• February 27, 2024

Satoshihodler.com

All the latest cryptocurrency news

SushiSwap Head: There is Significant Deficit in Project’s Treasury

Reading time: < 1 minute

Jared Gray, head of DEX SushiSwap, has said that the platform is allegedly facing a “significant deficit” that threatens its operations. To solve the problem, he has proposed to temporarily direct all commission proceeds to the project’s treasury.

He has written:

“Currently, the treasury is designed for approximately one and a half years. Therefore, the situation requires immediate action to ensure that resources are sufficient for uninterrupted operation.”

He has said that the project is operating at a $5 million annual deficit and the original estimate was $9 million, but that has been reduced by renegotiating infrastructure contracts, reducing “ineffective dependencies” and freezing the budget for non-critical personnel.