Stephen Akridge, co-founder of Solana, is embroiled in a authorized dispute along with his ex-wife, Elisa Rossi, over alleged misappropriation of considerable good points from Solana (SOL) tokens, Bloomberg Information reported on Dec. 27.
Rossi claims that Akridge used his superior experience in crypto and blockchain to siphon off staking rewards from her digital pockets.
In keeping with the criticism, Akridge’s actions resulted in Rossi dropping “hundreds of thousands of {dollars}” in revenue. She additional alleged that Akridge managed her accounts from early March to mid-Could and reaped 100% of the staking commissions allotted to her SOL holdings.
Whereas the precise worth of the disputed tokens stays undisclosed, Rossi has described the sums as “vital” and requested parts of the criticism be saved confidential. Solana Labs and attorneys representing Akridge and Rossi haven’t commented publicly.
Akridge was a principal engineer at Solana and performed a key function in creating the blockchain platform alongside co-founders Anatoly Yakovenko and Raj Gokal. Earlier than his involvement in Solana, Akridge labored at Qualcomm Inc. He’s now the CEO of Cyber Grant, a California-based cybersecurity agency.
The couple filed for divorce in February 2023 after a decade of marriage. Rossi’s lawsuit alleges breach of contract, unjust enrichment, and fraud and seeks damages for the monetary losses she claims to have incurred.
Liquid staking progress on Solana
In keeping with totally different platforms, staking SOL tokens grants an annual share yield (APY) starting from 5.6% to 12%.
Nevertheless, customers enhance their yields utilizing liquid staking platforms, as the full worth locked (TVL) on Jito suggests. The protocol is the biggest on Solana by TVL, approaching $2.7 billion per DefiLlama knowledge. The liquid staking market represents roughly 50% of Solana’s whole TVL.
Liquid staking provides the consumer a proxy token in the identical quantity allotted in staking, along with the platform’s APY. Consequently, the brand new token generated can be utilized on totally different decentralized finance protocols, boosting potential rewards.