boyer, or, you know, Zach Gallizet, like, all of these guys. Right? Yeah.
I get it. I mean, it's basically a national sport in South Africa as well. So, you know, we just follow the Indian teams and everyone else closely as well. But it's surprising to see because, normally, it's the English sort of inflection of the name. But, anyways, let's get into it. Alright.
So I want to start with how you've been a rough three years for you. Let us get into, you know, what transpired and, like, how you were able to tackle that. And I'm assuming that finally you are in a mode where you can focus on code more than recognitions?
Look. I mean, a lot of what keeps me busy nowadays is still regulatory and legal. I wish it was more code, but that aside I mean, there's a lot to unpack there. You know? I mean, there were a lot of lessons learned the last, probably four years. Whether it is, you know, me building in public and then having something like the imminent exploit happened, I think that was a a big lesson for me over the last few years or whether it was learning with solidly that, you know, the space had changed and people didn't really care about true decentralization or immutability anymore or whether it was my b
No. I mean, I would love to understand about, like, how did you respond to these letters? Like, was there legal help? Like
When it started, I was definitely more naive. The first few letters were basically all of the letters are just request for information with a not so thinly veiled threat that should you not provide the information, then it would be escalated. So it starts, I wanna say, friendly enough. And and, like, the first letter was fairly obtainable information. You know? It was just like, hey. Who did you sell the token to? Right? That's easy. I didn't sell it to anyone. And then, like, how do you make money from the protocol? Again, easy. I don't make money from the protocol. You know? And I kinda thou
enough proof should be on them.
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