The founder of the Octopus Network believes most Web3 startups will not survive another year of a crypto winter.
As part of its refactoring process, Octopus network will let go of roughly 40% of its team, which accounts for 12 out of 30 members. The remaining staff will also be subjected to a 20% salary cut, while its team token incentive will be suspended indefinitely., the founder of the Octopus Network, although he has lived through previous crypto winters, “this winter is very different from the others.
To survive the crypto winter, the founder also shared that in addition to layoffs and pay cuts, the network will have to undergo a strategy change; which would involve condensing operations, while focusing on building with NEAR and IBC as the cornerstones of the new strategy.
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