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zora

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first_img Polymarket hires former Zora CEO to lead on-chain products

Polymarket announced the hiring of former Zora CEO Jacob Horne to lead product efforts, focusing on its DeFi business. Polymarket CEO Shayne Coplan acknowledged that as the company scales, the performance of its on-chain products has "declined," with some long-term users believing that Polymarket has shifted its focus to the U.S. market. Coplan stated that the company is working to unify its products but did not disclose a specific launch timeline, nor did he mention adjustments regarding fees, liquidity, or routing.Polymarket plans to hold a DeFi community meeting "soon" to gather feedback and announce a roadmap; in the meantime, users can provide feedback directly to Horne or Coplan. This appointment gives Horne broad product responsibilities rather than a specific engineering role. An earlier diagnosis came from Polymarket DeFi Engineering Vice President Josh Stevens, who noted on August 31 that the existing Central Limit Order Book (CLOB) is "full of technical debt." Although the team has scaled it tenfold and increased speed threefold, the underlying architecture still has flaws, and fixing one issue may trigger another.Stevens stated that the existing codebase is "unsalvageable in the long run," and the matching engine is being rewritten from scratch in Rust, with the goal of completing it in the latter half of the fourth quarter. Early benchmarks show that the new system's p99 latency is 10 to 20 times faster than the current system, capable of processing 200,000 orders per second, approximately 15 times the existing capacity.

first_img Dee Goens takes over as CEO of Zora, Jacob Horne steps down

Zora co-founder Dee Goens has taken over as CEO, succeeding co-founder Jacob Horne, who held the position for over six years. Goens stated in a post on Wednesday that Horne will leave the company to embark on a new chapter but "won't stray too far from crypto." Goens revealed that Zora has conducted layoffs this year, reducing the team size to fewer than 10 people, and is shifting towards a more AI-driven operational model.On the product front, Zora has shifted its focus from the Creator Coins model launched on Base last June to supporting trading pairs on other networks. The Custom Pairs feature, launched on August 20, allows users to customize token trading pairs, with over 4,000 created so far. Zora also expanded to Robinhood Chain and Solana this summer, supporting cross-chain trading and eliminating fees for direct messages and comments. According to DefiLlama data, Zora recorded only $14,800 in fees deployed on Base in August, a 99.4% drop from $2.51 million in the same period last year.Goens outlined five key priorities, with the top priority being to align the business with the interests of ZORA token holders through the implementation of buyback and reward mechanisms, though he did not disclose specific scales, sources of funds, or timelines. The remaining priorities include rebuilding community trust, focusing on mobile app user acquisition, and restarting community incentive distribution. As of the time of publication, ZORA is priced at $0.00814, with a market cap of approximately $36.3 million, down 94.4% from its historical high of $0.1456 reached on August 11.
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