It was a busy week for the decentralized finance ecosystem (DeFi), with many new developments and price actions. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.

CAKE DeFi opened a new venture fund of $100 million to help Web3 initiatives. ThorChain rose above 34% when synthetic assets were activated. Polygon network was also affected by a prolonged outage that negatively impacted its price momentum.