Eclipse Labs Reinvents Itself: New CEO and Drastic Changes Ahead
Eclipse labs has undergone a significant conversion just weeks after it’s token launch. The Layer 2 developer announced it is replacing CEO Vijay Chetty with Sydney Huang. Alongside this leadership change, the company has cut 65% of its staff. These moves aim to steer Eclipse Labs toward building its own consumer applications rather than just providing infrastructure.
According to an X post on August 15, Eclipse Labs shared the departure of Chetty and its deep layoffs were essential for aligning with its new vision. They’ve decided to shift away from being solely an infrastructure provider.Instead, they’re now focusing on creating a standout request on their own network. Huang, now at the helm, believes “interesting technology alone is insufficient” in today’s Layer 2 climate.
The ES token,which powers the Eclipse ecosystem,has suffered as its July 16 launch. Dropping over 65%, it hit below $0.16 according to CoinMarketCap. This poor reception likely spurred Eclipse Labs to revamp its strategy quickly.
In summary:
- New CEO: Sydney Huang replaces vijay Chetty
- Staff cuts: 65% reduction to streamline focus
- New goal: Develop consumer apps internally
- Token struggle: ES value down sharply since launch
