The SushiSwap Crew Suggests A Fresh Prospective “Head Chef”

The community has been asked to appoint Jonathan Howard as Head Chef, the project’s CEO, according to SushiSwap, the well-known decentralized exchange. SushiSwap is the seventh-largest decentralized exchange, according to DeFiLlama, and it has approximately $660 million in locked deposits.

The nomination was made public in a governance post published on Tuesday by Sushi writer JiroOno. The proposal read, “We’ve found the candidate we think represents the best alternative for Sushi and are now looking to submit this candidate to the Sushi community.”

There is a heat check poll going on right now, and it presently has 40 votes and is 65 percent in support of the hire. There will be a snapshot vote for SUSHI holders to decide whether to hire Howard if the poll results stay good and the forum call goes well.

If hired, Howard would be responsible for overseeing daily operations management and directing efforts to deliver both pending and new items at Sushi.

According to his Linkedin bio, Howard is currently the co-founder and chief technology officer at an NFT-focused firm called BigHeadClub and previously founded tech startups. In a Twitter post, Howard wrote he was “excited and beyond honored that the SushiSwap team is nominating me as Head Chef.”

The search to find the next Sushi Head Chef has been going on since the departure of former Sushi head Maki in September 2021. 

The majority of community members have expressed support for the governance post that announced Howard’s nomination, which is consistent with the heat check poll.

Many are enthused with Sushi’s prospects if Howard came onboard. In the governance discussion, Matthew Lilley, a core Sushi developer who goes by the pseudonym ImSoftware wrote:

“Have spoken to Jon a handful of times and have been impressed. I think having a head chef with a background in technology & art is perfect for where we’re at now and where we’re going.”

Even though Howard’s nomination received mostly positive feedback, some people disagreed with his selection as the new Head Chef. One of the primary difficulties, according to these individuals, is Howard’s lack of DeFi experience.

Pegbit, SushiSwap core contributor, who was part of the team who interviewed Howard, said, in a detailed response:

 “During the interview with Jon, he struck me as someone nice with skills. Still, I did not see him as a head chef at that moment because he had no relevant experience in DeFi and didn’t bring up anything extraordinary on the roadmap he presented.”

Others in the group disagreed with the planned Head Chef’s salary since it was too expensive for Sushi’s budget. According to the information in the governance post, Howard would receive a base salary of $800,000 per year in USDC stablecoin if appointed.

SushiSwap’s treasury is worth $19.4 million

The Head Chef receives 600,000 SUSHI tokens with a four-year vesting period and a six-month cliff as token incentives. Each SUSHI token is now worth $1.29.

Additionally, a one-time bonus of 350,000 SUSHI tokens will be given to the Head Chef. In addition to this, the Head Chef will receive 1.2 million SUSHI rewards when the SUSHI token reaches specific price thresholds between $3 and $11.

In addition, Howard will be eligible for a 24-month severance payment equal to the base salary plus the aforementioned token incentives if the community decides to fire him for any reason. The incentive and severance package might be worth millions of dollars every year, depending on the SUSHI price.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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