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Difference between revisions of "SushiSwap"
→History: Edited Chef Nomi's history in. Will follow up with that and the current state of SUSHI next time.
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== History == | == History == | ||
SushiSwap started as a fork of Uniswap by a developer who went by the pseudonym Chef Nomi. <ref>https://twitter.com/NomiChef/status/1298677786840723456</ref> SushiSwap initiated a vampire attack against Uniswap by offering a governance token (SUSHI) that could be earned through liquidity mining. To bootstrap liquidity, Sushiswap allowed Uniswap LPs to stake their liquidity positions on Sushiswap for 15 days instead, thereby earning SUSHI tokens. This created an incentive for Uniswap users to move their liquidity over to Sushiswap instead. | |||
However, on 5th September 2020, Chef Nomi pulled the liquidity by swapping his development share of SUSHI to ETH, causing the SUSHI's token price to drop 70% within the day. <ref>https://etherscan.io/tx/0x419a835b33eb03481e56a5f964c1c31017ab196cb7bb4390228cabcf50dfd6f1</ref> This caused massive backlash from the community <ref>https://twitter.com/NomiChef/status/1302214292792422401</ref>, and on 6th September, Chef Nomi transferred the admin keys for SUSHI to SBF, FTX's CEO and a prominent figure in the space. | |||
== SushiSwap == | == SushiSwap == | ||