Nostra

Richard

David

Decentralized finance (DeFi) application Nostra Finance is under new leadership following the departure of its former CEO.&nbsp;
David Garai announced on June 28 that he was stepping down as CEO less than two weeks after the launch of the Nostra (NSTR) token. The token went live with an airdrop on June 13 without a vesting period.
 “I have resigned as CEO of Nostra,” Garai said on social media platform X, without commenting on the reasons behind his decision. “I’m taking a lil break for the first time in 4 years and then I will be back. Stay tuned for my future plans.”
The company will now be led by its head of product, Richard Thomas-Pryce. 
Nostra offers a range of DeFi services, including lending, borrowing, swapping and bridging cryptocurrencies. It aims to be a “crypto super app,” promising users to manage all their crypto needs within a single platform. Nostra is built on and powered by Starknet’s infrastructure. 
<h3 id="nstr-token-plunges">NSTR token plunges</h3>
Following the news, the NSTR token has declined almost 6%, trading&nbsp;at $0.93 at the time of writing.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-06/1b6a1280-878c-4d2a-af13-9f37faec3951.png">
 <figcaption style="text-align: center;">
 NSTR 24-hour performance on June 28. Source: CoinMarketCap
 </figcaption>
</figure>
The token airdrop was announced on June 4 as part of efforts to reward early adopters. The platform made 11% of its $100-million token supply fully unlocked, allowing immediate access and conversion. 
Garai’s announcement sparked questions about the time of his resignation, with some on X asserting that he “dumped on the community.” In response, Garai <a href="https://x.com/davgarai/status/1806693389624295764" target="_blank" rel="noopener nofollow">wrote</a>:
<blockquote data-ct-non-breakable="true">
 “To those who are trying to make a connection between the unlocked launch and my resignation: this is complete bullshit. I have not sold a single token and do not plan on doing so.”
</blockquote>
Nostra is said to be the “most profitable” protocol on Starknet, with $2.5 million in annual revenue. Data from DefiLlama <a href="https://defillama.com/protocol/nostra" target="_blank" rel="noopener nofollow">shows</a> a total value locked of $151.36 million on Nostra. 
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/polygon-anurag-arjun-avail-ethereum-x-hall-of-flame/">Polygon never set out to beat Ethereum: Anurag Arjun, X Hall of Flame</a>

Nostra CEO steps down just days after token launch

Table of Contents

Cointelegraph

Outros artigos publicados em 28 de jun. de 2024

ETFs Boost ETH Value Significantly

Matt Hougan Shares the Timeline for Solana and XRP ETF

EMA Level Signals Bullish Rally for SHIB and BTC

MoonBag Takes The Lead In Scalability War Against Cardano and Notcoin in the Best Meme Coin Presale

Logan Paul Sues Coffeezilla for Defamation Over CryptoZoo

Bitcoin activity drops to lowest level since 2010

Join our free newsletter for daily crypto updates!