Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Sushi (SUSHI) Shuts Down Kashi and MISO Platforms

Published 01/03/2023, 11:00 AM
Updated 01/03/2023, 12:30 PM
Sushi (SUSHI) Shuts Down Kashi and MISO Platforms

Sushi (SUSHI) Shuts Down Kashi and MISO Platforms

  • Sushi team decides to abandon its Kashi lending and MISO launchpad platforms due to a lack of resources.
  • The decision comes as part of a larger project restructuring, which includes a new tokenomics model and fee distribution mechanism.
  • The team’s priority for 2023 is to ship a new AMM with concentrated liquidity to compete with Uniswap and Curve.

SushiSwap announced its plans to shut down two of its product offerings, Kashi lending and MISO launchpad, as part of a larger revamp of the protocol. This comes as part of a larger restructuring which includes plans to redesign the protocol’s tokenomics and redirect fees to the treasury instead of token holders.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

In the above thread, Matthew Lilley, the CTO of SushiSwap, highlights a lack of resources and poor design as the cause for abandoning these projects. Kashi was introduced as a decentralized lending platform, whereas MISO was introduced as a bootstrapping platform for young DeFi projects. Both products failed to generate any significant demand and remained largely unprofitable endeavors.

While Kashi and MISO will continue to work due to their decentralized nature, the Sushi team will stop dedicating resources towards their maintenance and further development. They want to focus on developing their most profitable product, the DEX.

Sushi’s Roadmap for 2023

As widely reported, Sushi’s runway will last for 18 months. The team’s emphasis is now on prioritization as it looks to improve its most profitable products. The focus for 2023 is to launch the successor of its DEX, SushiSwap, in Q1 with improved efficiency for its liquidity providers via a concentrated liquidity mechanism. There are also plans to launch a multi-asset Balancer-style pool to offer better execution prices for various pools.

On the Flipside

  • SushiSwap’s market share in terms of total value locked (TVL) and volume has decreased over the past months. The community now expects that a new AMM will allow the protocol to be competitive again and regain its market share.

Why You Should Care

SushiSwap is still one of the largest decentralized exchanges in DeFi. Its calculated restructuring will instill some confidence in the protocol’s believers.

Other DeFi news:

DeFi Platform SpiritSwap Partners with Orbs to Unlock Advanced Trading Strategies

See original on DailyCoin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.