SCC’s Statement Regarding Fantom
In light of the recent news that Andre Cronje and Anton Nell are no longer going to contribute to the DeFi/Crypto space, we felt it was best to give our opinion on what we are seeing with reactions to the news, what to expect from the market with FTM, and how it affects SCC overall.
Those familiar with the crypto space and Andre Cronje, understand that this market loves to overreact to any sort of news; positive or negative. Furthermore, while there have been a tremendous amount of contribution and advancement in this space because of Andre, it hasn’t been without drama. We don’t want to speak as to the reasons Andre has chosen to make his announcement, or if it has any real credibility long term; we do want to speak to the projects that exist because of Andre, their position in the market and the foundation of Fantom as a chain.
The truth of the matter is that other than very recent projects like Solidly, Andre has not been contributing to the coding or growth of most projects he started until now. However, projects like Yearn or Solidly will likely be forever linked to his name. These projects are now supported by amazing teams of people and of all the L1’s seeking to compete with Ethereum, Fantom carries the lion’s share of true organic projects and a self-sustaining ecosystem. We do not see this changing moving forward and merely see this dip in price and overall activity as a consequence of a down market driven by global events, and untimely news that generates even more doubt around FTM and its native projects.
We remain confident that the future of FTM is strong and that will only continue to improve as time passes and development/improvement of the chain continues. We have already seen numerous development teams and projects respond today with overwhelming assurance of their confidence as well. If anything, this might be positioning FTM for an even bigger run with Andre perceived to be out of the picture. After all, the heart of crypto is to build self-sustaining ecosystems that are no longer dependent on people, but on the integrity of the code. FTM and many projects on the chain have shown that they are built to survive people leaving, world events happening and the promoted narrative that look to bring it down.
SCC has no plans to move chains because of this recent announcement and will continue to develop and improve on FTM moving forward. This doesn’t eliminate our interest in always seeking opportunities on other chains as they present themselves, but for the foreseeable future FTM will remain SCC’s home and focus.