Chaos Reigns Inside SushiSwap as CTO Resigns

SushiSwap is the third-largest decentralized exchange by volume in the market. News announced on Twitter showed that the project is in major turmoil with disagreements among its team members.

The CTO of SushiSwap, Joseph Delong, has announced his resignation, effective immediately, before taking a month-long vacation with his family. On his arrival, he will be venturing forward with his own projects.

SushiSwap was one of the first decentralized exchanges born, following Uniswap. Many claim SushiSwap was the beginning of the DeFi movement as they offered aggressive staking and yield farming opportunities to its users. At the time of writing, SushiSwap has over $3.5bn in crypto assets locked in liquidity pools. Although the platform has been a great success, the team has been said to be fighting.

Delong is not the only one who has resigned over the internal issues. OxMaki, the co-founder of the platform, has also recently left the company. Before his departure, a leaked telegram post revealed a private chat comprising all employees, a poll posted by Delong asked the participants if they should force OxMaki out.

Delong was reported as earning $300,000 for his work at SushiSwap but had complained that the pay was inadequate. He had also made a controversial Twitter post claiming that manipulation was coming from outside the project and demanded that the community supports the core team. 

A common theme for projects that aren't going so well is to announce it will become a Decentralized Autonomous Organization (DAO). When this happens, the team essentially takes a step back from the project and allows the community to vote on initiatives. While some projects are born with a DAO structure, the ones that switch to a DAO structure, later on, do not function as well. 

Many speculate whether the organization will survive. With all the fighting and falling apart, the trust in the system will continue to drop. A radical restructuring of the project and the company will need to happen to gain confidence once more. SushiSwap had a very bright future and could continue to be one of the leaders in decentralized finance.

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Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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