Aiming To Sue Yearn Finance Creator Andre Cronje And Fork YFI Are The Defi Community Members
YFI and defi community. Is it all raining hailstorms now on Andre Cronje? There is more than what we expect. What is the current news on Crypto Cruise Ship “Satoshi”?
What Is The News On YFI?
Upset with Yearn Finance founder Andre Cronje over the mishap with Cronje’s secret Eminence (EMN) project are members of the decentralised finance (defi) community. Before the project was ultimately hacked before the official launch as the Eminence protocol had gathered $15 million.
A group of defi community members plans to sue Yearn Finance founder Andre Cronje, and fork YFI as well according to a recent blog post published on Medium. Since an undercover project that didn’t even launch was drained for $15 million in funds, it was recently reported that there has been a lack of trust in Cronje’s work.
After the incident, Cronje said he was lying low from social media as the project was called Eminence (EMN).
Explaining the blog written by the group dubbed EMN Investigation, it was said they are crowdfunding capital to finance a lawsuit against Andre Cronje, Kirby, and Banteg over the EMN scandal on behalf of the victims.
It was added by the team:
Hyping a surprise launch was Andre Cronje, the founder of Yearn Finance. Deployed by the Yearn Finance deployer was Eminence Finance contracts, as Andre was tweeting and retweeting with liquidity flowing in.
Giving instructions on how to leverage the contracts and promoted Eminence prior to launch, the investigation team says was Kirby, the head of communications at Yearn Finance.
The Findings Of EMN Investigation Team
Accusing of selling tokens bought from the contract to Uniswap right until the contracts were hacked was a group of the Yearn Finance developer, Banteg.
The EMN investigation team detailed that the hacker thereby drained an entire $15 million which had been locked up in liquidity after using a flash loan exploit. As it was misappropriated, the hacker then returned $8 million to Andre. Aiming to bolster the group’s argument was a seething blog post also filled with screenshots, tweets, and market charts.
Ending on November 9, 2020, the investigation group is asking for ETH donations to finance the lawsuit as also the crowdfunding campaign that lasts 30 days. Rewarding them with an airdrop 50% of the supply of a fork of YFI, the group also says that when it forks YFI, it plans to take a snapshot of the donors who helped fund the litigation.
To the victims of the EMN scandal, the other 50% of the supply will be airdropped. The authors conclude that they will create a new defi ecosystem but without the bad actors.
As the YFI3 project was recently revealed by another team of developers, meanwhile another YFI fork is in the making as well. Published on October 9 was the tweet Cronje wrote about lying low from social media and since then the YFI founder has not tweeted.
In A Recent Step Ahead, The Crypto Cruise Ship 'Satoshi' Is To Make Panama Bay Home
Gearing up to set sail from the Mediterranean to Panama where it drops anchor calling the bay its home was the Crypto Cruise Ship called Satoshi. It comes along with 777 cabins which will be therefore auctioned off as condos. For all goods and services aboard, bitcoin will be accepted.
All About The Crypto Cruise Ship ‘Satoshi’
Unveiling The Crypto Cruise Ship called Satoshi was Ocean Builders, a company that builds “seapods” or floating homes for seasteaders.
Anchoring in the Gulf of Panama, it is being prepared to set sail from the Mediterranean.
Coming in an 811 feet long with 12 decks and 777 cabins to be auctioned off as condos are the Crypto Cruise Ship, Satoshi. As Ocean Builders’ website details, it has three restaurants, a juice bar, two cafes, three bars, two pools, four whirlpools, a water park, and more. Alongside US dollars and other forms of payment, bitcoin will be accepted throughout the ship for all goods and services.
The Crypto Cruise Ship Satoshi was formerly a cruise ship called the Pacific Dawn by P&O Cruises Australia according to the Maritime Executive publication. It has been operating with Princess Cruises and P&O Australia, built-in 1991. Recently selling the ship as its business was affected by the coronavirus pandemic was P&O’s parent company, Carnival Corporation.
Saying that his company was scheduled to take delivery of the cruise ship in Nov.4 in the Mediterranean was American bitcoin entrepreneur Chad Elwartowski, COO of Ocean Builders. After Satoshi Nakamoto, the pseudonymous creator of Bitcoin, the ship will subsequently be renamed to Satoshi.
A pioneer in seasteading was Elwartowski. While occupying a sea home off the coast of Phuket last year, he and his Thai girlfriend got into trouble with the government of Thailand. The couple was accused by the Thai government of violating the country’s sovereignty and the Navy seized their home and issued arrest warrants for both of them.
The Concluding Words
Elwartowski was quoted as saying regarding the Crypto Cruise Ship Satoshi:
Here in Panama, we look forward to creating a hub for technology and innovation. Charting new waters in this new frontier, our goal is to figure out how to live sustainably on the sea. Ocean Builder says that vacation rentals will also be available on the ship in addition to permanent residential units.
Auctions for the cabins are scheduled to take place between Nov 5 and Nov 28 as registration has already opened. The move-in date will be in January next year according to Ocean Builders. Acquiring the full ownership of their cabins, buyers will be required to pay a monthly fee to cover operating expenses. Tentatively priced between $25,000 and $50,000 the publication added that the first sale will be for 200 cabins.