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On Monday, the SushiSwap community chose Jared Grey to take over as CEO, shifting control inside the decentralized exchange (DEX) following months of readjustment and discussion about the protocol’s leadership.
Grey, who was formerly the CEO of the DeFi network EONS and the CEO of the crypto exchange platform Bitfineon, will now be the new “Head Chef” at SushiSwap.
I'm honored & excited to accept the Head Chef role at @SushiSwap. The trust the community & team have placed in me to help shape the next stage of the Sushi protocol gives me pause & reflection on what Sushi stands for, a community project for everyone. /1
— Jared Grey (@jaredgrey) October 3, 2022
DEXs are applications built on the blockchain that facilitate extensive trading of digital assets among numerous users. In contrast to centralized exchanges, they employ automated algorithms as opposed to serving as an intermediary to facilitate transactions between buyers and sellers.
Grey, who triumphed with almost 84% of the 13 million votes cast for the five candidates on the ballot, told CoinDesk that he aimed to increase protocol interaction and strengthen the exchange’s internal structure.
Grey: SushiSwap filled with opportunities
He added that there is still a lot of inefficiencies in the sector with regard to automated-market makers (AMMs), protocol user interfaces, and other areas where we can keep improving to provide more immersive product experiences. “I think SushiSwap (SUSHI) has an opportunity to lead in these areas,” Grey continued who further stated:
“I think there are bright and passionate minds on Sushi’s team, and I want to help them realize their ambitions. I believe I have the experience that will help them do so.”
At Sushi Swap, there had been organizational issues for a year before the election. De facto CEO and founding member 0xMaki departed for an outside advisory post in September 2021. CTO Joseph Delong left in December to take the same position at NFT lending platform Astaria, as TheCoinRise reported.
SushiSwap was developed as an exact replica of Uniswap with additional governance and liquidity mining capabilities. Although attempting to advance the first, it seems to be lagging behind. Uniswap is the best-performing DEX according to data from CoinGecko, with a 24-hour trading volume of about $415 million in comparison to $12 million in SushiSwap.
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