SushiSwap CTO threatens to leave as power struggles escalate
Joseph Delong, CTO of Exchange SushiSwap, said he will leave the project unless the core team is given more autonomy and higher compensation. This happened amid a series of previous power struggles.
“I’m transferring Trident, and if you don’t give us the autonomy to run our business, the ability to create leadership and increase board pay, I’ll leave,” said Delong. tweet on Sunday (December 5th). Trident refers to a new type of DEX that SushiSwap is developing.
Joseph Delong – CTO of SushiSwap .exchange
Let’s find out what prompted this CTO to issue such a warning.
Plot
SushiSwap is a decentralized exchange (DEX) that was branched off from Uniswap. It is famous for a vampire attack that tries to attract the Uniswap user base by stimulating new users with token rewards.
In September 2020, SushiSwap hit the headlines when one of the founders, Chef Nomi, raised funds for the project’s development team and sold them for Ether, resulting in a sell-off. He later returned the $ 14 million and expressed remorse. This resulted in the temporary transfer of control of the project to another prominent figure, FTX CEO Sam Bankman-Fried, who then fell into the hands of a person named 0xMaki.
One year later 0xMaki explain Departure. He said the project was taking its toll and he needed to relax a little. 0xMaki is considering whether to write a book about what happened at SushiSwap and will continue to provide advice on this project.
At the bottom of his post, 0xMaki says:
“I have accepted this decision and I feel at peace.”
But it seems that 0xMaki was forced to make that decision. A leaked screenshot from a SushiSwap telegram appears to show Delong asking if the project should encourage Maki to leave, with 91% of the 11 respondents approving the decision. In addition, a post now deleted on SushiSwap forum as it claims 0xMaki was fired.
“Anyway, with SUSHI prices low, let’s take a moment to see the behind-the-scenes scams at Sushi. 0xMaki was fired. Most of the good developers have left. Unfortunately, greed has taken over the community, ”said BoringCrypto, a former SushiSwap developer tweet.
BoringCrypto named three other developers who probably also left: 0xKeno, LevX and Mudit Gupta. 0xKeno has left the project, according to his Twitter bio, while LevX is apparently working on the NFT project. For his part, Mudit Gupta said he has left the core team but is still an advisor.
ltimatum
Following these public allegations, Delong was To write a series of tweets to try to strike back at what he termed “unreasonable defamation”.
Delong says Gupta’s departure was due to misguided leadership. He said it took four and a half months to find a quality developer.
Delong admitted that some of the former team members didn’t like him:
“Most of them have been asked to leave because of poor performance or the inability to work with the team, which is the case with BoringCrypto.”
Delong criticized BoringCrypto for claiming he built products at SushiSwap only to sell them to another crypto project called Magic Internet Money.
Finally, Delong said he will leave if the community doesn’t support the current team.
“I would transfer all accounts peacefully and then go and build something equally successful.”
Delong also claims he is not adequately compensated for a year of service at $ 300,000.
To prove his point, Delong suggested to SushiSwap’s governance system that all core teams – except me – should be compensated with a one-time payment of 200,000 SUSHI ($ 964,000 USD) from the project budget. This SUSHI number has no reservation or blocking period so members can sell it right away if they want. With 19 individuals listed, the award amount is $ 18.3 million.
Currently 68% of the 79 voters reject the proposal.
“This is an experiment that shows that less than 1% of the publications go to the controversial core team. You failed, ”Delong speak.
An official answer
On December 5th, the SushiSwap team demonstrate official statement on the current situation. The statement said a former member of the so-called AG – which once ran SushiSwap in Asia – was fired for unprofessional behavior and was behind many recent tweets (like those accusing 0xMaki of being fired. Waste).
The declaration recognizes the difficulties of running a project through a decentralized structure, particularly in terms of accountability and transparency.
“We agree and acknowledge that there have been mistakes. In the future we want to involve the community in larger decisions and create more transparency. ”
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SushiSwap CTO threatens to leave as power struggles escalate
Joseph Delong, CTO of Exchange SushiSwap, said he will leave the project unless the core team is given more autonomy and higher compensation. This happened amid a series of previous power struggles.
“I’m transferring Trident, and if you don’t give us the autonomy to run our business, the ability to create leadership and increase board pay, I’ll leave,” said Delong. tweet on Sunday (December 5th). Trident refers to a new type of DEX that SushiSwap is developing.
Joseph Delong – CTO of SushiSwap .exchange
Let’s find out what prompted this CTO to issue such a warning.
Plot
SushiSwap is a decentralized exchange (DEX) that was branched off from Uniswap. It is famous for a vampire attack that tries to attract the Uniswap user base by stimulating new users with token rewards.
In September 2020, SushiSwap hit the headlines when one of the founders, Chef Nomi, raised funds for the project’s development team and sold them for Ether, resulting in a sell-off. He later returned the $ 14 million and expressed remorse. This resulted in the temporary transfer of control of the project to another prominent figure, FTX CEO Sam Bankman-Fried, who then fell into the hands of a person named 0xMaki.
One year later 0xMaki explain Departure. He said the project was taking its toll and he needed to relax a little. 0xMaki is considering whether to write a book about what happened at SushiSwap and will continue to provide advice on this project.
At the bottom of his post, 0xMaki says:
“I have accepted this decision and I feel at peace.”
But it seems that 0xMaki was forced to make that decision. A leaked screenshot from a SushiSwap telegram appears to show Delong asking if the project should encourage Maki to leave, with 91% of the 11 respondents approving the decision. In addition, a post now deleted on SushiSwap forum as it claims 0xMaki was fired.
“Anyway, with SUSHI prices low, let’s take a moment to see the behind-the-scenes scams at Sushi. 0xMaki was fired. Most of the good developers have left. Unfortunately, greed has taken over the community, ”said BoringCrypto, a former SushiSwap developer tweet.
BoringCrypto named three other developers who probably also left: 0xKeno, LevX and Mudit Gupta. 0xKeno has left the project, according to his Twitter bio, while LevX is apparently working on the NFT project. For his part, Mudit Gupta said he has left the core team but is still an advisor.
ltimatum
Following these public allegations, Delong was To write a series of tweets to try to strike back at what he termed “unreasonable defamation”.
Delong says Gupta’s departure was due to misguided leadership. He said it took four and a half months to find a quality developer.
Delong admitted that some of the former team members didn’t like him:
“Most of them have been asked to leave because of poor performance or the inability to work with the team, which is the case with BoringCrypto.”
Delong criticized BoringCrypto for claiming he built products at SushiSwap only to sell them to another crypto project called Magic Internet Money.
Finally, Delong said he will leave if the community doesn’t support the current team.
“I would transfer all accounts peacefully and then go and build something equally successful.”
Delong also claims he is not adequately compensated for a year of service at $ 300,000.
To prove his point, Delong suggested to SushiSwap’s governance system that all core teams – except me – should be compensated with a one-time payment of 200,000 SUSHI ($ 964,000 USD) from the project budget. This SUSHI number has no reservation or blocking period so members can sell it right away if they want. With 19 individuals listed, the award amount is $ 18.3 million.
Currently 68% of the 79 voters reject the proposal.
“This is an experiment that shows that less than 1% of the publications go to the controversial core team. You failed, ”Delong speak.
An official answer
On December 5th, the SushiSwap team demonstrate official statement on the current situation. The statement said a former member of the so-called AG – which once ran SushiSwap in Asia – was fired for unprofessional behavior and was behind many recent tweets (like those accusing 0xMaki of being fired. Waste).
The declaration recognizes the difficulties of running a project through a decentralized structure, particularly in terms of accountability and transparency.
“We agree and acknowledge that there have been mistakes. In the future we want to involve the community in larger decisions and create more transparency. ”
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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