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An anonymous leader at decentralized exchange protocol Sushiswap — Maki — is set to step aside from his position with the project, according to a well-placed source.
Sushiswap gatecrashed the so-called decentralized finance space last summer, piggybacking on the success of predecessors like Uniswap. DEXes provide a way for crypto traders to swap tokens peer-to-peer. Such venues have seen their volumes surge over the last year as traders flock to platforms with less regulatory oversight and more tokens than centralized counter-parts.
It is not exactly clear why Maki — who effectively is the most important person in the Sushi ecosystem — is leaving. Decentralized networks are governed by a community of participants versus a corporate board and can have an impact on the makeup of protocol leadership.
Maki's address has been removed as a multisig, indicated by this transaction on the blockchain.
Volumes on Sushiswap have leveled off after surging in May 2021. In August, the protocol saw traders swap $10.2 billion worth of tokens.
At last check, Sushi was trading at more than $14.63 per token. It's up more than 850.4% over the last year, according to data from CoinGecko. The firm has a market capitalization above $2.8 billion.