Octopus Network: 40% of core team members have left, team token incentives indefinitely suspended

ChainCatcher news, Louis Liu, the founder of the Near ecosystem multi-chain network Octopus Network, published a blog post stating that the core team of Octopus Network will launch a voluntary resignation plan for restructuring, with approximately 40% of the members (12 out of 30) leaving the core team through this plan. The remaining team members will accept a 20% salary reduction, and the team token incentives will be indefinitely suspended.

According to reports, Louis Liu stated that the plan aims to help Octopus Network survive the crypto winter, and next year the team will focus on Near and IBC as strategic cornerstones for development. If users have any questions regarding Octopus 2.0 and the restructuring of the core team, Louis Liu will provide explanations in a community conference call on January 8.

According to data from RootData, Octopus Network completed a $3 million seed round financing in April last year, with participation from NGC Capital, OKX Blockdream Ventures, Spark Digital Capital, and others. Additionally, the project completed a $5 million Series A financing in September last year, with participation from Youbi Capital, DCG, Gate Labs, and others. (Source link)