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ZkSync DeFi Head Now Leaves Project After Corruption Allegations

Key Points:

Sebastien leaves zkSync DeFi head role to focus on developing blockchain solution sophon.
Controversy arises over alleged unfair token allocation and FUD spreading by Seb before Syncus_Fi launch.
Despite challenges, zkSync secures $10M funding and gains support from UNI token holders, underscoring its importance in DeFi.

ZkSync DeFi Head Sebastien, also known as Seb, has announced his departure from the position by the end of April.

zkSync DeFi Head Sebastien Departs for Blockchain Development

His decision stems from a desire to focus on developing a modular blockchain solution called sophon, based on ZK Stack technology.

Sophon recently concluded a $10 million financing round in March, drawing support from various investors including Paper Ventures, Maven 11, The Spartan Group, and others.

However, Seb’s departure comes amidst controversy. Last year, screenshots of chats surfaced, allegedly showing the zkSync DeFi head offering “extra zkSync tokens” and reserving some for a friend.

The controversy intensified with allegations of spreading FUD prior to the launch of Syncus_Fi, a DeFi protocol on zkSync. The platform had announced an Initial DEX Offering (IDO) to gain liquidity for the token, but accusations suggest Seb sought to allocate an excessive portion to his associate.

zkSync Gains Momentum When Airdrop Signal Is Waiting

zkSync, a prominent layer-2 solution, has faced scrutiny before. Its decision to launch a mainnet exclusively for internal developers raised questions about transparency and inclusivity.

Despite these challenges, zkSync has garnered momentum, notably with support from Uniswap‘s UNI token holders, who voted to deploy the protocol to zkSync’s solution.

While zkSync remains a subject of interest for many due to potential airdrops and network participation, recent controversies highlight the complexities and challenges facing the evolving DeFi landscape. Seb’s departure marks a significant transition for zkSync as it navigates these issues and continues its development journey.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.