The NEAR Foundation has recently announced a strategic decision to reduce its workforce by approximately 40%, impacting 35 team members across various departments. This move is in line with the Foundation’s broader realignment strategy, aimed at refining its focus on high-impact activities and further decentralizing the ecosystem.
In an effort to streamline operations, the NEAR Foundation is consolidating its efforts and focusing on a narrower set of activities that promise higher impact. This calculated move reflects the organization’s commitment to optimizing its resources and aligning its structure with its long-term objectives.
While this reduction will primarily impact the marketing, business development, and community teams, the NEAR Protocol Engineering Team at Pagoda will continue its operations unaffected. The Foundation has committed to supporting the affected colleagues during this transitional period, assisting them in finding new opportunities within the NEAR ecosystem, the broader Web3 industry, or elsewhere.
Despite the workforce reduction, the NEAR Foundation remains financially healthy and well-managed. With a treasury boasting over $285 million in fiat, 305 million NEAR tokens (worth over $1 billion), and $70 million in investments and loans, the Foundation is well-positioned to continue supporting the growth, development, and further decentralization of the NEAR Protocol and ecosystem.
Looking ahead, the NEAR Foundation reaffirms its dedication to advancing key areas such as chain abstraction, user-owned AI, and mainstream adoption of the Open Web. By focusing on these strategic priorities, the Foundation aims to achieve more efficient progress and rapid advancements.
In conclusion, the NEAR Foundation’s decision to reduce its workforce serves as a strategic move to align its structure with its long-term goals. The Foundation’s solid financial standing and unwavering commitment to its vision of an Open Web indicate a promising path forward for the NEAR ecosystem.
The source of the article is from the blog toumai.es