SushiSwap Modifies Leadership Framework

Decentralized cryptocurrency exchange (DEX) SushiSwap has transitioned to a new governance framework centered around a newly established division focused on the development and execution of projects within the Sushi ecosystem. The community will continue to play an active role in overseeing the crypto exchange.

The SushiSwap community has launched Sushi Labs, an independent administrative, technical, and operational entity tasked with managing all activities within the Sushi ecosystem.

This new governance framework features a decentralized design proposed by Jared Grey, SushiSwap’s Chief Developer and the current Managing Director of Sushi Labs. The structure includes four boards:

• Sushi High Kitchen serves as the primary governing body, consisting of six to eight members. It will oversee a multisig arrangement for transactions.
• The Treasury Council is responsible for budget development, liquidity management for the DEX, and formulating strategic proposals aimed at enhancing the ecosystem’s stability.
• The Grants Council is tasked with distributing grants and funding projects that foster ecosystem development.
• The Ambassador Council promotes the Sushi ecosystem, interacts with the community, and supports marketing communications and user engagement to encourage active participation in the project.

Sushi Labs will oversee the DAO’s budget of 25 million SUSHI. Additionally, the SushiSwap blog highlighted that the Sushi DAO will maintain its role in ecosystem management, continuing to engage in strategic decision-making and treasury distribution. The DAO will regulate the budget, take part in council elections, and vote for representatives to engage in discussions and decision-making processes. This will promote decentralized governance and encourage active community involvement in project management and development.

Grey also mentioned that the new structure, adequate budget, and successful products like Route Processor will enhance the exchange’s liquidity. Furthermore, various tokens will now be utilized to allocate costs and rewards within the ecosystem, mitigating the risk of SUSHI inflation, the native token of the ecosystem, and supporting the funding of diverse DAO initiatives. By employing multiple tokens, Sushi Labs aims to manage its resources more effectively and offer participants increased opportunities for rewards. The ecosystem is expected to fully transition to multi-token governance by the end of Q3 2024.

As reported by DefiLlama, SushiSwap’s performance has declined following a 2023 exploit, during which hackers stole $3.3 million from the protocol. The DEX currently generates approximately $1.5 million monthly in commissions, which is at least four times lower than the average prior to the exploit and significantly below the peak levels of 2021–2022.

Сообщение SushiSwap Changes Management Structure появились сначала на CoinsPaid Media.