{"id":72000,"date":"2022-12-27T16:13:00","date_gmt":"2022-12-27T14:13:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72000"},"modified":"2025-09-08T12:19:49","modified_gmt":"2025-09-08T09:19:49","slug":"octopus-network-on-near-protocol-to-cut-40-of-staff","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/octopus-network-on-near-protocol-to-cut-40-of-staff\/","title":{"rendered":"Octopus Network on NEAR Protocol to cut 40% of staff"},"content":{"rendered":"<p>Octopus Network, built on NEAR Protocol <a href=\\\"https:\/\/medium.com\/oct-network\/core-team-refactoring-for-octopus-2-0-a51ff7911832\\\">announced<\/a> a comprehensive restructuring in response to adverse market conditions.<\/p>\n<p>The project team will be reduced by 40% \u2014 from 30 to 12 people. The salaries of the remaining staff will be cut by 20%. Token incentives will be suspended for an indefinite period.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;The crypto-winter will last at least another year, perhaps much longer. Most <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>-startups will not survive,\\&#8221; commented Octopus Network founder Luis Liu.<\/p>\n<\/blockquote>\n<p>According to him, the project will focus on the most important directions. A central place in the updated strategy will be cross-chain solutions and \\&#8221;expanding <span data-descr=\\\"Inter-Blockchain Communication Protocol, the protocol for inter-blockchain communication\\\" class=\\\"old_tooltip\\\">IBC<\/span> to blockchains not based on <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-cosmos-atom\">Cosmos SDK<\/a>.\\&#8221;<\/p>\n<p>The Octopus Network platform is designed to support Web3 by providing <span data-descr=\\\"a customizable blockchain designed for a single application\\\" class=\\\"old_tooltip\\\">appchain<\/span>-infrastructure.<\/p>\n<p>Earlier in November, the largest US cryptocurrency exchange Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/bybit-to-cut-staff-amid-prolonged-bear-market\">announced<\/a> a reduction of 60 jobs. <\/p>\n<p>Similar moves were adopted by platforms <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-cuts-around-30-of-staff\">Kraken<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/bybit-to-cut-staff-amid-prolonged-bear-market\">Bybit<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/nft-marketplace-opensea-to-lay-off-20-of-its-staff\">OpenSea<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices, and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Octopus Network, built on NEAR Protocol, announced a comprehensive restructuring.<\/p>\n","protected":false},"author":1,"featured_media":72001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1216],"class_list":["post-72000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-near-cryptocurrency"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72000"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72000\/revisions"}],"predecessor-version":[{"id":72002,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72000\/revisions\/72002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72001"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}