Andre Cronje and Anton Nell — developers of Yearn Finance and Fantom Foundation — have decided to leave the crypto space, adding that the decision "has been coming for a while now."
Although Nell didn't explain the reason behind the move, he noted that the group will terminate around 25 decentralized finance (DeFi) apps and services on April 3, 2022.
Shortly after the news broke, year.finance (YFI) lost over 10% in value sliding to $17,788, with fantom (FTM) dropping by almost 11% down to $1.31, according to data from Nomics. Cronje was the first developer whose token — YFI — flipped bitcoin in price. In August 2020, YFI breached the $30,000 mark, while bitcoin was trading below $12,000.
Read also: Opera for Android brings DeFi
Yearn Finance's popularity was mainly due to its functionality that allowed users to passively generate income — also known as yield generation — though lending and trading services.