Andre Cronje says DeFi is ‘no longer DeFi’ as builders debate circuit breakers
Flying Tulip’s Andre Cronje says circuit breakers can give teams time to respond during abnormal outflows, while Curve’s Michael Egorov warns they may create new human vulnerabilities.
Andre Cronje says much of decentralized finance is “no longer DeFi” in the strict sense, as builders debate whether circuit breakers and other emergency controls are now necessary to protect users from exploits.
The Flying Tulip founder told Cointelegraph in an interview that many protocols are no longer immutable public goods, but rather “teams running for-profit businesses” with upgradeable contracts, offchain infrastructure and operational controls.
That shift changes the security model, he said. While early DeFi protocols were mostly defined by immutable smart contracts, newer systems often depend on proxy upgrades, multisigs, infrastructure providers, admin processes and human response teams, according to Cronje.