SushiSwap CTO resigns citing internal structural chaos

Ethereum

Late Wednesday, Joseph Delong, chief technology officer of SushiSwap, the 13th largest decentralized exchange, or DEX, by trading volume, tendered his immediate resignation from the role. Explaining his decision, Delong gave the following statement:

“I wish Sushi the best and am saddened that Sushi is so imperiled within and without. The chaos that is occurring now is unlikely to result in a resolution that will leave the DAO as much more of a shadow than it once was without a radical structural transformation.”

Previously, Delong had voiced disappointment over the inability for SushiSwap to launch on Optimism, a layer two scaling solution for Ethereum (ETH). Delong also claimed to receive little support from centralized exchanges about hackers’ identities after the SushiSwap’s token launchpad experienced a $3M hack, saying it was the “hardest day of my life so far.”

But it appears that it wasn’t simply the technical setbacks of the project that played a role in Delong’s decision. In a series of follow-up Tweets after the announcement, Delong posted screenshots of alleged harassment from SushiSwap users, to which he then cited “it’s the community that does it for me.”

“I highly recommend the installation of a C-suite from outside the DAO [Decentralized Autonomous Organization] and give them the tools to effectively manage a team. Be wary of any self-proclaimed leaders arising from the current core team.” said Delong.

Products You May Like

Articles You May Like

WEF panel discusses the coming tokenized economy
CFTC commissioner calls for global industry standards in crypto regulation
How to resurrect the ‘Metaverse dream’ in 2023
Price analysis 1/17: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT
Former SEC Official’s Crypto Warning: Regulatory Onslaught Is Just Beginning

Leave a Reply

Your email address will not be published. Required fields are marked *