Product lead Sydney Huang, known in crypto circles as 0xSydney, has stepped into the chief executive role. Former CEO Vijay Chetty, also known as Litquidity, has departed voluntarily. Huang said the company’s mission remains the same—delivering scalable blockchain infrastructure—but the strategy now centers on creating its own applications to draw end users.
The restructuring follows Eclipse’s token generation event last month, which saw the release of its native ES token across Eclipse, Ethereum, and Solana. The token has struggled since launch, dropping more than 65% from its debut and sliding another 13% in the past 24 hours to around $0.16, according to CoinGecko.
Founded in 2022, Eclipse has been known for its Ethereum-connected rollup that runs the Solana Virtual Machine, branding itself as “Solana on Ethereum.”
Until now, the focus was on supporting outside developers. Going forward, Huang said the company will dedicate more resources to building its own applications on top of Eclipse’s L2, while continuing to maintain and upgrade the chain itself.
The pivot marks a significant shift for Eclipse—away from just providing infrastructure and toward competing in the crowded world of blockchain apps.
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