Despite the temporary setback in its treasury in Dec 2022, SushiSwap, a decentralized exchange, is not backing down. The platform’s CEO, Jared Grey, has unveiled an ambitious plan to revamp the platform in the coming months, with the goal of skyrocketing its market share by X10 in 2023.
In a recent post, Grey said that “we took measures to secure our runway for multi-year operations. Ultimately, we will provide deep liquidity, optimal pricing, sustainable tokenomics, & an easy-to-use platform, placing you first in everything we build.”
“Sushi commands ~2% of the AMM market & 0% of the aggregation market. By executing our vision, we intend to 10x our market share in 2023.” Grey.
The decision to expand the offerings of the platform comes after a proposal submitted by Grey, on December 6, 2022.
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He confessed that the platform had incurred a loss of $30 million over the preceding year as a result of incentives provided to liquidity providers. This prompted him to put forth a proposal to revamp the tokenomics of SushiSwap in an effort to bolster the platform’s treasury reserves.
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