Key Takeaways:
- Printr founder and CEO steps down, citing health and platform pressures.
- All community sale participants will receive a 100% refund within 24 hours.
- New CEO Lennon promises policy changes and creator accountability updates soon.
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Solana Launchpad Printr Refunds 100% of Sale After CEO Exit
Solana-based launchpad Printr announced on April 30 that it will refund 100% of community sale funds after founder and CEO ‘Fed’ resigned effective immediately.
"I understand the last 24 hours have been difficult," incoming CEO 'Lennon' said in a post on X, pushing back on community accusations against the departing founder. Lennon, formerly the COO and Head of GTM, takes over as CEO, while Lea remains CTO and co-founder.
The leadership change follows community backlash over projects launched on the platform, including one called Fax. The refund of the $PRINT community sale will be sent to original wallets within 24 hours, with no action required from participants.
The move aims to rebuild trust during a critical transition. New CEO Lennon has signaled that changes to creator accountability are coming and promised more details on the platform’s roadmap and partnerships within two weeks.
Founder Cites Health and Platform Pressure
In a post on X, departing CEO Fed cited mounting stress and health issues as the primary reasons for his decision. He pointed to significant personal backlash after a third-party project, Fax, allegedly "farmed" users on the platform. Fed stated he was not involved with Fax but received toxic messages and threats, which heavily impacted his mental health.
A New Chapter for Printr
Incoming CEO Lennon directly addressed community concerns about recent problematic launches on the platform, including projects named ROTUS, FAX, and NOOB. He admitted these events had damaged user trust.
While stopping short of providing a full plan, Lennon confirmed that changes to creator accountability and content surfacing are a priority. He affirmed the product remains fully operational and that development continues as planned, asking the community to hold the platform accountable in its next chapter.
This article is for informational purposes only and does not constitute investment advice.
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