Andre Cronje - infinite AMA

Sorry to hear that, but yes, that is what we are trying to achieve with base layer economic abstraction (not a relayer layer)

We wrote a bit about it to our letter to the staff; Letter to Fantom Foundation team. A few days ago we shared a letter with… | by Andre Cronje | Dec, 2022 | Medium

It’s one of our milestones for this year

4 Likes

This is truly exciting ! i can’t wait for the day where i can get the most out of Defi & Gamefi products without having to inspect every single line of code and “sign it” button etc…
This is Why Fantom is the leader in this industry !
I love it !

3 Likes

It seems you blame Roosh and Bebis over something even though you clearly state you were well aware of the issue.

I think you need to look in the mirror. I left FTM because of you and your temper tantrums that would send the entire network into a falling knife.

A lot of us were so happy when you were finally gone so you wouldn’t keep manipulating the price of FTM every time you couldn’t control your emotions.

And back to the first paragraph. Grow up and take responsibility for your short comings. You can’t blame people for taking advantage of a shitty project that was whipped out with known problems that you stated you knew about.

Can you just leave again so we don’t have pump and dumps every time you tweet or get emotional?

2 Likes

Did writing this make you feel better? I hope it did, and I wish you can find something positive you are as passionate about.

8 Likes

Hot thread! Thanks,
I have three questions if you may;

  1. I read your reply about fusd above. Additionally, is the team waiting for US stable coin regulations?
  2. fwallet is ok for now but any plan for an updated one that may serve as a defi suite ?
  3. Will FTM gains by gas monetization be locked or vested or staked only option, etc for a period of time?
2 Likes

Good points you just raised there.

Its a double edged sword - do you want to rollout the optimal technology or should we focus on adoption. I think you need both.

We are going through an exponential technology cycle where there will always be the next best thing. But the ones that will survive are technologies that are used by masses, not necessarily the best one. The reason is simple we gravitate towards technologies that are used by masses, even though they may not be perfect/ideal.

You used phones as an example- i would argue you have a good enough phone rolled out now. It let’s you make a call quicker than your competitors :slight_smile: Yes FVM will make it significantly better but there will always be the next best thing, so it’s a never ending cycle.

Speaking of phone, the worlds first camera phone was Kyocera Visual Phone VP-210. Being first is not always good :smile:

3 Likes

No, writing this made me feel nothing. We all lost money when you raged out. No one saw it coming and you made money off of it. Congrats

Also I’d like clarification on why you call out and put blame on people for your mistakes?

2 Likes

I made 0 money, I am happy to have constructive criticism, but please don’t lie.

I did not blame anyone, I pointed out the actors that created the effect. Not sure where you saw blame in my post.

I don’t find this constructive though, so won’t be responding further

4 Likes

Relax now. We know what you are trying to do but go take it elsewhere. We are having some good productive discussions here

2 Likes

Just dropping in to say hi.

I’ve been on Fantom for a couple of years now, It’s home. Last year was painful for a lot of reasons, It makes me happy to see the new level of clarity, and it seems to be healing wounds.

Keep up the good work.

3 Likes

Hi, thanks for the questions;

  1. The team are currently not basing any actions off of US stable coin regulations, but should any occur we will keep an eye out for it and adjust accordingly
  2. There are plans to upgrade fwallet after Account Abstraction is released to be more robust
  3. No lock, teams are free to use them as they need, this is simply a stream of revenue for them, so we don’t want to put limitations on its use
2 Likes

Hi Andre,
This is friggin awesome!! Thank you for this opportunity!

I was curious about your thoughts on the current projects building on Fantom. Are there any dapps on Fantom that you’re excited about?

Hey AC glad to see a thread like this from someone like yourself. In your Medium article, “Fantom: inside financial peek at being a crypto company,” you mentioned this: “5 Jan 2022 — Alameda asks for further cooperation, we pass.”

What kind of further cooperation would’ve entailed and what was the reason you passed? It seems like you dodged a bullet knowing what we know now of SBF of course, but was there anything that felt off about Alameda back then?

1 Like

Hey Andre. Thanks for opening this up. I think this is the most personal you’ve gotten with the community. You blocked me on Twitter as I was pretty vocal criticizing you and the Fantom Foundation, but I wanted to tell you this. It sounds like a healthy balance has been struck and a direction has been found. As a Fantom community member for a few years already, you and the Foundation have change my opinions, earned my respect, and are regaining my trust through your recent communications and I hope you all keep it up. Great work! I’m looking forward to more!

3 Likes

Hi Andre Merry Christmas and a happy new year.

Thanks for opening this ama, the content has been great so far. I have a few questions, if you need any further elaboration just ask.

  1. Early days Barek was making lots of institutional progress with governments in Central Asia. Alot of the comms went quiet after the unfortunate fall of Afghanistan’s government. Can I ask are some of these processes still ongoing? And what key lessons have been learned when dealing with large scale institutions.

  2. Aside from defi, gamefi, and nft’s; there were alot of interesting use cases in development on ethereum after the ico boom which ended up failing due to bandwidth issues and gas fees being too high to make them viable for regular use. (projects that come to mind for me involved proof of location & geocaching) Were there ever any that caught your eye and you thought could work well with low fees and quick finality on Fantom?

  3. Rarity was a very cool primitive by you, still works well to this day. How do you feel about its ongoing community development? And would you ever be interested in adding to it? (More dungeons, story mode, PvP, etc)

All the best

Ninos

2 Likes

Hope you feel better now. But emotions apart, deep inside you do like AC coming back from his little vacation.

Let us make the most while AC is around and until he goes on another vacation. :smiley:

2 Likes

Bro, chill. I’m sorry you bought the farming token at the end of a bull run, but we’re all down bad on this forum and you’re the only one complaining

2 Likes

Some of us avoided things like solidly knowing it would dump to 0, so not all of us :stuck_out_tongue:

sometimes you guys just need to take responsibility for aping into brand new unproven tech

Q for Andre:

When do you expect the team to balloon to 2x the current size of roughly 100 people? How do you expect that to effect runway? Do you have an ideal runway target?

And lastly, are all the reserves stored on FTM? What would be the process if say; multichain collapses, would FTM still have a large runway?

2 Likes

Thanks for your quick and detailed replies. More questions below if you may;

  1. Good medium articles you have, please keep continue those. On “Fantom: an inside financial peek at being a “crypto company””, you listed the general monetary status of the team. Well, you know following ethics of “don’t trust, verify’”, is there any way to verify the numbers ?
  2. I will not ask the name of exchange who asks for 300m $ . But, is the team still in contact to be listed on ?
  3. Can you share some protocol names for various defi strategies of the Foundation? If not, can you share few protocol names you find safe enough for a beginner to defi ?
2 Likes

Hello Andre,

2 parts questions.

I know what the team’s focus (and yours) are on making the chain perfect on different level. My questions tends toward adoption :

  • from having FIAT on my bank account to making a transaction on a protocol on Fantom we have at least 10 to 20 steps. That’s the biggest brake to adoption imo VS web2 where you can order a taxi in 1-click. > on/ramp off/ramp are key for blockchain (adoption, usage) and since your KPIs are based (indirectly) on those. Have you thought of an easier way for user to have access to Fantom ecosystem ? Without going though Cex?

  • fWallet. I think that the fWallet have been designed and created for the sole purpose of Fantom Finance (the old FF knows) but since we have now hundreds of protocols building directly on Fantom and it’s been a real pain to have stakers to vote for governance. Isn’t time to create a “Fantom hub”. Something that looks more like a DApp (Spookyswap) and not a wallet ?

2 Likes