SushiSwap has been online for just over a year, revolutionizing the idea of decentralized crypto exchanges with SUSHI. Now, anonymous boss Maki is taking a leave of absence from day-to-day operations.
SushiSwap (SUSHI) is facing a management shakeup. After a year of successful non-stop service to SushiSwap, it’s time for him to move into the role of consultant, writes Maki, who served as Anonymous in the chief role on the DeFi project. SushiSwap launched in late August 2020, wooing massive capital from then-market leader Uniswap with the innovative idea of a reward token called SUSHI. Meanwhile, such proprietary tokens are commonplace among decentralized crypto exchanges, and Uniswap also followed suit with UNI back in September 2020.
Maki explains that he developed a group of more than 20 people for SushiSwap from a two-man team. With this outstanding team, he foresees a prosperous future for SushiSwap. Maki had come into office when SushiSwap’s anonymous founder Chef Nomi pulled out of the project early and unexpectedly.
SUSHI with new momentum after leadership change?
SushiSwap has felt the increased competition in its line of business in 2021, with new platforms like PancakeSwap (CAKE) and QuickSwap noticeably attracting captal. At its peak, SushiSwap had measured monthly sales of the equivalent of up to US$25 billion in the first half of 2021; by August, it was down to around US$10 billion. SUSHI has held up quite well in parallel and is currently trading at just over 12 US dollars. SushiSwap still has just under 4.5 billion in liquidity.
In February, the venture capital firm Future Funds had signaled support for SushiSwap. In general, the project may build on great name recognition and a history of no major problems. Maki himself indicates that the priority now must be to open up new markets such as those for NFTs as far as bringing SushiSwap to more blockchains.
Conclusion: SushiSwap faces the acid test
Maki had earned a lot of popularity and trust from the SUSHI community, as evidenced by comments on his role change on Twitter, for example. He now wants to take a recovery period of one to two months. For the success of SUSHI, he has put his friends, family and even his health on the back burner. With his overall elegant departure, Maki is now clearing the way for a more broadly based team. If this team succeeds in scoring points with new ideas and in further developing SushiSwap in a technologically stable manner, SUSHI should also have good chances for an upward trend again.