The zkSync ecosystem DeFi protocol Phezzan Protocol is taken over by a new team and plans to launch ID0 as soon as possible to solve working capital issues

Binance News · 2023-04-23T03:11:14.000Z

The zkSync ecological DeFi protocol Phezzan Protocol announced that it will be taken over by a new team. The founders Roland and Jack voluntarily quit due to family reasons. The new team will assume a management role for the project and plans to proceed with ID0 soon to address working capital issues. In early 2023, Roland and Jack had received investments from well-known VCs including Delphi and Cogient, totaling more than $1 million. However, the entire amount was refunded as this approach was deemed to be contrary to community-oriented ideals.

The zkSync ecosystem DeFi protocol Phezzan Protocol announced that it will be taken over by a new team. Founders Roland and Jack voluntarily withdrew due to family reasons. The new team will assume the management role of the project and plans to conduct ID0 as soon as possible to solve working capital problems.
In early 2023, Roland and Jack received investments totaling more than $1 million from well-known VCs including Delphi and Cogitent. However, the entire amount was returned because they believed that this approach went against their community-oriented ideals.