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Andre Cronje, the Yearn Finance founder Nominates himself as the Uniswap Delegate



Andre Cronje, the Yearn Finance founder Nominates himself for the Uniswap Delegate

Yes, you read it right, Yearn Finance founder Andre Cronje nominates himself as the Uniswap protocol delegate. He personally tweeted and confirmed this via a tweet.

The recent tweet made by Andre Cronje read as “I would like to signal my intent to be a Uniswap Protocol delegate. I will build tooling to facilitate delegation, off-chain voting, and on-chain enforcement. You can delegate via etherscan.”

He further added, “At this point, I do not think it should be a rush to incentivize liquidity pools (this can be abused). I believe we have an opportunity to re-evaluate the tokenomics and distribution. We can help DAI or sUSD reach peg. We can provide support for further development.”

One of the twitter users asks about his intention for the YFI-ETH pool to be included in the UNI liquidity pool. He replied by saying, “At this time, no, it would attract YFI holders to provide liquidity instead of using it for its intended purpose (such as governance). I believe there is better value add that can be done for the overall ecosystem by utilizing UNI incentives in other proposals.”

To inform let me remind you that Andre Cronje is a software architect who actively helps to grow the DeFi into a multi-billion dollar enterprise. This South African gave years to develop yEarn, earlier known as iEarn.

The Uniswap Protocol is founded by Hayden Adams, it is a protocol on Ethereum develop to swap ERC20 tokens. As other existing exchanges take charges but Uniswap is designed especially for the public good. It does not charge any platform fees or involve any middlemen.

Moreover, like others, it does not wait for the buyers or sellers price to match rather it simply uses some mathematical equations and ETH to perform the same job.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.