Anonymous Lead Behind Decentralized Exchange SushiSwap Steps Down

The anonymous product lead behind SushiSwap SUSHI/USD, appears to be leaving his role at the decentralized exchange (DEX).

What Happened: SushiSwap co-founder “0xMaki” is stepping down from his position at the second-largest decentralized exchange, according to a report from The Block.

His address has reportedly been removed from the operation multisig, as indicated by this transaction on the blockchain.

At the time of writing, the reasons for Maki’s departure from SushiSwap remained unknown.

The Sushi saga still remains to be my favourite moment in DeFi & probably crypto.

Seeing @0xMaki pick up the reigns, listen to the community, & execute amidst all that noise was truly a sight to behold.

Knew right then Sushi was gonna make it.

Best of luck Maki 🍣

— Hsaka (@HsakaTrades) September 17, 2021

A number of people in the crypto community, including rival DEX Uniswap UNI/USD founder Hayden Adams, took to Twitter to share their thoughts on Maki’s departure from SushiSwap.

.@0xMaki is an impressive community builder.

I thought sushi was done after Nomi rugged, but he single handedly made that not the case.

He’s always been nice the few times I’ve engaged with him. Good luck in whatever you do next Maki! https://t.co/0MjHJLRi07

— hayden.eth 🦄 (@haydenzadams) September 17, 2021

What Else: Meanwhile, SushiSwap’s native token SUSHI dropped by 15% over the past 24-hours, despite surging 50% in the two days prior to a high of $16.10.

DeFi analyst Kris Kay pointed out SushiSwap is currently the fifth highest-earning protocol after Ethereum ETH/USD, Uniswap, Binance Smart Chain and Aave AAVE/USD.

“The more blockchains Sushi branches out to, the more fees generated by users,” said Kay, adding that SUSHI stakers receive 0.05% of all fee revenue.

Photo by Mahmoud Fawzy on Unsplash