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Decentralized crypto exchange SushiSwap plans to change its business model to process more exchanges and earn more through fees.
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CEO of the decentralizedCrypto exchange SushiSwap, Jared Gray, said that the exchange has lost about $30 million over the past 12 months due to incentives for liquidity providers. According to the CEO, his DEX is currently using a token-based issuance strategy to incentivize exchange participants, but the current rate is unsustainable.
SushiSwap is now planning to redesign itstokenomics so that liquidity providers are no longer subsidized by issuance. And also completely revise the initial liquidity on the exchange. In the first quarter of next year, the DEX team plans to innovate to scale exchange volumes.
Jared Gray spoke about politics fullfinancial transparency of SushiSwap - he promised that the exchange will release public dashboards for DAO activities in the first quarter of 2023. However, the initiative is still under discussion. According to the head of the DEX, this is not something that should be given attention right now.
Recall that Gray previously reported that the communityThe exchange is actively discussing a proposal to transfer 100% of xSushi holders' remuneration to the company's balance sheet, as the project runs out of reserve capital to support operation and development.