Eclipse Labs is cutting deep and changing course. On Monday the Layer 2 developer announced that Sydney Huang (“0xSydney”) will step in as CEO, replacing Vijay Chetty (“Litquidity”), who departed voluntarily. At the same time, the company is laying off 65% of its staff to realign with a new strategy.
Instead of focusing only on infrastructure and developer tools, Eclipse says it will now prioritize building a “breakout application” on top of its own chain. Huang framed the shift as an evolution rather than a pivot: “Our mission has always been to build infrastructure that can serve real-world applications. That remains unchanged, but our focus is evolving. The next chapter is about serving end users and building those applications in-house.”
The announcement comes just weeks after Eclipse’s token generation event for ES, which has struggled since launch. The token has lost more than 65% of its value, dropping to $0.1587 at publication time, down another 13% in the past 24 hours according to CoinGecko.
Founded in 2022, Eclipse positioned itself as “Solana on Ethereum,” launching an Ethereum rollup running the Solana Virtual Machine in late 2024. The company says it will continue operating its L2 and improving the base chain, but with far more emphasis on apps designed to attract end users directly.
