 | SushiSwap was the created by pseudonymous founder, Chef Nomi, who took the Uniswap an extra mile by adding rewards for providing liquidity to the exchange through a liquidity provider token (LP), called sushi (SUSHI). As sushi investors later discovered, putting money into an unaudited contract controlled by an unknown founder was not a great idea after Chef Nomi unexpectedly sold his share of LP tokens Saturday. The SushiSwap creator suddenly sold the tokens on Sep 05 2020 for 38,000 ETH worth about $13 million at the time. Today that much ETH is worth around $68 million. This prompted a 73% crash in the price of the SUSHI token and created a massive backlash from the project's supporters and accusations of an exit scam. In a series of tweets following the incident, Chef Nomi announced he had returned the entirety of funds he had obtained by selling SUSHI tokens for ETH on September 5. Chef Nomi also released control of the project to other developers, led by FTX CEO Sam Bankman-Fried. "I'm really glad that Nomi returned the funds," Sam Bankman-Fried said. "We won't forget what he did, but we also won't forget that in the end he made the right choice". We won't forget what that SBF did either, ironic isn't it. [link] [comments] |
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