SushiSwap Migration Ushers in Era of ‘Protocol Politicians’

SushiSwap Migration Ushers in Era of ‘Protocol Politicians’


SushiSwap, the community-owned automated market maker (AMM), now has a new set of leaders. Nine signers of a multisig wallet controlling the project’s funds have been elected to govern SushiSwap through full decentralization.

On Ethereum, a multisig has worked out to be something like a board of directors in the analog world, such that it takes any six of the nine members to approve changes to the SushiSwap code or to spend its development funds.

These new leaders were chosen through a process largely inside the SushiSwap Discord server following the departure of two of the project’s three co-founders. Some stumped for a spot and some sailed through by name recognition within the community, reflecting a campaign-like process we are likely to see more of in the future.

For context, cryptocurrency projects approve actions using signatures by private keys. Properly signed statements authorize the Ethereum blockchain to take the actions it is directed to take. By allowing multiple-signature setups – where actions can be approved by a few of a larger set of authorized signers – smart-contract-based protocols can create a board, but without the face-to-face meetings.

In the SushiSwap election, 2,143 wallets participated,

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