The post SushiSwap unveils new council structure and multi-token model appeared on BitcoinEthereumNews.com.

The decentralized exchange SushiSwap is making its royal entry into the market with a multi-token model and a new council structure titled Sushi Labs. The latest models will work along with SushiSwap’s decentralized autonomous organization. The newly launched business organization will be an autonomous administrative identity entrusted with managing and supervising the entire Sushi ecosystem. Sushi is known for its cumbersome governance, and the original proposal led to heated discussion. The recent proposal was approved on 11/June/2024, and the radical shift is geared towards revitalizing a protocol. The TVL(Total Value Locked) of SushiSwap showed a downward market trend recently, and Uniswap continues to be a frontrunner with $6 billion in Total Value Locked. Sushi Labs will promote faster and more efficient development of decentralized finance applications.  The new move will help Sushi Labs to stay ahead in the rapidly transforming decentralized finance sector. Sushi Labs will give a fresh outlook to the tokenomics of Sushi DAO(Decentralized Autonomous Organization). It is reported that the newly formed business organization will mint 25 million tokens to support grant requests from Sushi’s decentralized autonomous organization. The new organization will focus on bolstering liquidity and strengthening The Treasury. They will be the single recipient of future airdrops earmarked for Sushi, and the global crypto market will react positively to the news. SUSHI, the native token of Sushi Labs, has been noted for its recent downward trajectory, and Sushi Labs will soon form a council-like structure with four main bodies.  The new council-like structure will feature a multi-sig wallet setup for transactions, which has similarities with the derivative protocol Synthetix. SushiSwap is known as the decentralized incarnation of Uniswap, and the leadership team behind SushiSwap believes it requires centralization to fuel growth. Sushi Labs, an autonomous company, will manage SushiSwap, and the new development will be…

---

Filed under: News - @ June 13, 2024 3:18 pm