SUSHI Down 45%: What’s Driving the Decline?

SUSHI Down 45%: What’s Driving the Decline?

The price of SUSHI, the native token of SushiSwap, a decentralized exchange, is down 45% from February 2023, when prices peaked at $1.63, the highest level in six months.

SushiSwap Token Redesign

This contraction is despite the successful implementation of a proposal to redesign SUSHI’s tokenomics, making SUSHI, a governance token, more deflationary.

Trending: Dozens Of Children Go Missing In Cleveland In Just Two Weeks In Disturbing Trend

The proposal was first made in December 2022 by Chief Chef Jeremy Grey and was voted on and agreed on by the community early this year.

The proposal passed with a majority vote and will seek to reduce the SUSHI supply over the years. At the same time, it will increase the rewards for liquidity providers while encouraging users to stake SUSHI for longer.

Grey argued that this implementation would promote decentralization

Continue reading


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report •
Thanks for sharing!
Send this to a friend