The SushiSwap DeFi platform has been in the news recently. For several days, first- and second-hand reports of management team infighting broke over Twitter, leading to the eventual resignation of Joseph Delong, SushiSwap’s CTO.
This comes after core team developer 0xMaki stepped down from day-to-day operations to take an advisory role in mid-September.
With SushiSwap seemingly without direction and the $SUSHI token price dropping, DeFi developer Daniele Sestagalli (@DanieleSesta on Twitter) submitted a proposal to restructure the Sushi platform, tokenomics, and team.
Daniele’s current projects include cross-chain stablecoin Magic Internet Money ($MIM), cross-chain yield aggregator Popsicle Finance ($ICE), and Olympus DAO fork Wonderland ($TIME).
Daniele’s Twitter supporters refer to their community as Frog Nation, and reception of his proposal has been widely positive among that group.
The proposal could benefit SushiSwap, allowing easy access to $MIM as a means of offering low-friction cross-chain swaps. For holders of the Abracadabra fee accrual token $SPELL, more trading means more fees and thus more profit.
Other players have submitted similar proposals, including crypto investment firm Arca.