Head SushiSwap Chef Nomi has issued a public apology. “I would like to apologize to everyone who I have caused troubles to. I was emotional, I was greedy, I was afraid. I made bad controversial decisions under pressure. And it hurt everyone. I failed your expectation and I am sorry.” Will the community accept his re-entrance into the Sushi ecosystem? Or will he forever be burned from exiting with 14m of ETH?
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One issue people have with Sushi is that it’s a copy & paste of Uniswap’s code, with a pointless token on top. The thing that makes Uniswap so great, is just that – NO TOKEN! No token to pre-purchase, no token to hold leverage over others, no token to pump & dump – greed is more manageable. Some of the best projects don’t have a native coin. 1inch, Uniswap, Tornado Cash, and many more.
As shown from the data above, it appears Sushi has failed to “drain” liquidity from Uniswap, as many were speculating. It appears Uniswap has its foothold, and it’s not budging. Which begs the question: Where does that leave Sushiswap?
In an accumulation phase, it appears. Will it pump? Likely. There are many projects that are far less promising than Sushi, that continue to pump and dump regularly. To be honest, I’m interested in the long-term outcome of something like Sushiswap versus Uniswap.
A fun DeFi fad or a game changing project? Time will tell.