David Garai, the founder of Nostra, recently announced his resignation as CEO, a decision that comes less than two weeks after the launch of the NSTR token. In a statement shared on X, Garai mentioned, "I have resigned as CEO of Nostra. I'm taking a break for the first time in 4 years and will be back. Stay tuned for my future plans."

Nostra operates on Starknet, offering a decentralized finance (DeFi) platform where users can participate in lending, borrowing, swapping, and bridging cryptocurrencies. Under Garai's leadership, the platform has grown significantly, boasting $2.5 million in annual revenue and securing over $180 million in total value locked (TVL). Currently, Nostra maintains a TVL of $153.4 million, with a peak of $221.4 million just before the recent token airdrop.

Following Garai's departure, Richard Thomas-Pryce, Head of Product at Tempus Labs, the legal entity behind Nostra, will assume the role of "day-to-day lead" at Nostra Labs. Garai expressed confidence in Thomas-Pryce's ability to steer the platform forward, highlighting upcoming developments such as Nostra Earn and STRK liquid staking, positioning Nostra to maintain its market leadership in these DeFi offerings.

Garai's resignation has sparked community discussion, particularly concerning the timing coinciding closely with the NSTR token's launch. Addressing community concerns, Garai clarified that he has not engaged in selling any tokens. The NSTR token, with a total supply of 100 million and no vesting periods, experienced a slight initial decline of approximately 4% following the announcement but has since stabilized, currently trading around $0.0967 according to CoinGecko.

Looking ahead, Garai expressed optimism for Starknet's future, anticipating substantial upgrades aimed at enhancing network speed and maturity. The Block has reached out to both Garai and Thomas-Pryce for further comment on this significant leadership change and its implications for Nostra's future strategic direction.