TechFlow News — Louis Liu, founder of Octopus Network, a multi-chain network in the Near ecosystem, published a blog post stating that the Octopus Network core team will initiate a voluntary departure program to carry out restructuring. Approximately 40% of team members (12 out of 30) will leave the core team through this program. The remaining team members will take a 20% salary reduction, and token incentives for the team have been indefinitely suspended.
According to Louis Liu, the plan aims to help Octopus Network navigate through the crypto winter, with the team focusing next year on Near and IBC as strategic cornerstones for development. If users have any questions regarding Octopus 2.0 and the core team restructuring, Louis Liu will address them during a community call on January 8.
Data from RootData shows that Octopus Network raised $3 million in a seed round last April, with participation from NGC Ventures, OKX Blockdream Ventures, Spark Digital Capital, and others. Additionally, the project secured $5 million in a Series A round last September, backed by Youbi Capital, DCG, Gate Labs, among others.Source link
