Nostra

Richard

David Vance

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/david-garai-resigns-from-nostra" data-wpel-link="internal">David Garai Resigns from Nostra</a><br></p>
<p style="text-align: justify">David Garai, the founder of Nostra, has stepped down from his position at the Starknet-based DeFi project just two weeks after an airdrop event. In a message posted on X, Garai announced his resignation from the CEO role, stating he plans to return after taking a break. The Nostra <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">application</a>, backed by Nostra Labs, allows users to lend, borrow, swap, and bridge cryptocurrencies.</p> 
<h2 id="leadership-transition-at-nostra">Leadership Transition at Nostra</h2> 
<p style="text-align: justify">Over the last two and a half years, Nostra emerged as the largest and most profitable protocol on Starknet, generating $2.5 million annually and locking in $180 million in total value, according to Garai. Blockchain data firm DeFiLlama reported Nostra’s current Total Value Locked (TVL) at $153.4 million, a decrease from $221.4 million before the airdrop event.</p> 
<p style="text-align: justify">Garai confirmed that Richard Thomas-Pryce, Product Head at Tempus Labs, would assume the daily leadership of Nostra Labs. He stated, “Under Richard Thomas-Pryce’s leadership, Nostra and its 12 full-time developers will continue to develop the product suite, including Nostra Earn.”</p> 
<h2 id="what-are-the-implications-for-nstr-token">What Are the Implications for NSTR Token?</h2> 
<p style="text-align: justify">The resignation came merely 11 days after the launch of the NSTR <a href="https://en.bitcoinhaber.net/cryptocurrencies-suffer-ongoing-decline" data-wpel-link="internal">token</a>, raising questions among the community about the timing. Garai assured he had not sold any tokens. According to CoinGecko, NSTR has a total supply of 100 million tokens and a current market cap of $9.6 million. All tokens were unlocked at launch, with 11% distributed during the token generation event.</p> 
<p style="text-align: justify">Nostra allocated the token supply as follows: 25% to the project treasury, 14% to future airdrop events, 26.2% to <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>, and 23.8% to the team. The project claims to have the fairest launch in the crypto sector, with no vesting period for TGE allocations.</p> 
<h2 id="key-takeaways-for-users">Key Takeaways for Users</h2> 
<p style="text-align: justify"><strong>User-Usable Inferences</strong></p> 
<p style="text-align: justify"> – Keep an eye on Nostra’s leadership changes as it could impact project direction.<br> – Monitor NSTR token performance, especially in light of recent events.<br> – Evaluate the allocation strategy to understand potential future airdrops and investor actions. </p> 
<p style="text-align: justify">Following Garai’s announcement, Nostra’s token experienced a 4% drop but rebounded slightly. Currently trading at $0.0967, according to CoinGecko, Garai concluded by expressing optimism for the future, pointing to significant upgrades that will mature the Starknet network.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/david-garai-resigns-from-nostra" data-wpel-link="internal">David Garai Resigns from Nostra</a></h5>

David Garai Resigns from Nostra

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