Ethereum Layer-2 scaling solution Starknet is undergoing a pivotal leadership transition as the Starknet Foundation announces the departure of its inaugural CEO, Diego Oliva. Oliva, who has been at the helm since March 2023, is stepping down after a successful tenure marked by significant organizational growth and the launch of key initiatives.

Starknet Foundation Leadership Change

The Starknet Foundation, responsible for the Ethereum Layer-2 scaling solution Starknet, has announced a significant leadership transition. Diego Oliva, who has served as the foundation’s inaugural CEO since March 2023, is stepping down from his position. James Strudwick, who joined the foundation in January 2024, will take over as Executive Director.

During his tenure, Oliva successfully established a robust team and structure for the foundation, growing it from two part-time employees to a staff of over thirty full-time professionals. Under his leadership, the foundation launched several key initiatives, including the Provisions project and ecosystem development programs such as DeFi Spring, Seed Grants, and the Catalyst and Propulsion programs.

Oliva’s entrepreneurial background and character were cited as crucial factors in building the foundation’s values and operational efficiency. The foundation has also made significant strides in infrastructure development, signing deals with over 100 teams and scaling programs like Basecamp and Hacker Houses.

James Strudwick, the incoming Executive Director, brings extensive web3 experience, including work on DeFi, Layer 1, and Layer 2 scaling projects. Since joining the Starknet Foundation in January as Head of Ecosystem Growth, Strudwick has demonstrated strong leadership and community-building skills.

To ensure a smooth transition, Oliva will remain with the foundation for the next month. The Starknet Foundation board has expressed gratitude for Oliva’s contributions and enthusiasm for Strudwick’s new role as they continue to focus on growing the Starknet ecosystem and its adoption.

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ZKX Protocol Suspends Operations

In a Starknet related development, ZKX Protocol, a derivatives protocol on the Starknet Layer 2 scaling solution, has announced the suspension of its operations. Founder Eduard Jubany Tur cited a lack of economic viability as the primary reason for this decision.

Despite efforts to prevent this outcome, the protocol has struggled with low user engagement, with few people mining STRK and ZKX rewards. This has resulted in decreased trading volume and daily revenue, to the point where daily income barely covers cloud server expenses, let alone salaries and other operational costs.

These developments highlight both the progress and challenges within the Starknet ecosystem as it continues to evolve in the competitive landscape of Ethereum Layer 2 scaling solutions.

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The post Starknet Foundation CEO Diego Oliva Steps Down appeared first on CoinGape.

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Filed under: News - @ August 6, 2024 4:25 pm