Popular decentralized finance (DeFi) application SushiSwap will sunset two products as part of broader plans towards making the protocol sustainable and profitable. By shauryamalwa.
Popular decentralized finance application Sushi will sunset two products as part of broader plans towards making the protocol sustainable and profitable.
Chief technology officer Matthew Lilley said in a tweet thread last week that two products – the Kashi lending platform and MISO, a launchpad for external tokens – would be shuttered due to low public interest and the significant team effort that went into maintaining the two. “We made the decision to deprecate Kashi and Miso ,” Lilley said, adding that yet-unnamed “successors” to these products could be launched in the future once Sushi has the requisite resources to support their functioning.
Lilley said Sushi developers would focus more on the protocol’s decentralized exchange product. “In Q3/Q4 it became obvious that there was a strong need to prioritize, and we decided to focus on ideas to improve our most loved and profitable product, the DEX, SushiSwap,” he said.. Some $280 million of that is locked on Ethereum-based assets., suggesting poor demand for the lending product. It held nearly $40 million during its 2021 peak but has seen gradual outflows ever since.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SushiSwap CEO proposes new tokenomics for liquidity, decentralizationIn the new tokenomics model, time-lock tiers will be introduced for emission-based rewards, as well as a token burning mechanism and a liquidity lock for price support.
Read more »
Lido overtakes MakerDAO and now has the highest TVL in DeFiLido Finance has experienced a significant increase in popularity since the Ethereum merger occurred in Sept. 2022, with $5.8B Ether (ETH) staked as of Jan. 2.
Read more »
Cardano's DeFi Industry Might Grow Substantially in 2023, Here's HowThings might change on Cardano in 2023 thanks to a number of projects that might push the network's TVL to new highs
Read more »
Defying expectations: After an uncertain year, DeFi has high hopes for 2023Key trends in 2022 and what to watch out for in DeFi as 2023 approaches, bringing hope that the best for crypto is still ahead.
Read more »
Integrating Decentralized Cross-Chain Communication Makes Bridges 'Substantially Safer' — Flare Networks CEO – Interview Bitcoin News'The general inability to safely move assets across chains has likely hampered development in the space,' said Hugo Philion. crosschain bridgeexploits
Read more »
Vitalik Buterin highlights what he's bullish about for 2023Vitalik Buterin has also confirmed the rollout of the Ethereum Improvement Protocol (EIP) during 2023, which had been discluded as part of the upcoming Shanghai upgrade package in March.
Read more »