SushiSwap's Head Chef Steps Down: Three Years of Ups and Downs from 9 Billion to 1 Billion

[比推] The old “chef” of SushiSwap, Jared Grey, has officially stepped down. The managing director, who has served for more than three years, announced that he will no longer be in charge of the kitchen, but will continue to provide advice in an advisory capacity.

It's quite lamentable to say that this once-decentralized finance veteran, which had a TVL of over $9 billion, now has a locked value of just over $100 million. During Grey's tenure, a lot of things were stirred up—multi-chain expansion, business restructuring, but unfortunately, the overall trend is hard to reverse.

This blood transfusion came quite suddenly. The venture capital firm Synthesis invested a large sum, and founder Alex McCurry directly took over the project. Including this time, SushiSwap has undergone its second major overhaul in three years. Old players know that the high-level chairs in the DeFi track are never easy to sit steadily.