SushiSwap

xSUSHI

Members of the SushiSwap community want to abandon the Kanpai 2.0 model, as it has become the reason for the weak tokenomics of the crypto exchange.
The decentralized crypto exchange (DEX) SushiSwap community is proposing to return to the previous model, in which all of the commissions are transferred to the stakers of the xSUSHI token.
According to the <a href="https://forum.sushi.com/t/sushi-swap-governance-overhaul/12496/1" target="_blank" rel="noopener noreferrer nofollow">authors</a> of the discussion, since the creation of the Kanpai 2.0 model in December last year, the tokenomics of the project has weakened too much. The native token of the Sushi ecosystem (SUSHI) has lost its main purpose. It consists of receiving the generated commissions: 100 percent now goes to the project treasury.
Additionally, SushiSwap’s Total Value Locked (TVL) has dropped from a peak of $8b to the current $400m.
<blockquote class="wp-block-quote">
 “This has seen a relative decline from a top 5 DEX to 17th by trade volume and a decline in token price to essentially a flat line since mid 2022.” <cite>SushiSwap community discussion</cite>
</blockquote>
The authors of the discussion also believe that the crypto exchange needs to introduce a governing board. According to the idea, it will consist of seven volunteers elected by xSUSHI holders. The Governing Council would develop an updated roadmap and improve the tokenomics of SushiSwap.
Last year,&nbsp;platform chief Jared Gray <a href="https://crypto.news/sushiswap-drops-like-a-rock-as-dex-liquidity-crunch-threatens-its-operation/" rel="noopener noreferrer nofollow">proposed</a>&nbsp;temporarily directing all commission proceeds to SushiSwap’s treasury. He noted that the exchange was facing a “significant deficit” that threatened its operations. The head of SushiSwap proposed setting up the Kanpai fee distribution protocol to deduct all fees in favor of the DEX treasury.
You might also like: <a href="https://crypto.news/sushiswap-aims-to-10x-its-market-share-with-new-dex-aggregator/" rel="noopener noreferrer nofollow"> SushiSwap aims to 10x its market share with new DEX aggregator </a>

SushiSwap community suggests abandoning Kanpai 2.0

crypto.news

Andere artikelen gepubliceerd op 30 okt 2023

Snowtrace.io Shuts Down Etherscan-Powered Explorer

FreeBitco.in Reveals the Lucky Winner of Win A Lambo Round 9

Bankman-Fried retakes the witness stand for cross-examination by prosecutors

Hong Kong Monetary Authority concludes first CBDC trial

XRP Price Analysis: Will Ripple’s XRP Reach $28 in the Next Cycle?

The crypto market is up today, and here’s a breakdown of today’s events

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!