Key Points:
The main reasons for discontinuing these products, according to Lilley, were poor design and a lack of funding. He tweeted, “We decided to deprecate Miso (Sushi Launchpad) and Kashi (Sushi Lending).” “Kashi had some design faults, ran at a loss, and lacked resources to devote to it for various reasons,” the author said.
In the first quarter of 2023, Lilley continued, SushiSwap would discontinue the two offerings and concentrate solely on its primary decentralized exchange, which has $390 million in total value locked in.
The SushiSwap team unveiled Kashi as a method for consumers to borrow crypto assets within the DeFi market in March 2021. Around the same time, Sushi launched MISO, short for Minimal Initial SushiSwap Offering, for using crowdsourcing to launch DeFi projects. These services were regarded as failed since they received little or no user uptake.
The choice to discontinue Kashi loans and the MISO launchpad is a part of a more significant restructuring effort for SushiSwap. Only 1.5 years of the operational runway are available for the protocol, according to Jared Grey, its “head chef.”
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