As CEO Sreeram Kannan said, he reorganized the company into Focus on developing eigencloudhe calls it a “verifiable” alternative to existing opaque cloud services.
The Seattle-based startup said the firing was not a response to the cash crunch. Comany received $220 million in venture capital, including the $100 million B round of the February A16Z, with a valuation of $1 billion.
“While these changes are difficult, they make us a focus for a company and ensure that our teams are structured to achieve an ambitious goal: to build the world’s first verifiable cloud platform,” Cannan said in an article on X.
Eigenlayer, a remastered protocol for the project, whose data availability sibling Eigenda will continue online as part of Eigencloud, Kannan additional In separate posts.
He said employees who leave the company will receive three months’ salary, accelerate token ownership, continue insurance, and help find new jobs. He also invited other cryptocurrency companies to recruit outgoing employees, a sign of a desire to keep talent in the ecosystem.
