SushiSwap had previously slashed its annual expenses from $9 million to $5 million amidst the crypto winter.
on Jan. 23, decentralized exchange SushiSwap will soon redirect 100% of trading fees on the platform to its treasury for operations and maintenance for one year's duration. The move came after CEO Jared Grey warned that the exchange"only has 1.5 years of treasury runway left," even after slashing annual operating expenses from $9 million to $5 million amids the ongoing crypto winter.
"Revenue to the treasury will be in the form of 50% ETH and 50% USDC, with projection of ~$6m being earned over the next year if this proposal were to pass."the same day, 99.85% of voters elected to"clawback" 10,936,284 unclaimed SUSHI tokens awarded to early liquidity providers during the DEX's launch in 2020.
SushiSwap, the sixth-largest DEX by 24 hours trading volume, has been hit hard by the crypto market downturn and product-market-fit woes. Last December, Cointelegraph that the DEX lost $30 million over 12 months alone on incentives for its liquidity providers due to"unsustainable" token emission rates. As a result, the DEX is currently seeking to revamp its tokenomics model.We've just released our new tokenomics calculators and we would love your inputNew Tokenomics Calculators:
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