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YFI Founder Mocked Polygon Network & Creates Twitter Confusion

Key facts:

The creator of the Göerli ETH faucet ruled out the viability of Cronje’s proposal.

The comments on Twitter before Cronje’s announcement did not wait.

The developer of the Yearn Finance (YFI) token, Andre Cronje, through a message on Twitter, announced a new update of the decentralized exchange multichain.xyz. But it all ended up being a joke against the Ethereum-based network, Polygon.

Cronje, in principle, said in a Twitter message that multichain.xyz was made compatible with Göerli, an Ethereum testnet. He added that also this network would be used as if it were a second layer solution, developments aimed at improving scalability or capacity for off-chain growth.

The founder of YFI made his followers believe, which, since Göerli is a network available for free, holders of the Göerli ETH token could have some kind of profit via faucets.

Shortly after, before the rumors unleashed in the networks, Cronje had to clarify to The Defiant that it was a ‘mockery to the side chains (L1) that ‘pretend’ to be second layers (L2) ».

Cronje thus shares the opinion of StarkWare CEO Uri Kolodny, who specifically mentions Polygon. This executive criticizes to be presented to Polygon as if it were a second layer of Ethereum, when it has to protect its own accounting, which would actually put it in a layer 1 status, he says. The same is true of testnets that protect themselves, as in the case of Göerli.

Because it is a sidechain, it works with its own security system, while in rollups in Ethereum or Lightining Network in Bitcoin (BTC), security depends on mining. A rollup or rolled is based on grouping different transactions of the Ethereum network into one.

Reactions in the networks

Cronje’s words unleashed a wave of tweets. Some showed their bewilderment and others joked that they would now be millionaires.

Social network user Andrew Redden said “Umm, wtf I just read.” Another who manifested was Mudit Gupta, Lead developer of SushiSwap and creator of a Goerli ETH faucet (GoETH), native token of this testnet.

In this regard, Gupta was not convinced to convert Goerli into something other than a testnet. In his view, this “will create a market for GoETH and give it value. That will make GoETH hard to come by for actual testing. ” In that case, you think a new production network could have been launchedsaid the developer.

Controversies around Cronje

This would not be the first time that the founder of YFI has found himself in a controversy.

Last year, CriptoNoticias reported that a group from the DeFi community was planning to sue Cronje, for his involvement and promotion in an incomplete DeFi project that ended in disaster. On that occasion Cronje and three other people were accused of promoting an experimental DeFi project and “a token with no real value”, via Twitter.

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