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Sushi up 17% amid DeFi 2.0 rescue rumors

Sushi has been through difficult months. Still, his token outperforms the rest of DeFiafter increasing 17% in the past 24 hours.

The central theses

  • Sushi is up 17% on rumors of an internal reorganization.
  • Daniele Sestagalli, a DeFi developer known for leading the “DeFi 2.0” wave, is slated to join the project.
  • Sushi has been struggling with internal problems for several months. Also the SUSHI-Token has been trending downward all year round.

It is believed that Daniele Sestagalli could join the project as part of an internal restructuring.

Sushi is recovering from recent ailments

Sushi is a leader in the market.

The DeFi project token rose 17.1% yesterday afternoon, trading at $ 9.14 at press time. Other DeFi tokens like Uniswap‘s and CompoundThey were also up on Monday, although SUSHI clearly stood out.

A key factor in the rise could have been the growing excitement about Daniele Sestagalli’s possible involvement in the project. Sestagalli has developed into a cult hero in the DeFi community who is known for his contributions to the so-called “DeFi 2.0” wave. Sestagalli founded Abracadabra.Money, Popsicle Finance and Wonderland Money and is widely recognized as the leader of what he calls the “Frog Nation” – a community of crypto enthusiasts committed to upholding the decentralized aspect of decentralized finance.

Last week, Arca’s Alex Woodard presented a proposal on sushi governance proposing that Sestagalli join the project as Head Visionary / Strategist as part of a reorganization. It also introduced Sushi team member Omakase as Head of Operations and Business Development. So far, the proposal has received mixed feedback from the sushi community, although Sestagalli’s potential involvement in the project has proven popular.

The previous Monday, Sestagalli posted a tweet promising a “DEX owned by Frogs for Frogs” on sushi around the time SUSHI was skyrocketing. At the time of going to press, it had 3,391 engagements.
Sushi up 17% amid DeFi 2.0 rescue rumors, Crypto Trading NewsTweet

Interestingly, before Woodard came up with the proposal, a separate proposal for a sushi government, entitled “Fire Omakase Due to Money Theft and Daniele Government Assault Collaboration, was made. Add a Constitution “had grown in importance. The Post alleged that Omakase censored messages and stole sushi funds, allegations that other posters on the forum have made against sushi in the past few days. Omakase posted a response refuting the allegations. “These claims are categorically wrong and frankly irresponsible,” they wrote. “Stealing money from companies is absurd when you consider that due to the very decentralized nature of a multisig process, there is no company and funds have never been misappropriated.”

The allegations against Omakase and Sestagalli’s possible involvement in the project come after months of internal problems in the sushi warehouse. Most recently, Joseph Delong, the project’s chief technology officer, announced his resignation and said he was “saddened that sushi is so internally and externally at risk”. Delong had previously noted that there had been “a lot of drama within sushi” and pointed to conflicts with a former team member named BoringCrypto and other departures from core team members. BoringCrypto held the license for Sushi’s kashi product and recently sold it to Sestagalli’s Abracadabra.Money project.

Before Delong left, a business development manager known as AG was fired for “persistent behavior that resulted in a toxic workplace.” Perhaps most notably, the project’s popular co-founder, 0xMaki, stepped down in September.

Rect released a damning investigation amid the ongoing drama in which an anonymous source alleged the Sushi team unevenly distributed an allocation of tokens from MISO’s BitDAO sale among team members. It was also alleged that 0xMaki was fired from the project and that a member of the core team used the sushi treasury to fund his day trading habits.

When the problems within Sushi became public, its original mark suffered. It hit a low of $ 4.91 on December 6, down 79% from his All time high from March. Now it seems to be recovering quickly.

Source: Crypto News Deutsch

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