Andre Cronje’s name resonates with everything good in cryptocurrency. His name undoubtedly rings among the most well-known names in the cryptocurrency field especially when it comes to the world of DeFi. Yearn. Finance has seen astronomical growth ever since it was launched and since July 17th, Cronje has led us to believe that it will announce different projects under Yearn.finance as well under the governance token protocol called YFI.
The potential of the platform as well as YFI’s scarce supply of 30,000 tokens had led to its performance racing the skies. And now after garnering huge success, Cronje has now given an indication that he is working on a Uniswap competitor based on the Fantom Blockchain which could be a big-ticket. Andre Cronje went on Twitter to give a hint about how he was working on Uniswap Alternative. This will be on another chain that needs base layer liquidity.
He also shared the picture of a prospective logo of the upcoming Decentralized exchange as well as the automated market maker. When we looked at it, it seemed like the Uniswap’s logo at one look. This could unravel a few details at what is to come in the near future from the house of Yearn. Finance.
The unicorn’s head has a chef’s hat is a clear indication that the logo is not merely a randomized version but represents Fantom’s logo. Cronje made it clear that it was nothing related to ETH Uniswap but believed that the logo they had designed was extremely cool to look at. As per the latest news, there are no further details on the upcoming release but it is also important to know that Andre Cronje will be listed as a technical advisor to the Fantom project. The Fantom project has major experience with Blockchain development across the entire set of technology stacks. Right from constructing consensus algorithms from the word go, to middleware and full-featured software suite, Fanton projects have built it all.
It has made its consensus entirely compatible with the Cosmos SDK and the Ethereum virtual machine so that announcers could use it in a network that best fits their needs. With the Ethereum Virtual Machines, developers could utilize smart contracts on top of Fantom and allow the projects to port their existing Ethereum dapps to Fantom extremely easily without any hitches.
Uniswap without any iota of doubt is currently the most widely used decentralized swap protocol that allows users to administer and execute quick and permissionless peer-to-peer token swaps. The total value locked in the Uniswap protocol is soon to touch a whopping $2 billion putting it much above most of the DeFi projects as per the estimates of DeFi pulse. The growth came about after Uniswap launched its uni swap token UNI and airdropped it to a whole lot of community. Ever since it launched the token, the TVL has increased by almost 160% projecting as a favorite among liquidity providers.