SUSHI Defi Project Welcomes a New Member

Colin Baseman

DeFi projects are warmly greeted by the entire crypto community. More than that, what this approach offers can change a lot of things across many industries. SUSHI is one of the DeFi projects that many mass media outlets are discussing nowadays. According to the press, the program is likely to get a new ‘master chef’ and this is going to be an unprecedented move.

SushiSwap has announced that its project might get handed over to FTX CEO. This is all occurring after the program managed to plunge eighty-eight percent in only five days. That was a surprising move. As many experts state, it caused the price to suffer quite a few losses.

SUSHI, as many users might already know, is a fork of Uniswap. It was developed by a relatively controversial creator and has finally been handed over to Bankman-Fried. Professionals confirm that the takeover was unexpected and now many are trying to predict how it will all change the regular flow of things. SUSHI dropped from a bit more than nine USD to almost one USD in merely five days.

It is stated that the creator controversially sold approximately thirteen million USD of dev funds and this is exactly what caused a serious market crash. Also, the handover of the whole project to SBF that is considered is an interesting decision. It comes right after Nomi decided to withdraw twenty thousand ETH and two million five hundred thousand SISHI from the dev fund.

Bear in mind that the capital was supposed to be utilized to provide financial assistance to the development of the project. Managers of the brand confirm that the SushiSwap’s anonymous founder has finally decided to start selling all of his SUSHI. This is something that no one could ever predict to happen in the nearest days.

Explanations That the Public Needs

Participants find the situation outrageous. Nomi pointed out that he wasn’t planning to exit any ‘scam’. More than that, he claimed that he would fully deserve the dev funds since he is the person who created the entire project. People keep asking if Nomi exited the scheme. According to specialists, he is not trying to escape and he intends to keep on taking part in the negotiations. He is willing to help with the technical field and he will also ensure the brand has a smooth migration.

The DeFi space asked some of the most prominent developers to explain the matter in detail. Professionals feel confused as well and none of the leading specialists feels convinced enough. They know that the situation raises too many questions and there are no definite answers yet for the public to better understand the issue.

What we see nowadays is that SUSHI keeps on plunging. At the same time, SBF has taken over the protocol and this is something that the community found the right thing to do. Executives state that the keys of the project might be transferred to a multi-sig. Later on, they would become also decentralized.

SBF feels skeptical about Nomi’s actions. The team emphasizes that if Nomi doesn’t move down, the project would collapse. Several analysts admitted that Nomi let the community down. Next, they say that SUSHI may show promise thanks to the AMM dynamic created by the industry.