Radix Works, the team behind the Radix decentralized finance (DeFi) platform, has recently downsized its workforce by 15% to cut costs. The Radix network, which launched its mainnet in July 2023, provides tools for creating decentralized applications (DApps) and financial services on the blockchain. CEO Piers Ridyard stated that the layoffs are part of a broader restructuring effort. Despite the staff cuts, key projects like the Cassandra test network and multifactor account control at RDX are expected to continue unaffected. The Radix ecosystem token (XRD) saw a minor price increase following the news, but it remains significantly below its all-time high. The downsizing coincides with a new partnership with Keyrock, G-20, and Portofino to introduce flash liquidity to the ecosystem. This move follows a previous layoff of 25% of the workforce in March 2023, primarily affecting non-technical roles. Read more AI-generated news on: https://app.chaingpt.org/news