The post Andre Cronje Becomes New FTM CTO Experience Save FTM appeared on BitcoinEthereumNews.com.

According to a press release, Andre Cronje, the founder of Yearn.Finance and an experienced DeFi developer is now the new FTM Chief Technology Officer (CTO).  The experienced DeFi founder takes over from Quan Nguyen. In five short months, FTM, the native coin of the Fantom Network, has been in free fall. In summary, the token is down a massive 70% from March highs but is presently stable, following a stream of supportive fundamentals. A big part of the recent turnaround is due to a recovery in DeFi and capital flowing into the sector.  According to DeFiLlama data, all DeFi protocols across multiple blockchains manage over $84 billion worth of assets.  Though Ethereum leads, over $128 million of digital assets are tied to the interoperable Fantom Network reading from DeFiLlama. Sonic (Formerly Fantom) Appoints Andre Cronje As CTO As DeFi TVL stabilizes in the Fantom Network, though significantly lower than in 2021, attention has been paid to the change in leadership at Sonic (previously Fantom) Labs. According to a press release, Andre Cronje, the founder of Yearn.Finance and an experienced DeFi developer is now the new Chief Technology Officer (CTO). The DeFi founder takes over from Quan Nguyen. Cronje will spearhead the design and development of the blockchain with a keen focus on building a new bridging technology, The Sonic Gateway. This bridge aims to ensure that Sonic is interoperable and users can move tokens across multiple blockchains, including Ethereum. Only time will tell how FTM evolves, looking at the development in the daily chart. As of mid-August, FTM is up 52% from August low. Most importantly, the token appears to be absorbing the selling pressure of the last five months. Impact Of The Multichain Hack, Efforts To Revive FTM And Sonic Ecosystem Following the Multichain hack in 2023, the Sonic…

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Filed under: News - @ August 16, 2024 5:26 pm