Jared Grey

According to a new Twitter post by SushiSwap CEO Jared Grey, the decentralized exchange, or DEX, experienced a $30 million loss in the past 12 months on incentives for liquidity providers, or LPs. As explained by Grey, SushiSwap currently employs a token-based emission strategy to incentivize LPs, but the current rate is “unsustainable.” “We commissioned Flipside to build dashboards to showcase these results; we’ll make them available by EOY.” Moving forward, Grey plans to rework SushiSwap’s tokenomics so that LPs are no longer subsidized with emissions and redesign the entire model of bootstrapping liquidity on the exchange. ” In Q1 2023, we will bring innovation to scale swap volume & prioritize TVL. As LPs experience a more profitable swap e...

According to a new proposal dated Dec. 6, Jared Grey, CEO of decentralized exchange Sushiswap (SUSHI), disclosed that the project’s Treasury has less than 1.5 years of runaway left, and the “significant deficit in the treasury threatens Sushi’s operational viability, requiring an immediate remedy.” Grey explained that Sushiswap’s annualized operating expenses amounted to roughly $9 million in October, however, that has since been reduced to around $5 million. “We made the reduction possible by renegotiating infrastructure contracts, scaling back underperforming or superfluous dependencies, and instituting a budget freeze on non-critical personnel and infrastructure.” To remedy the situation, Grey proposed setting Sushiswap’s “Kanpai,...