SushiSwap is discontinuing credit service and launch pad

A new sign that times are tough for SushiSwap? The decentralized finance (DeFi) protocol has just announced that its Kashi loan service, as well as its Miso startup platform, will cease to exist. Let’s go back to the reasons for this choice.

SushiSwap is discontinuing some services

SushiSwap’s CTO Matthew Lilley announced the news on the occasion of the 2022 review. He explains that Kashi loan service as well as Miso launchpad. was not the most profitableand therefore it was decided to stop them:

According to SushiSwap’s CTO, Kashi had some design flaws and did not allow the company to make money. As for Miso, he didn’t have enough internal resources. The idea is that “focus only on the main source of incomeFrom SushiSwap, a decentralized exchange (DEX) platform.

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SushiSwap in financial trouble

It is not the first time that we observe SushiSwap’s financial woes in a difficult context for all cryptocurrency businesses in recent months. The decentralized finance protocol, voiced by CEO Jared Gray, said last December that it did not have enough resources to operate long-term. He explained:

Sushi has now distributed almost all of its token supply and should take advantage of new opportunities to diversify its supply and stock. must ensure the necessary liquidity for the continuation of its activities.»

He then approved the minutes allowed to operate for only a year and a halfin his opinion, a demanding situationemergency measures“. Shutting down lending and startup services is a step in that direction.

In any case, the news shows the challenges for DEXs to exist and their protocols to work in the long term. The future of SushiSwap seems uncertain at the moment.

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