On SUSHI's +94.5% week - and beyond
SushiSwap is easily one of crypto’s biggest redemption arcs of 2020.
For those that need a refresher, the Uniswap clone landed in plenty of hot water after its founder unilaterally sold half of the projects’ $27m developer fund back in early September. Literally overnight, SushiSwap went from a community-led fork done right to a poster child of then-emerging ‘DeFi is a fat bubble’ narrative.
To no one’s surprise, the liquidity on the exchange started drying out soon thereafter, its daily trading volume plummeting by tens of millions of dollars in a week’s time. The term ‘exit scam’ was getting thrown around a lot.
What a difference two and a half months make. Since its Chef Nomi fiasco, the embattled DEX has mustered a complete 180, slowly reclaiming the community trust and rekindling its nascent user base.
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