SushiSwap’s restructuring plan has been developed following the departure of talent and developers in the last months.
The popular DEX has acknowledged in a blog post that the ecosystem was facing internal problems following the departures of its top leaders as well as an apparent failed union with Frog Nation. The DEX has a new vision.
SushiSwap Restructuring Plans
SushiSwap revealed that it has been undergoing a reorganization, retaining and installing a strong and loyal team. According to reports, new members were added. The company claimed that it had “rekindled key stakeholder relations” and appointed an external operations advisor. All departments have been provided with a compensation structure. SushiDAO was also proposed.
Now, the focus is on the long-term commitments of the team, executive and leadership search process. There will also be increased transparency in budgets and checks via community and committee oversight. The Sushi 2.0 interface will also be adopted. SushiSwap presented three separate proposals as part of its restructuring plans.
To retain the best talent in the various functional areas of Engineering, Design, Business Development, Community Engagement, Shoyu, and Operations.
With a 4-year timeline, the proposal will designate 6,000,000 SUSHI. This money will be divided among existing contributors, future employees, and future project leadership. SushiSwap will keep working on new releases, including MultiChain launch and Shoyu redesign, limit order, Sushi guard, and Trident AMM 2.0.
Collective ‘Frog Nation’
SushiSwap was one of the most important DeFi projects in 2021 after a chaotic start that saw its creator, Chef Nomi, removed. It has faced significant difficulties since infighting was exposed.
Frog Nation was the new collective formed by Daniele Sestagalli, his associates, and others. It was expected that it would steer Sushi back on track after core contributors 0xMaki’ Mudit Gopta and chief tech officer Joseph Delong quit the project.
Frog Nation was formed when several DeFi protocols were merged. The merger was canceled when Michael Patryn, better known as 0xSifu on Twitter, was identified as one of the project’s key members. Patryn was once involved in QuadrigaCX, one of the most infamous cases in cryptocurrency. Most of the community turned their backs on this project because of his background.
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