SushiSwap, a community-focused DEX launched in September 2020 by two anonymous developers, 0xMaxki and Chef Nomi, announced plans to wind down its two offerings, Kashi (Sushi Lending) and Miso (Sushi Launch Pad), in the first quarter of 2023.
“In Q3/Q4 it became obvious that there was a strong need to prioritise, and we decided to focus on ideas to improve our most loved and profitable product, the DEX, SushiSwap. This meant realigning our priorities,” Lilley tweeted in a lengthy thread summing up the development of SushiSwap in 2022.
“First, this meant sunsetting a number of products, which as much as they needed the support, they weren't getting the TLC deserved, and it couldn't be justified by the size of the team and at the detriment of our beloved SushiSwap to continue maintaining them.”
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Lilly added that Kashi had a number of design flaws and ran at a loss — according to DeFi aggregator DefiLlama, Kashi’s TVL plummeted from its all-time high of $40 million in September 2021 to just $866k at the time of writing. Additionally, SushiSwap team didn’t have enough resources to sustain the development of both Kashi and MISO.
“We have the plan to launch successors of these products in the future once we have the resources to dedicate product teams towards them, but believe that requires focusing entirely on the breadwinner at the time being which is inarguably the DEX,” Lilly concluded.
