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REGULATION
by
23 days ago

Marco Monaco, the growth lead for Linea resigned from Consensys, the company that developed Linea layer-2

2024-09-12

REGULATION
by
23 days ago

 

Marco Monaco, the growth lead for Linea, a zk-rollup project developed by ConsenSys, has resigned citing misalignment in vision with the project’s future direction.

 

Monaco announced his decision on September 11, 2024, via a post on X (formerly Twitter).

 

During his two-year tenure, he played a crucial role in shaping Linea’s business vision and growth strategy, dedicating nearly 20 hours daily to the project.


 


Linea is a zk-EVM layer-2 Ethereum scaling solution. It currently has $492.59 million in total value locked.

 

Monaco’s departure follows a period of reduced involvement and his earlier resignation from ConsenSys.

 

He said his engagement with the project has significantly decreased over the past few months.

 

He resigned from Consensys in mid-June and left the project in mid-July, after EthCC.

 

He emphasized a desire to shift the network’s focus from “farming” to community engagement and organic growth. However, specific details about the disagreements were not disclosed.

 

This resignation comes after Linea faced criticism for halting its entire network to block a hacker who exploited the Velocore decentralized exchange for $7 million in June.


Network halting let Linea to coordinate with the Velocore team and centralized exchanges to freeze the hacker’s  stolen funds but it raises concerns about the project’s centralization.

 

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