Sushi community members elected Jared Grey as CEO on Monday, transferring power within the decentralized exchange after months of realignment and controversy surrounding the protocol’s governance.
Grey, who was formerly CEO of decentralized finance (DeFi) platform EONS and CEO at crypto exchange Bitfineon, will serve as Sushi’s “head chef,” as the company terms the role.
Sushi was created as a copy of Uniswap with added liquidity mining and governance features. Although aiming to improve on the original, it appears to be falling behind: Data from CoinGecko ranks Uniswap as the top-performing DEX with 24-hour trading volume of nearly $415 million. Sushi has $12 million.
DEXs are blockchain-based apps that coordinate large-scale trading of digital assets between many users. Unlike centralized exchanges, they use automated algorithms rather than acting as a financial intermediary between buyers and sellers.
Grey, who won with about 84% of a total 13 million votes across a ballot of...
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