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André Cronier Launches New Deriswap DeFi Protocol

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Yearn.Finance Founder Launches New Deriswap Protocol

André Cronier Launches New Deriswap DeFi Protocol

André Cronier Launches New Deriswap DeFi Protocol
CONTENT

  • Yearn.Finance Founder Launches New DeFi Protocol.

  • New Platform Aims To Combine Key Elements Of DeFi Including Swaps, Options And Loans.

  • The platform has not yet been audited and does not have its own token.

International consortium of news organizations developing transparency standards.

The founder of the sensational project Yearn.Finance has launched a new protocol in the decentralized finance segment, called “Deriswap”.

André Cronier Launches New Deriswap DeFi Protocol

André Cronier is widely known in the crypto community as the founding father of one of the loudest DeFiDecentralized finance (DeFi) is a financial services built on blockchain technology that offer users access to an open, efficient and … More-projects – Yearn Finance. However, apparently, Cronier’s credo is never to stop there. Today, November 23rd, he announced the launch of a new project on Twitter..

New protocol …

Recently, Cronier has already intrigued crypto market participants with hints that he is working on a project related to options. However, the actual announcement exceeded the expectations of many observers..

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Deriswap: Capital efficient swaps, futures, options, and loans https://t.co/5QZLOBobZd

– Andre Cronje (@AndreCronjeTech) November 23, 2020

Called Deriswap, the project consolidates core DeFi market segments such as swaps, options, futures and loans on one platform. As Cronje himself commented, Deriswap will create a consolidated and efficient capital market, as well as give users the opportunity to receive new rewards.

André Cronier Launches New Deriswap DeFi Protocol

Crypto community members commented positively on the project, noting the innovative nature of the new platform, “since currently users are forced to choose between separate services, be it Uniswap, Opyn, Aave, etc.”.

… New scammers

The platform is currently undergoing an audit process and does not have its own token. However, this still did not stop the scammers, who did not hesitate to activate immediately after the announcement, offering their own token. As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More.

This is not the first time Cronier’s new projects have attracted high interest from investors, and this is regularly used by cybercriminals. Earlier, the editorial staff of BeInCrypto already talked about how reckless DeFi farmers poured $ 15 million into the unverified and not even released Eminence Finance protocol. As a result, all this money became the prey of a hacker. As a result, the crypto community even started a fundraising campaign in support of a lawsuit against Yearn Finance and Cronje himself..

Read also: Decentralized horror: how the DeFi sector scared us this year

The new project was no exception. As one of the users warned on his Twitter, “not even 30 minutes have passed since Andre made his announcement about Deriswap, and someone has already created a fake $ DWAP token”, and some gullible investors have already lost their money.

André just gave an update about deriswap 30 mins back. Someone created a fake token called $ DWAP. 60 addresses in less than 15 mins with 150+ ETH.

Aaaaanddd its gone.

Take few mins to hover around etherscan before u jump, it’s not that hard.

– halfapple (@ icefrog772) November 23, 2020

André Cronier Launches New Deriswap DeFi Protocol

In this regard, he called on:

“Before diving headlong, take a few minutes to check in Etherscan, it’s not difficult at all.”.

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