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Cronje Ditches 'DeFi', Introduces 'On-Chain Finance' Amid Governance Concerns

Guavy AI Editorial Team
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Andre Cronje, founder of Flying Tulip, is reevaluating what he calls DeFi (Decentralized Finance). He argues that many current protocols no longer meet his definition of true decentralization.

Cronje's new term, 'on-chain finance,' acknowledges the presence of intermediaries and centralized control in some DeFi systems. This shift reflects concerns over governance concentration and the need for flexibility during market crises.

According to DefiLlama data, the total value locked (TVL) in DeFi dropped by 54.8% between October 5, 2025, and August 13, 2026. This significant decline has raised questions about the future of decentralized finance.

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