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29 October 2020

Yearn Finance's founder says he 'doesn't build for speculators'

Yearn Finance's founder says he 'doesn't build for speculators'

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The founder of Yearn finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing people money.

He explained that the mainnet provides the best possible tools and conditions, which cannot easily be replicated locally.

“I have discovered issues on mainnet I never encountered locally, I have failed to replicate mainnet systems locally, and I have encountered errors locally that I can’t replicate on mainnet,” he explained.

In a conversation with Cointelegraph, Cronje said that the reason why his primary projects were never hacked was, "ironically, because I test in prod." With this approach he says he is able to iterate over the real issues that come up, instead of relying on auditors to review pre-production code.

Addressing these issues, Cronje noted, “I don’t build for speculators.” While he said that he could not rationally understand the people who rushed into his test environments, he seems to have conceded that a more pragmatic approach may be needed.

The post follows another instance of people losing money over one of his contracts, an unnamed project often referred to by its token ticker, LBI.

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Bitcoin and Ether Market Update October 29, 2020 | BTCMANAGER
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