Andre Cronje who is known for his high-profile DeFi projects including Hegic, Pickle, Cover, PowerPool, Cream V2, Akropolish, Sushiswap and others, disagrees that strong yields are “long gone” and that DeFi is experiencing nearly “zero growth.”
Even with a very dormant market after a difficult year, the real yields for ETH, USDT, DAI, and USDC are currently greater than they were in 2020. Real yields provided by DeFi protocols typically come from the loan market and trading commissions. Short-selling investors had sold their token holdings. However, Andre Cronje claims that this group of market participants isn’t yet self-assured enough to liquidate their holdings, which would mark the “real yield low point.”
The market is currently caught up in a bear market with limited volatility. Thus, Andre Cronje said that he does not think the high yield time is “long gone” because doing so would be likened to comparing “the current market with an unsustainable and highly delusional market peak” rather than its development.
The well-known Web3 developer stated in a recent blog that “if you plot a growth chart on TVL, yield, and trade volume, and you flatten the curve to avoid oscillating, it is a clear linear growth chart. On every feasible metric, real yield and defi have grown substantially.”
Andre Cronje added:
“It was those projects that were given birth during that insanity that became the anchor products we use today.”
Andre Cronje Acknowledges Limitations on Technology
He emphasized that DeFi does not require a fresh plan or a “shiny new toy” to function. According to the creator of Keep3rV1, DeFi, similar to other blockchain fields like social media, gaming, art, news, etc. are here to stay. After that, he acknowledged the limitations in the present technology’s access and state.
Web3 and DeFi were determined to be resilient even though the industry was expected to suffer greater losses due to the persistent crypto market, according to Dapp Radar’s November analysis.
