- Edgar Pavlovsky, the creator of Marginfi, declared his departure from the protocol, stating his disapproval of the “internal or external” methods “things have been done.”
Edgar Pavlovsky, the founder of Marginfi, announced his decision to leave the project in an X post on April 11. He attributed his resignation primarily to differences in internal and external procedures.
While the precise motivations for Pavlovsky’s resignation are still unknown, his letter of resignation suggests that there was a disagreement between him and the team about when the project’s token may be launched.
The lawyers are still working things out but I’ve told everyone involved I don’t really care about tokens, or money, or any of that. Let that be a clear statement of my intention here and of my principles. I’ve been running pretty red financially lately so this puts me pretty much back at $0, but if you’ve been in this industry for a while you know that’s nothing new.
Marginfi, a trading protocol founded in 2021 and based on Solana, gives users access to margin and allows them to create a portfolio with just one account. DefiLlama data indicates that the protocol has assigned liquidity exceeding $580 million, ranking it as the sixth largest in terms of locked value within the Solana ecosystem.
Pavlovsky did not go into detail about the reasons behind his resignation, even though he acknowledged his own shortcomings as a creator. Users were reassured by Marginfi’s official X account that “all products remain fully operational and are unaffected” in spite of Pavlovsky’s resignation.
According to the statement, “internal operational disagreements and of his own personal reasons” are the reasons behind Pavlovsky’s resignation.
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