Next year’s roadmap for this altcoin includes the development of a DEX aggregator, a decentralized incubator and ‘several secret projects’.
Plans for altcoin revealed
The CEO of decentralized exchange (DEX) SushiSwap has shared several planned updates to the platform, which he says aims to ’10x’ market share by 2023, just a month after warning of a ‘significant deficit’ in its treasury.
Sushi CEO Jared Gray announced the plans for the decentralized finance (DeFi) platform in a January 16 post on Medium, saying it will focus on the product stack in line with previous plans to make Sushi more sustainable. He also stated:
“Sushi dominates ~2% of the AMM market and 0% of the pickup market. We aim to increase our market share 10 times in 2023 by realizing our vision.”
Read how we're revitalizing @SushiSwap in 2023!https://t.co/KTnNgtUMaw
— Jared Grey (@jaredgrey) January 16, 2023
The newly announced plans include a DEX aggregator to be released in Q1 and a ‘decentralized incubator’ on the cards for 2023.
Gray said the upcoming DEX aggregator, a tool that gives users access to a variety of DeFi protocols, has been created in ‘incognito mode’ over the past year and is part of plans to increase the scalability and sustainability of its business.
Sushi Studios vision revealed
Gray also laid out his vision for Sushi Studios, a supposedly decentralized incubator where Sushi will help launch self-financed projects to ‘support ecosystem growth without burdening the DAO treasury.
Along with the long-awaited NFT marketplace Shoyu, which is expected to launch in the first quarter along with a permanent DEX platform, it added ‘several secret products’ currently in development.
The push for more proposals came after a December 6 governance proposal put forward by Gray revealed that Sushi’s treasury had only a year and a half left of the track, which he said at the time “threatened Sushi’s operational viability.”
CEO stated that they experienced loss
On December 11, Gray said that DEX had lost $30 million in the previous 12 months due to incentives for liquidity providers (LPs). Later that month, he made a proposal to redesign the tokenomic properties of the SushiSwap token to try to strengthen Sushi’s treasury reserves. cryptocoin.comAs we mentioned, SUSHI is traded at $1.28.
In a recent post, Gray confirmed that ‘we are taking measures to secure our runway for multi-year operations’. As for Sushi’s other 2023 plans, the platform is also building a governance dashboard and focusing on user experience.
The dashboard shows Sushi’s budget, crypto wallets for each project, and Treasury spending audit results. “Ultimately, we will put you first in everything we build by providing deep liquidity, optimal pricing, sustainable tokenomics and an easy-to-use platform,” Gray said.
