SushiSwap Financial Difficulties
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An editor at Coincrop
03 Jan 2023 | 2 min read
s SushiSwap continues to face financial difficulties, the platform has decided to step away from its launchpad and lending protocol.
In the face of mounting financial difficulties over recent months, Sushiswap, an Ethereum-based DeFi platform has declared its intention to cut their token launchpad and lending protocol from their services.
Just days ago, Matthew Lilley - the CTO of SushiSwap - declared that select services such as its lending protocol and launchpad will be discontinued.
In his explanation of the decision, the CTO detailed that Sushi Lending had been running at a loss and suffered from numerous design flaws. Furthermore, dedicating significant financial and human resources to fix this unsuccessful lending protocol was no longer practical for the SushiSwap group. The same rationale applied with their launchpad deprecation; lack of available resources rendered its upkeep impossible.
While the CTO's Twitter thread suggests that Sushiswap will eventually be able to recreate the two demoted services, they are currently dedicated to utilizing their resources on optimizing their network of decentralized exchanges. However, once they have obtained sufficient resources and funding, these services may become available again.
JonathanAn editor at Coincrop
Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.
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