Parity Technologies has announced plans for Polkadot’s future that involve community-driven growth amid rumors of staff layoffs.
“We are passionate advocates for decentralization, yet as we’ve expanded our mandate, we’ve had to navigate the risk of becoming a bottleneck for Polkadot’s growth,” Parity Technologies stated.
Polkadot Staff Allegedly Cut Amidst Ongoing Evolutionary Shifts
In a thread of posts on X (formerly Twitter), Parity Technologies announced it would be going through an evolution, thanking the staff at Parity for their work on Polkadot so far:
“As we go through this evolution, we want to extend special appreciation to those teams at Parity who have driven Polkadot’s outreach and expanded its market presence.”
At the time of publication, the price of Polkadot (DOT) stands at $3.67.
It further notes that it will put its focus on enhancing developer experience:
“Parity will be zeroing in on delivering Polkadot’s next-gen technology, improving the developer experience, and fostering a strong developer community.”
This comes amid active crypto community user Chainyoda reported to his 17,500 followers that Polkadot had a string of layoffs.
As per Chainyoda, the company terminated the employment of 300 individuals.
Polkadot Records High Developer Activity in Recent Data
He additionally claims that the crypto industry’s “pain is getting worse by the day.” He made a comparison to highlight the significant number of employees being laid off simultaneously:
“That’s a lot more employees than there are devs building apps on Polkadot.”
However, recent research uncovered that Polkadot boasted the highest level of crypto developer activity. On July 6, the blockchain analytics platform Santiment registered a 30-day developer activity metric of 546 for Polkadot.
Read more: What Is Polkadot (DOT)?
This follows BeInCrypto’s October 11 report, which highlighted that despite launching a funding program worth around USD $22 million and 5 million DOT through 2024, DOT’s price reached a yearly low.
The funding will specifically support projects dedicated to strengthening Polkadot’s future.
Recently, the world’s largest crypto exchange has been undergoing staff layoffs due to its regulatory challenges.
Amid legal action initiated by the United States Securities and Exchange Commission (SEC), Binance reportedly terminated the employment of 100 of its staff members.
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