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Home News

Linea’s Growth Lead, Marco Monaco, Resigns, Says “Visions Are Not Aligned Anymore”

11 September 2024
in News, People
Reading Time: 3 mins read
106 5
source: medium.com

source: medium.com

Marco Monaco, the growth lead for ConsenSys’ zk-rollup project Linea, has announced his resignation from the project.

Monaco revealed his decision on September 11 via a post on X.

During his two-year tenure with Linea, Monaco played a pivotal role in shaping the project’s business vision and growth strategy. He claimed he devoted nearly 20 hours daily to building a dynamic ecosystem and leveraging ConsenSys’s tech stack to advance the platform. He noted that he sought to shift the network’s focus from mere “farming” to prioritizing community engagement and organic growth.

Monaco’s exit follows a period of reduced involvement over the past few months and his earlier departure from ConsenSys. He explained that discussions during the review process led to a mutual agreement with ConsenSys leadership that his vision no longer aligned with the project’s future direction. However, specific details regarding the points of disagreement were not disclosed.

“Consensys leadership and I agreed that the best path forward for Linea does not involve me personally as our visions are not aligned anymore,”

Monaco wrote in the post.

This development comes in the wake of recent controversy surrounding Linea. The project faced scrutiny for halting operations to block an address linked to a hacker who exploited the Velocore DEX for $7 million in June. The pause in operation lasted for one hour, and it allegedly allowed Linea to address the situation, collaborate with the Velocore team, and persuade other exchanges to freeze the hacker’s funds. 

However, this action drew criticism regarding the project’s centralization, especially because the team could halt the entire network without the network participants’ consent or knowledge, which had over $1.2 billion in locked value at the time, according to L2Beat data.

In response to the criticism, Linea acknowledged its reliance on centralized operations and the vulnerabilities this exposed. The project reiterated its commitment to transitioning towards a decentralized, censorship-resistant network in the future.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Tags: LineaMarco Monaco
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Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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