David Garai Resigns as CEO of Nostra, Hands Over the Reins to Richard Thomas-Pryce of Tempus Labs

Under Garai's stewardship, Nostra reported substantial growth, claiming the title of Starknet's most profitable protocol with annual revenues touching $2.5 million

Starknet-based decentralized finance (DeFi) protocol, Nostra, has announced the resignation of its CEO, David Garai. The news follows the recent launch of the NSTR token without any vesting periods, which saw the token’s value dip slightly by around 4%.

During his tenure, David Garai steered the protocol to become Starknet’s largest and most profitable protocol, generating $2.5 million annually with over $180 million in total value locked (TVL) at its peak. Currently, the TVL stands at $153.4 million.

Announcing his departure, David Garai mentioned taking a short break before returning to the crypto scene with new projects that promise to disrupt the industry once again.

In the meantime, Richard Thomas-Pryce (RTP) of Tempus Labs will lead the team as the interim CEO. He will oversee the launch of several applications within the protocol’s ecosystem.

Notably, the NSTR token was fully unlocked at launch, with 11% being directly distributed to the community. This move, intended to create immediate liquidity, has sparked speculation given the timing of Garai’s departure.

As the digital asset landscape continues to evolve, stakeholders in both Nostra and the broader crypto community will be keeping a close eye on the project's development to see how the new leadership can sustain and enhance its success.