SushiSwap CEO Jared Gray, the decentralized exchange (DEX), has suffered a $30 million loss over the past 12 months from incentives for liquidity providers (LP).
As explained by Gray, SushiSwap currently uses a token release strategy to incentivize LPs, but the current rate is “unsustainable.”
Gray plans to improve SushiSwap’s token by designing a completely new model of “In Q1 2023, we will deliver innovations to scale, scale swap volume and prioritize TVL.
Gray has also turned its attention to promoting the “Kanpai” governance proposal, which will transfer trading protocol fees rewarded by those who stake SUSHI into SushiSwap’s treasury. Gray previously disclosed that SushiSwap’s treasury. Only 1.5 years left to use
Surprisingly, Gray remains vague about the design of the new SushiSwap at this point, only stating that he will deliver. “Full financial transparency by releasing a public dashboard for DAO & Treasury activities” in Q1 2023.
refer : LINK
The post SushiSwap CEO reveals DEX lost $30 million from LP incentives this year appeared first on Bitcoin Addict.