The Phantom Foundation has responded to the news of Andre Konze’s exit from crypto. The announcement, made early on Sunday, found that Anton Nell and Andre Konze had announced their withdrawal from crypto and decentralized finance (DeFi) and any contributions to it. This has shocked the community as it has apparently come out of nowhere, leaving many questioning the fate of the blockchain.

The Phantom Foundation was quick to respond to and address these concerns, assuring the community that the exit would not harm the development of the project in any way. The foundation explained that Konze’s contribution to crypto was immense, but that Phantom was not a “one-man team”, meaning that the departure of a single god would in no way derail the project.

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In addition, the Phantom Foundation added that Konze did not have a “core dev”. The project will continue to grow as there are more than 40 people who have worked tirelessly for the success of the network. In addition to the hundreds of developers and 100K + unique addresses that continue to transact on the network every day.

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The foundation described Konze as a “big picture guy” who worked closely with the CEO, but noted that his decision to leave the crypto world would have no effect on the network. The Foundation explains that the development will continue as scheduled and that significant upgrades are expected in the short term.

Why is Andre Konze leaving the Phantom?

Konze was a significant figure in the Phantom community until 2018 due to his involvement and contribution to the development of the network. He furthered popular projects such as Yarn Finance (YFI) and the Keep 3R network, among others, further consolidating his role as a key player in the Phantom Network. For this reason, Dev’s departure came as a shock.

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In one Announcement In what was posted on Twitter, Anton Nell explained that he and Konze decided to leave Crypto and Defy. Explaining the reasoning behind it, Nell said it was “not a knee-jerk reaction to the hatred that comes from publishing a project, but a decision that has been coming for a while.” This means that they have been planning to leave for some time.

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After the announcement, the price of the project that Konze was involved in dropped. Fantom’s FTM token dropped 8% from $ 1.5 to 3 1.39, and YFI dropped from K 20K to $ 17K, erasing the value of $ 3k. These tokens have since begun to find balance but continue to suffer the effects of the news

Phantom (FTM) price chart from TradingView.com

FTM tumbles after Nell's announcement | Source: FTMUSD on TradingView.com
Featured image from CryptoWisser, chart from TradingView.com



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