- Nostra CEO resigned.
- This development comes less than two weeks after the launch of the project’s token.
- Some users questioned the timing of the CEO’s departure.
David Garay resigned as CEO of Nostra on Friday, just two weeks after the Starknet-based decentralized finance (DeFi) project launched its utility token, NSTR.
Garai founded Nostra as a cryptocurrency “dinner app” where users can buy, sell, stake, lend, and borrow digital assets in one place. According to Garai, Nostra has become one of the most profitable protocols on Starknet, with $2.5 million in annual revenue and $180 million in TVL (total value locked).
David Garai leaves Nostra
On June 28, Garai announced his resignation through X (Twitter).
“I have resigned as CEO of Nostra.” Garai wrote. 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.”
According to the post, Richard Thomas-Pryce, head of product at Tempus Labs, will succeed Garai and oversee current product development at Nostra Labs.
“Under the leadership of @RTPthefirst, Nostra (and its 12 full-time builders) will continue developing the product suite for the Super App, with Nostra Earn coming soon, as well as STRK liquid staking, for which Nostra is well positioned to be the frontrunner,” Garai said.
Although Garai assured users of Nostra’s future, his resignation raised eyebrows as it came just 11 days after NSTR tokens were launched as an airdrop with no vesting period. “I didn’t sell a single token,” Garai responded to user X, who questioned the timing of his resignation.
The Nostra team was allocated 25% of NSTR’s total supply of 100 million tokens.
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