Cryptocurrencies
SushiSwap Infighting Exposes Pitfalls of Decentralized Crypto
- Investors propose a restructuring among core developer discord
- Chief technology officer announced resignation Wednesday
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SushiSwap, the decentralized cryptocurrency exchange that started with a scandal, is facing a crossroads as infighting among developers has investors seeking to reorganize the supposed autonomous organization.
Two large owners of Sushi tokens, which gives holders governance rights over how the protocol operates, submitted a proposal to restructure the project that may be considered for adoption as early as this week. The plan suggests establishing a more formalized entity to manage the effort, and checks and balances to ensure the proper spending of funds.