Diego Oliva, the first CEO is stepping down after successfully expanding the organization and launching key programs.
A scalable solution for Ethereum’s Layer-2 Starknet is now going through a significant leadership shift, as the Starknet Foundation has recently announced that Diego Oliva, the company’s first CEO will be leaving the company.
Diego Oliva, who has been at the helm since March 2023, is stepping down following a successful period highlighted by strong organizational expansion and the launch of key programs.
In a momentous leadership move, the Starknet Foundation, which is responsible for the Ethereum Layer-2 scaling solution known as Starknet has made the announcement available.
Starknet Foundation Leadership Change
Since March 2023, Diego Oliva has been serving as the foundation’s first Chief Executive Officer. Since then, he has decided to step down from his role. James Strudwick, a former foundation employee will take over as Executive Director starting in January 2024.
Under Diego Oliva’s leadership, the foundation went from having two part-time employees to having over thirty full-time professionals working for it. Diego Oliva successfully established a robust team and organizational framework.
Because of his leadership, the foundation was able to initiate a number of significant projects, including the Provisions project and ecosystem development programs like DeFi Spring, Seed Grants and the Catalyst and Propulsion programs.
Oliva’s business history and personality significantly contributed to the establishment of the foundation’s core beliefs and the effectiveness of its operations.
In addition, the foundation has made significant progress in infrastructure construction, as evidenced by the signing of contracts with more than one hundred teams and the expansion of programs such as Basecamp and Hacker Houses.
In addition to his work on DeFi, Layer 1, and Layer 2 scaling projects, James Strudwick, who will soon take over as Executive Director, brings a wealth of information and experience related to Web 3.
Through his tenure as Head of Ecosystem Growth at the Starknet Foundation, which began in January, Strudwick has shown exceptional abilities in the areas of leadership and community relations.
In order to ensure a seamless transfer, Oliva will continue to work for the foundation over the course of the following month.
As they continue to concentrate on expanding the Starknet ecosystem and increasing its acceptance, the board of directors of the Starknet Foundation has expressed their appreciation for Oliva’s achievements and their excitement about Strudwick’s new role of responsibility.
ZKX Protocol Suspends Operations
ZKX Protocol, a derivative protocol based on the Starknet Layer 2 scaling solution, has announced the suspension of activities. Starknet is involved in this development.
According to Eduard Jubany Tur, the company’s founder, the fundamental reason behind this decision was that the company was not economically viable. Despite efforts to prevent this outcome, the number of individuals mining STRK and ZKX rewards has been relatively low.
The protocol has battled with minimal user participation. As a result, trading volume and daily revenue have plummeted to the point where daily income barely covers cloud server expenses, let alone salaries and other operating costs.
These developments highlight both the community’s progress and challenges as the Starknet ecosystem thrives in the competitive environment of Ethereum Layer 2 scaling solutions.
