{"id":89842,"date":"2020-10-15T16:06:00","date_gmt":"2020-10-15T13:06:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/yearn-finances-founder-says-he-doesnt-build-for-speculators\/"},"modified":"2020-10-15T16:06:00","modified_gmt":"2020-10-15T13:06:00","slug":"yearn-finances-founder-says-he-doesnt-build-for-speculators","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/yearn-finances-founder-says-he-doesnt-build-for-speculators\/","title":{"rendered":"# Yearn Finance\u2019s founder says he \u2018doesn\u2019t build for speculators\u2019"},"content":{"rendered":"

“# Yearn Finance\u2019s founder says he \u2018doesn\u2019t build for speculators\u2019 <\/strong>”<\/p>\n

The founder of Yearn Finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing users\u2019 money. Cronje defended himself in a blog post<\/a> and explained why he believes he shouldn\u2019t be held responsible for those who \u201cape in\u201d his testing contracts.<\/p>\n

Cronje will often place large disclaimers urging people to treat them with caution and not just go in because he built it. Little can be done to prevent this, given the permissionless nature of these products. Nevertheless, Cronje was sometimes criticized for not deploying contracts on testnets, where no real money could be lost. His \u201cI test in prod\u201d adage also turns some people away, as it seems to imply a careless attitude toward security.<\/p>\n

Cronje explained that he does in fact test software in multiple stages. \u201c[The statement] exists to deter people from just using systems without investigation. It does not mean that I don\u2019t test,\u201d he wrote.<\/p>\n

Before a contract makes it to the mainnet, it goes through a rigorous process of unit, interaction and composite testing. These make sure that each part of the contract is working as intended, down to individual functions.<\/p>\n

However, a key part of that process is testing in production to achieve the most realistic conditions. He explained that the mainnet provides the best possible tools and conditions, which cannot easily be replicated locally. \u201cI have discovered issues on mainnet I never encountered locally, I have failed to replicate mainnet systems locally, and I have encountered errors locally that I can\u2019t replicate on mainnet,\u201d he explained.<\/p>\n

Furthermore, there are many versions of existing products like Yearn Finance that were deployed to the mainnet without being discovered. \u201cThere are over 22 \u2018yearns\u2019 on ETH mainnet. There are over 5 \u2018YFIs\u2019 on ETH mainnet,\u201d he added. In a conversation with Cointelegraph, Cronje said that the reason why his primary projects were never hacked was: \u201cIronically, because I test in prod.\u201d With this app<\/a>roach, he says he is able to iterate over the real issues that come up, instead of relying on auditors to review pre-production code. \u201cAnd if people just wait till I actually launch the product, all will be fine,\u201d he added.<\/p>\n

One case of people getting burned on Cronje\u2019s smart contracts involved one of these testing playgrounds, which were still at least a few weeks away from public release.<\/p>\n

Addressing these issues, Cronje noted, \u201cI don\u2019t build for speculators.\u201d While he said that he could not rationally understand the people who rushed into his test environments, he seems to have conceded that a more pragmatic approach may be needed. \u201cI have more thinking to do on this,\u201d he concluded.<\/p>\n

In the meantime, he pledged to not use his well-known deployer address to conduct further tests. Given the number of previous contracts that went undiscovered, this may be enough to prevent further unfortunate occurrences.<\/p>\n

The post follows another instance of people losing money over one of his contracts, an unnamed project<\/a> often referred to by its token ticker, LBI. The contract was deployed on the mainnet on Oct. 13 and immedia<\/a>tely triggered a torrent of people putting their money into it, with many calling it \u201cthe new YFI.\u201d<\/p>\n

It was not the new YFI. Source: <\/em>ChartEx<\/em><\/a><\/figcaption><\/figure>\n

The token\u2019s price fell immediately after, with many stories of people losing small fortunes over it. A barrage of criticism against Cronje was levied by many market participants, blaming him for the loss. It\u2019s worth noting that this price decline was not the result of any kind of malfunction, as the contracts themselves were not compromised.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Yearn Finance\u2019s founder says he \u2018doesn\u2019t build for speculators\u2019 ” The founder of Yearn Finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing users\u2019 money. Cronje defended himself in a blog post and explained why he believes he shouldn\u2019t be held responsible…<\/p>\n","protected":false},"author":1,"featured_media":89843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/974aa288-a968-45ef-aac4-2f8f3369f863.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74891,74882,4965],"class_list":["post-89842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-ethereum","tag-hacks","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/89842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=89842"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/89842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/89843"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=89842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=89842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=89842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}