EthereumExchanges

SushiSwap Creator Returns $ 14 Million In ETH To The Project

The founder of the decentralized exchange SushiSwap, known under the pseudonym Chef Nomi, announced the return of ETH in the amount of $ 14 million to the project fund.

About a week ago, it became known that Chef Nomi exchanged SUSHI tokens for ether and withdrawn them to his own wallet. This angered the cryptocurrency community, and Chef Nomi was bombarded with allegations of fraud. Therefore, all administrator keys were transferred to FTX CEO Sam Bankman-Fried. 

SushiSwap later brought liquidity from the parent exchange Uniswap to its own platform. As a result, Uniswap’s liquidity ratio dropped by 75%.

“I returned the $ 14 million in ethers back to the vault. Let the community decide how worthy I am to be the creator of SushiSwap. ETH, SUSHI or any other currency. With any blocking period, at your discretion, “Chef Nomi tweeted.

In addition, in a series of tweets, he apologized to the entire DeFi community and announced that he would continue to participate in discussions and technical implementation of the project, but “not in the first role.” Chef Nomi emphasized that he does not claim to manage SushiSwap. The founder of the project expressed the hope that the exchange will continue to develop, and his wrong actions will not interfere with the work of an automated market maker, fully managed by the community. SushiSwap’s success will set a precedent for other user-controlled projects, Chef Nomi said.

The volume of assets on the SushiSwap exchange  exceeded $ 700 million in just three days after its appearance. In early September, Quantstamp specialists audited the SushiSwap smart contract and discovered 10 non-critical vulnerabilities in the protocol.

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