SushiSwap administrator thanks Uniswap for topping up developers’ fund

The SushiSwap project administrator became the holder of 138,000 UNI governance tokens from Uniswap, the leading decentralized exchange (DEX), in an airdrop. According to him, their current estimated value (~$522,600) is equivalent to financing the work of the development team for several months.

2: Thank you Uniswap for the generous 130k UNI tokens. At current worth, they could fund our future dev team for several months! /Sincerely, All Sushi Lovers At SushiSwap! pic.twitter.com/n6vRxMg6rM

— SushiChef (@SushiSwap) September 17, 2020

The administrator expressed ‘sincere gratitude’ on behalf of the entire SushiSwap community.

Such comments sparked accusations of unfairness in receiving UNI tokens by the SushiSwap team. They amounted to a lack of compensation for forking Uniswap’s code in light of its success.

In response, Monero cofounder and Tari project cofounder Riccardo Spagni lamented that, due to the permissive licence on Uniswap’s code, they could not have acted otherwise. Even this explanation did not satisfy critics.

Uniswap could have had a less permissive license on their code, nothing stopped them from doing so.

— Riccardo Spagni (@fluffypony) September 17, 2020

To calm detractors, many of whom were among the commentators, the administrator announced that the developers’ fund had been moved to a multi-signature address.

Some users hoped that receiving 138,000 UNI tokens for the developers’ fund would halt the ongoing decline in SUSHI’s price.

According to CoinGecko, at the time of writing it had halved over the past week, and in 14 days the token had shed more than 80% of its value.

For a fuller account of the twists in SushiSwap’s history, indispensable to the DeFi boom, read in the article ForkLog.

In August, called existing DeFi projects ‘theatre of decentralisation’.

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