Silent performer SushiSwap (SUSHI) has increased to $0.9875, up 3.44% over the last day. Despite a 53% increase in worth over the last seven days, the decentralised exchange token has gone mostly unnoticed. SushiSwap is nursing a highly ambitious tokenomics revamp behind the quiet parabolic surge.
As the current model is scheduled to reach full distribution in December, the protocol’s new CEO, Jared Grey, has asked for community opinion to rework the tokenomics of the system. Grey highlighted a few of the systemic issues the new plan aims to solve, with an emphasis on longer-term sustainability.
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These issues include LP incentives, balancing value, and liquidity subsidisation. The SushiSwap tokenomics model’s proposed next step described its economic model and its intention to make money through trading, routing, and staking services.
Furthermore, the strategic alliance it intends to sign will increase its revenue stream in the future.
With these redesigned tokenomics, SushiSwap hopes to achieve a number of objectives, the main ones being to further decentralisation, increase liquidity, and improve the use of its own token, SUSHI.
Overcoming the odds
SushiSwap’s path through the cryptocurrency ecosystem has not been without difficulties. Although the protocol gained momentum following Chef Nomi’s departure, it has been in a perpetual state of competition with its two major competitors, Uniswap (UNI) and PancakeSwap (CAKE).
The United States Securities and Exchange Commission (SEC) filed a subpoena related to an inquiry the regulator requested from the company, which caused the expansion drive of SUSHI to be derailed earlier in the year.
In July, the protocol showed signs of growth again, a trend that SUSHI has maintained to this point. If accepted, the tokenomics plan might provide the DeFi system a new boost in the future.
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