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Chef says DEX aggregator will multiply SushiSwap’s market share 10-fold

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Chef says DEX aggregator will multiply SushiSwap’s market share 10-fold

Source: blockchain.news

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Just a month after issuing a warning about a huge shortfall in its treasury, the CEO of decentralized exchange (DEX) SushiSwap has announced many planned changes to the platform. These upgrades, according to the company, are designed for “10x” its market share by 2023. In a post published on Medium on January 16, Sushi CEO Jared Gray laid out goals for the finance platform. decentralized (DeFi). He said the platform would focus on Sushi’s product stack in keeping with previous promises to make the company more sustainable.

Among the recently revealed ambitions is the establishment of a decentralized incubator in 2023 and a DEX aggregator that is scheduled to go live in the first quarter.

As Gray said, the future DEX aggregator, which is a tool that gives users access to numerous DeFi protocols, was built in “stealth mode” throughout the past year. This was done as part of the company’s ambitions to increase the scalability and sustainability of its business.

Gray also detailed plans for Sushi Studios, a “decentralized incubator” in which the Sushi platform would aid in the introduction of self-funded initiatives to foster ecosystem expansion without putting a burden on the DAO’s treasury.

The company is working on a number of secret products at the moment, including its long-awaited non-fungible token (NFT) marketplace, Shoyu, which is scheduled to be available in Q1 2019, along with a permanent DEX platform.

The push for new offers comes as a result of a government plan presented by Gray on December 6. The proposal indicated that Sushi’s treasury had only a year and a half of track left, which, according to Gray at the time, put Sushi’s business in jeopardy. ability to continue operations.

On December 11, Gray reported that the DEX had incurred a $30 million loss over the previous year due to incentives for liquidity providers (LPs).

In an effort to strengthen Sushi’s financial resources, he suggested reworking the tokenomics of the SushiSwap token. This was done in order to improve Sushi reserves.

As for the other goals that Sushi has for 2023, the platform is working on developing a governance dashboard and putting an emphasis on the user experience.

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