Nostra

Richard

Tempus

DeFi

David Vance

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/david-garai-resigns-from-nostra-defi-project/" data-wpel-link="internal">David Garai Resigns from Nostra DeFi Project</a> 
Nostra founder David Garai announced his resignation from his role in the Starknet-based DeFi project just two weeks after the airdrop event. Garai shared in a post on X that he resigned from his CEO position and would return after a break. The Nostra application, supported by developer Nostra Labs, allows users to lend, borrow, swap, and bridge their cryptocurrencies. 
<h2 class="p1" style="text-align: justify" id="famous-executive-s-resignation-decision">Famous Executive’s Resignation Decision</h2> 
Over the past two and a half years, Garai announced that Nostra had become the largest and most profitable protocol on Starknet, generating $2.5 million in annual revenue and locking in over $180 million in total value. According to blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data analysis</a> firm DeFiLlama, Nostra’s current TVL value is $153.4 million, having reached $221.4 million just before the airdrop event. 
Garai stated that Tempus Labs Product Head Richard Thomas-Pryce would take over the daily leadership of Nostra Labs and shared the following: 
<blockquote> 
 “Under Richard Thomas-Pryce’s leadership, Nostra and its 12 full-time developers will continue to develop the product suite, including Nostra Earn. We are well-positioned to lead.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-nstr-front">What’s Happening on the NSTR Front?</h2> 
Garai’s decision came just 11 days after the launch of the NSTR token, prompting some community members to question the timing of his resignation. Garai stated that he had not sold a single token. According to CoinGecko, NSTR’s total supply is 100 million tokens, with a current market cap of $9.6 million. All NSTR tokens were unlocked at launch, with 11% distributed to the community during the token generation event. 
According to Nostra, 25% of the token’s total supply is allocated to the project treasury, 14% to future airdrop events, 26.2% to <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, and 23.8% to the team. The project, described as the fairest launch in <a href="https://en.coin-turk.com/analyst-evaluates-ecbs-interest-rate-cut-and-its-impact-on-cryptocurrencies/" data-wpel-link="internal">crypto</a>, has no vesting period for TGE allocations. 
Nostra’s token dropped by around 4% immediately after Garai’s announcement and then slightly recovered. According to CoinGecko, NSTR is currently trading at $0.0967. Garai concluded his remarks with the following: 
<blockquote> 
 “With significant upgrades coming to accelerate and mature the Starknet network, the time will come. It’s a good time to be cautiously optimistic. I am proud of what we have achieved and what lies ahead.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366105 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/nostra.png" alt="" width="1540" height="1200"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/david-garai-resigns-from-nostra-defi-project/" data-wpel-link="internal">David Garai Resigns from Nostra DeFi Project</a></h5>

David Garai Resigns from Nostra DeFi Project

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