Andre Cronje - infinite AMA

No insurance primitives exist yet. I’ve proposed a few models for money market based insurance, but none have seen deployment yet, it is currently an underdeveloped market.

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Thank you for the response! Is the idea something similar to COVER being an opt out step when depositing to a yearn vault, back in the day? And the insurance premium is just taken as a cut of the yield? This sort of “add on” insurance when depositing or LPing always struck me as potential way forward, similar to getting offered insurance coverage when you buy a new cell phone. It’s all just embedded in the products.

COVER never adopted the design I proposed (one of the myriad of reasons why we parted ways), which is no upfront costs, but ongoing, it uses the same mechanisms as a lending market, I’ve written a bit about it before, its called “protection markets”, simply put, you “borrow” insurance and simply pay the monthly interest rates.

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Andre, truly appreciate you taking time to answer my questions. Found a write up on the protection protocol you mention:

In case anyone else is interested. Looks like this is strictly IL insurance coverage. But very interesting, will definitely dig in.

Not strictly IL, its generalizable to anything, I just used IL cover as a primary example to show you can provide exotic types.

Andre, can you connect some Iron Bank representative with Alpha Homora?
Recently Iron Bank has taken hostage of $ 30 millions in Alpha Homora lending pools (on several chains - FTM chain being one of them + AVAX, OP, ETH). Users have no way to withdraw and Iron Bank does not respond to AH tries to contact them at all.

It seems like the situation needs some well known DeFI OG which both sides do know well, to force them to negotiate and return the users funds which IB is currenly holding now.

Not something I can help with, that being said, that doesn’t sound right. Alpha Homora does not put user assets into Iron Bank, Iron Bank lends assets to Alpha Homora. No way for Iron Bank to, as you say, “take hostage of user deposits”. But again, I’m no longer involved with any defi projects, not something I choose to get involved in.

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This is the official explanation of Alpha Homora why we can’t withdraw from lending pools on FTM and other chains:

  1. Iron Bank changed the config in the smart contract such that lenders cannot withdraw their liquidity. (They changed a parameter called credit limit - basically what Alpha can lend/withdraw from them to 0 - so no one can withdraw assets).

  2. Funds are still in the contract that only Iron Bank controls, and therefore this is an act of misappropriating users’ funds.

OK, I get it - you don’t want to be involved with any DeFi project.

Hey Andre, I read an article discussing the need to make crypto ISO 20022 compliant for banks. Is Fantom intending to do that or is it already? It seems that it is the standard for bank transfers.

HI, how are you? I’m trying to understand account abstraction on Fantom, will it be similar to ERC-4337?

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Any impact on Fantom Foundation treasury based on USDC event recently? Any mitigation and contingency plan?


$13m in USDC as can be seen by the on-chain addresses;

Relatively small amount in comparison, so we aren’t worried. Also, Circle has more than enough funds to carry the risk, so not worried about the current depeg, no need to do any mitigation or contingency. Crypto people are just PTSD triggered because of Luna/FTX/3ac, this isn’t the same. Circle itself didn’t fail, just a part of the machine, unlike the other events. For the rest, it was complete systemic failure.


Hmm, but in similar situation USDT were sold at a loss. You think it was worse for tether then?

Can’t comment on this, don’t have first hand knowledge. Also, lets keep discussions related to Fantom please.

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Are you planning at some point to come back and improve what was left behind with Solidly?

Hi, I just wanted to ask some general questions about FVM and Fantom.

1.) Will FVM inherit many properties of EVM chains such as limits of size of smart contracts?
2.) Will FVM decrease transactions fees?
3.) How are the transactions fees received in gas monetization?
4.) If I split my contracts into multiple parts to help fight the limit of EVM chains, will they all still be eligible for gas monetization?
5.) How will FVM operate differently other than reducing storage size and speed?

Sorry, I am new to the fantom chain, thank you!

Nope, it achieved what I set out to achieve, it proved the x3y+y3x curve and proved the bribe / fees switch with ve lockups. My Dapp days are also over, just focusing on the base layer now, not planning on working with smart contracts again.

Great questions, I’ve asked the team to add a few comments as well for anything I missed;

High level, we are keeping it Solidity / Vyper compatible, moreso than EVM compatible. We are making changes to opcodes and storage.

1.) With the storage changes, we no longer need this limitation
2.) From the current baseline, yes, drastically, but since fees are an auction model, this does not mean that fees can’t reach the same levels at some future point based on demand, rather, you can perform more operations for less gas, which allows for much more complex interactions
3.) 15% of the total gas fee spent is sent to the designated recipient
4.) Yes, any contract is eligible, even if split amongst many sub contracts
5.) The primary goals are storage size and speed as that translates into more complex code primitives. Not much more to improve in an VM other than storage / speed

Welcome to Fantom

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Hi Andre, I am curious that whether competitors able to copy the FVM technology easily and outperform FTM with their bigger community and partners?

Has FFDN file a patent for it? Or it is protected by design itself?

They said it would be patented and I don’t believe the code will be publicly available.

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