Head of SushiSwap, NomiChef, panic sold all his Sushi a week after forking Uniswap. Luckily for holders of the DeFi pop-up project, the CEO of FTX swooped in to save the day.
Long story short, UniSwap is all the range in DeFi, as people can swap any coin they create thereby creating liquidity pools for that coin. This “wasn’t good enough” for a raging DeFi bull market and so some cartoon animals forked UniSwap into another food-based coin (this is a thing in DeFi). Said fork, SushiSwap, and its coin Sushi, caught on like hot fishcakes and Suhi started to moon. Then the tech dump started bringing crypto down and the SushiSwap founder panic sold his entire Sushi holdings on… Uniswap #lol.
This of course hurt sushi holders, thing is, the FTX crew were going deep into SushiSwap. So when this happened the CEO of FTX publically requested NomiChef hand over the keys to the kingdom and basically exit SushiSwap. NomiChef did, and now the FTX crew is in the process of trying to revive and build a new and better Sushi.
In other words, it was a long week in DeFi.
1) Alright guys some updates on Sushi!
MIGRATION CODE READY:https://t.co/E6c20G5Cnr
Initiating in 1 hour if no serious bugs pointed out, which would mean 49 hours until migration.
What does this mean for you?
— SBF (@SBF_Alameda) September 7, 2020