BTCUSDT: Loading...ETHUSDT: Loading...BNBUSDT: Loading...XRPUSDT: Loading...ADAUSDT: Loading...SOLUSDT: Loading...DOTUSDT: Loading...DOGEUSDT: Loading...AVAXUSDT: Loading...LTCUSDT: Loading...LINKUSDT: Loading...BCHUSDT: Loading...EGLDUSDT: Loading...Market Cap: $Loading...
BTCUSDT: Loading...ETHUSDT: Loading...BNBUSDT: Loading...XRPUSDT: Loading...ADAUSDT: Loading...SOLUSDT: Loading...DOTUSDT: Loading...DOGEUSDT: Loading...AVAXUSDT: Loading...LTCUSDT: Loading...LINKUSDT: Loading...BCHUSDT: Loading...EGLDUSDT: Loading...Market Cap: $Loading...

Sushi TVL drops due to slash of lending platform

780f28bc-6ca1-4fc6-84dd-0b4012ff38ed

Written by

William Miller
Published on

January 4, 2023

Key points: 

  • Sushi closed out the year by shutting down two of its forks amid little public interest. 
  • Lending platform Kashi and token launch platform MISO are going out of business.
  • The platform noted that it will focus on a decentralized exchange or DEX products.
  • SushiSwap CEO Jared Gray revealed plans focused on redesigning SushiSwap’s token economics.
  • Sushi has a total of $459.72 million locked, compared to $4 billion at the start of 2022.

Famed DeFi platform Sushi closed out the year by shutting down two of its forks amid little public interest. However, the platform also noted that it will focus on a decentralized exchange or DEX products.

In a recent Twitter thread, Sushi’s CTO Matthew Lilley announced that lending platform Kashi and token launch platform MISO are going out of business.

Matthew Lilley Tweet

As mentioned earlier, that focus will shift to DEX offerings. Lilley wrote,

In Q3/Q4 it became obvious that there was a strong need to prioritize, and we decided to focus on ideas to improve our most loved and profitable product, the DEX, SushiSwap. This meant realigning our priorities

Earlier this week, SushiSwap CEO Jared Gray revealed plans focused on redesigning SushiSwap’s token economics. Back in December, the platform even made a proposal to protect its treasury.

This is how SushiSwap evolved

Sushi has a total of $459.72 million locked. That's very little compared to the past few months.

Sushi Tvl

It should be noted that SushiSwap is the most popular fork of the network. This platform alone accounted for $391.59 million. Unfortunately, this is the lowest value locked on the network in the last year. Ethereum accounted for most of it at $281.48 million.

Currently, Sushi is the sixth largest network in the DEXes TVL ranking. Curve and Uniswap occupy this space.

Kashi, on the other hand, holds assets worth just over $800,000, indicating lower demand for loan products. Back in 2021, the platform managed to raise $40 million, but the idea didn't last long.


From the blog

The latest industry news, interviews, technologies, and resources.

Comprehensive Btcman guide to show the perks and propositions of pragmatic play provider💲One of the most famouse in the casino gaming industry

Overview on slots, bonuses, software and features of Pragmatic Play

Comprehensive Btcman guide to swing trading crypto strategies, bots, taxes, platforms, and indicators for profiting from medium-term price moves.

Photo of Swing Trading Crypto ➤ Riding the Waves for Profit
View all posts