Editors Note: This article comes fromBlocklike（ID：iblocklike）, reprinted by Odaily with authorization.
Editors Note: This article comes from
, reprinted by Odaily with authorization.
From Pickle, Cream, Cover, Keep3r, to Sushi, which was announced to be acquired yesterday, AC is called Li Jiaqi in the currency circle.
Behind a series of mergers and acquisitions, the DeFi kingdom of AC Group has revealed the tip of the iceberg.
Various speculative funds have targeted Andre Cronje.
Andre Cronje has become famous since the first battle of yearn.finance (YFI), and has become famous in the DeFi field.
Among the projects that intersect with AC, from Pickle, Cream, Cover, Keep3r, to Sushi, which was announced to be acquired yesterday, each time it has attracted the attention of the entire market. Behind the recent series of mergers and acquisitions, the DeFi kingdom of AC Group has revealed the tip of the iceberg.
How did DeFi Milk King Andre Cronje become?
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Fight to Fame YFI
AC studied Law at the University of Stellenbosch, South Africa. Driven by interest, he taught himself programming and entered the field of computing, and reportedly completed a three-year computer science course in 6 months. In his blog post, AC considers himself no background, just a developer.
In 2017, blockchain technology became the object of observation in mainstream society. This distributed technology solution has also successfully attracted AC. The first project he developed was CryptoCurve, a digital currency wallet on Wanchain, but due to the poor digital currency market in 2018, this project failed to persist. Since 2018, AC has updated the column in Crypto Briefing and reviewed many projects in depth.
When the trend of liquidity mining came, AC found that the workload of manually analyzing the returns of all pools was too much, so it automated the analysis and calculation of the returns of protocols such as Synthetix, Compound, Balancer, and mStable, and finally became the well-known yearn. finance.
The initial impression of the entire digital currency market on AC is the first 10,000-fold coin YFI (yearn.finance) in 2020.
In July 2020, AC officially launched the governance token YFI issued by yearn.finance. When YFI was initially market-making on Balancer, the price was only $3. A week after the token was issued, the highest price exceeded $4,500. It only took 43 days for YFI to grow to 10,000 times.
YFI’s token distribution is completely realized through liquid mining, no private placement, no pre-mining, no institutional investors, no team share, because of its “encrypted” color, it became a hit, although AC has published many times hint
The currency has no value, but it still cannot stop the enthusiasm from the community.
In the field of DeFi, we-media Exploration Cat once wrote an article saying: The birth of YFI has brought the development of DeFi to a new level, and made an entrepreneurial project suddenly zero distance from the worlds capital. Now the second phase of the popular DeFi project is Constructed in this way, this is an evolution: a very innovative project with practical use, which can have a large number of real user functions, plus a very powerful governance token (the best model is 100% unreserved mining mine).
The positive views from the community represented by Exploration Cat believe that what AC brings is an excellent innovation, Now we are in the embryonic stage of the new blockchain 3.0, which is the second stage of DeFi development (the first stage is In June of this year, the DeFi frenzy triggered by Compound was launched), the first thing must be to complete the historical process of transferring users from the old currency circle to users in the new currency circle, and through liquidity mining, a siphon effect will be formed to complete the transfer from old to new.”
While yearn is considered to have opened up a new situation in DeFi, the astonishing increase of YFI has also pushed AC to the forefront in one fell swoop. The menacing DeFi wave has gained him a high reputation, but it has also made him one of the sources of uncertainty and unknown risks for YFI.
Subsequently, a large loophole occurred in Eminence, a game project associated with YFI and Andre, which affected funds of up to 15 million US dollars. This time caused AC to receive widespread accusations from the community, and foreign media reported that some extreme users even issued death threats to him. This incident has had a considerable impact on AC. He, who was once active on the front line of the DeFi topic on Twitter, has been silent for a long time.
Apart from these small episodes, since YFI, AC can still be called an active DeFi developer. In the projects he has participated in or developed, there are many excellent ideas, and there are also some rollover scenes. However, most of the time, everyone is still lamenting its outstanding ability to carry goods.
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Milk Kings output
DeFi He Taiji, a blogger in the DeFi field, commented: The correct approach for the DeFi industry is to cooperate in depth between protocols, avoid reinventing the wheel, and avoid going it alone. Maximize composability and share resources and liquidity. An excellent way to build a moat in the open source world. Plagiarists can fork the code, but not the network. YFI seems to be at the forefront of this point. I don’t know who will be integrated next? Pay attention to short-term opportunities and pay attention to AC’s Twitter, When he tweets, it will explode.
Cryptocurrency enthusiasts are well aware of this ability:
On September 27, AC tweeted to praise ERC-1155, and the related concept currency ENJ rose accordingly. AC was named Market Leader.
On November 24th, AC tweeted to announce a cooperation with Pickle (cucumber), and Pickle doubled in a short time. While many communities are in a hurry to find the reason for the rise, overseas big Vs have called him the Godfather of DeFi.
On December 1, AC tweeted that it announced another hot news: yearn.finance will officially cooperate with Sushiswap, and Sushi raised its price by 30%.
With the recent news of mergers, acquisitions, alliances, and cooperation released by AC, the community has sorted out the AC concept currency:
(picture from the community) image description (picture from the community) According to incomplete statistics, several highlighted projects that AC participated in the development include: Eminence ( EMN ): AC here proposes the new economy of the game multiverse. The project has already received tens of millions of dollars in funding during the testing phase. However, due to the large amount of funds, the project was attacked by hackers, resulting in zero EMN. LBI: According to the introduction of AC, LBI uses liquidity governance to offset the impermanent loss problem faced by AMM. Some geeks entered the market early by calling the contract address posted at the end of the AC article, pushing up the price up to 200 times. However, when ordinary investors entered the market later, the price of LBI plummeted. yinsure.finance: A prototype for a new tokenized insurance while funding team building in the yearn ecosystem. Synthetic Rebase Dollar: A concept proposed by AC, which aims to create a mortgage-type stable currency that adjusts with the token price. StableCredit: A protocol for decentralized lending, stablecoins and AMMs. Users can provide any asset (such as ETH) to StableCredit, and according to the value of the asset, an equivalent amount of tokens will be issued in the form of StableCredit USD. Keep3r: It is a decentralized Keeper task network. On the one hand, some smart contract projects require external entities to help solve devops tasks. On the other hand, some external entities (individuals or teams) can get paid for completing corresponding tasks. After just reaching a cooperation with Sushiswap, the Andre Cronje team also stated that Sushiswap, Yearn, Keep3r, Cream Protocol, Cover Protocol, etc. will form a complementary relationship and cooperate to launch Deriswap. Regardless of whether the controversy over AC is expanding, he has become the DeFi milk king in the hearts of many investors. It is worth noting that in the face of multiple recent merger announcements, AC also published an article titled Mergers, Acquisitions, Cooperation and Collaboration - Nomenclature in the Decentralized Field. In the case he gave, he mainly described the talent merger with Pickle, the cooperation related to the integration of development resources, the cooperation and alliance with Cream, and the sharing of development resources with Cover, etc. A series of actions by AC have made many concerned investors see a new signal: to integrate the worlds top developers by merging high-quality projects that have already taken shape, and to form a global DeFi resource group. The various big mergers that AC has done are mainly the big mergers of the worlds top developers to optimize the human resources of the whole society. In the future, I guess it is likely that Keep3r will be used to realize the integration of global developers. The second wave of DeFi It is likely that it was promoted by the group with AC as the core, and this is the direction of innovation-driven DeFi evolution,” Exploration Cat analyzed Blocklike.
