Starknet Appoints James Strudwick as New CEO as Diego Oliva Steps Down

Diego Oliva, who has led the Starknet team since March 2023, is stepping down and James Strudwick will take over as CEO. The company's management changed during a period of difficulties that the Starknet ecosystem has been facing for a long time.

Starknet Team Announces New CEO, Focuses on Ecosystem Challenges

The Starknet team has announced a change in leadership with the appointment of James Strudwick as the new CEO. Strudwick, who joined the company in January 2024, will now lead the Starknet project.

According to an official statement from the Starknet team, Diego Oliva, who has been leading the Starknet team since March 2023, will be stepping down from his role. Oliva will, however, continue to work with the company for a period of time to ensure a smooth transition.

Oliva, in a post on his X (formerly Twitter) account after announcing his resignation, stated, "I am incredibly proud of all the progress and milestones we have achieved together with the builders in the Starknet ecosystem and our partners."

Starknet is a layer-2 (L2) network on Ethereum that utilizes ZK-STARK based rollups. The platform, designed to enhance Ethereum's scalability, has seen substantial adoption within the Web3 domain.

According to data from Santiment, Starknet ranks among the top five L2 projects in terms of developer activity over the past 30 days, highlighting its strong presence within the Ethereum ecosystem.

Delving into Starknet's recent performance, the platform has been facing challenges, as evident from a significant decline in user activity, Starkscan data reveals.

While the platform boasted over 382,000 active users on February 21, this number had dwindled substantially by August 1. Currently, the platform engages a much smaller user base, with only about 13,177 people actively using Starknet.

Furthermore, the total value locked (TVL) on Starknet has also seen a remarkable decline since its peak in April, now standing at $231.7 million, as per DefiLlama.

This decline in participation in the project's ecosystem is largely attributed to user disappointment stemming from changes in the STRK token airdrop requirements, which were announced in February.

About Starknet

Starknet is an Ethereum scaling solution that aims to enhance the network's performance and scalability. It is developed by Israeli company StarkWare Industries, which has garnered significant industry attention due to its high valuation of $8 billion and an investment of over $280 million.

STRK serves as a key element within the Starknet ecosystem, playing an important role in the functioning and governance of the project. With the commencement of trading on major crypto exchanges, including Bybit, Binance, and KuCoin, as well as an airdrop, STRK is poised to become a highly sought-after asset.

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