Cryptocurrencies
Group of Crypto DAOs Considers Taking Over Sushi in Latest DeFi Twist
- Dcentralized crypto exchange Sushi has been hit by infighting
- ‘Everything in this space is experimental,’ Arca’s Dorman says
This article is for subscribers only.
The beleaguered decentralized cryptocurrency exchange Sushi has become the target of a potential takeover attempt by several supposedly autonomous rivals.
In a proposal posted on Sushi’s forum Wednesday, DeFi bank Ondo Finance -- headed by a former digital assets associate at Goldman Sachs Group Inc. -- is proposing that a slew of DAOs, or decentralized autonomous organizations, band together to take over some parts of the governance of Sushi. If Sushi’s community favorably responds to the “temperature check,” the group will submit a more formal proposal, Ondo Chief Executive Officer Nathan Allman said in the post.