Founder of Solana-based trading protocol Marginfi resigns over internal dispute

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Edgar Pavlovsky, the founder of Marginfi, revealed that he was stepping down from the project, explaining that he held differing views on how certain matters were being handled within and outside the organization.

On April 11, Edgar Pavlovsky, the founder of Marginfi, announced in a blog post that he was leaving the company due to inconsistencies between its internal and external operations.

Today, I parted ways with MarginFI and its research division, MrgN. Despite working with an exceptional team, I find myself at odds with the organization’s internal and external approaches. I’ve expressed my concerns repeatedly, and I feel compelled to reiterate: those of us who value a different perspective have shared our views.

— edgar ◼️ (@edgarpavlovsky) April 10, 2024

It’s not entirely certain why Pavlovsky chose to leave, but his farewell message suggests there was a dispute among team members over the planned release of a token related to the project.

“My lawyers are currently figuring out the details, but I want to make it clear that material matters such as tokens or money hold little importance to me in this situation. This is simply reflecting my stance and values.”

Edgar Pavlovsky

Established in 2021, Marginfi functions as a Solana trading platform where users can enjoy a single account for managing margin and constructing portfolios. Based on DefiLlama statistics, this protocol holds over $580 million in allocated liquidity, ranking it fifth in terms of value locked within the Solana community.

With a feeling of both sadness and relief, we announce that Edgar Pavlovsky (@edgarpavlovsky) has stepped down from his role at Mr. Gnome Group (@{mrgngroup}) and marginfi. Our team extends him our best wishes for his future endeavors.

— marginfi ◼️ (@marginfi) April 10, 2024

Pavlovsky admitted to his role as the founder, but didn’t go into detail about why he left Marginfi. Despite this, Marginfi’s X account assured users that all their products were functioning normally following Pavlovsky’s departure. The statement attributed his resignation to internal disagreements within the company and personal reasons on Pavlovsky’s part.

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2024-04-11 11:55