Polkadot’s DOT token has a market value of $5.3 billion, making it the 15th biggest cryptocurrency, based on data from CoinGecko.
Parity Technologies, the blockchain infrastructure company behind the Polkadot platform, will cut 30% of its workforce, or about 100 employees, as part of its plan to “shift” focus to its technology.
That is according to Björn Wagner, chief executive officer of Parity, through a spokesperson, in an email statement Monday. “Over this period, we will be doubling down on our efforts to enable those affected to continue to contribute to Polkadot beyond their tenure at Parity and we are excited to already see initiatives beginning to take shape.”
As such, Parity is sunsetting its go-to-market functions to make room for the emergence of new ecosystem leaders beyond Parity.“Parity’s financial health and regulatory engagement remains robust, and we will continue to be focused on Polkadot’s success,” Wagner said.
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