Andre Cronje Criticizes Fantom-Based Project Over Open Source Controversy

In the realm of cryptocurrency, a notable revelation emerged on October 3, as Andre Cronje, the renowned director of the Fantom Foundation and current CTO at Sonic Labs, highlighted an intriguing development on social media. He disclosed encountering a project boasting both a $1 billion Total Value Locked (TVL) and a $1 billion Fully Diluted Valuation (FDV). Cronje observed that the project had leveraged the open source code he authored under the GPL3 license, subsequently transformed into a restrictive BUSL license. While Cronje exhibited a willingness to forgo recognition or association, he critiqued the project’s practices, emphasizing the ethical implications of capitalizing substantially on what was once openly accessible. His insights shed light on the evolving dynamics of the crypto space, where the adaptation of open-source frameworks is reshaping industry norms and financial gains surpass initial expectations.