SUSHI Up 17% Amid DeFi 2.0 Redemption Rumors

SUSHI has had a tough couple of months. However, it leads the DeFi market as it is up 17.1% in the past 24 hours and was trading at $ 9.27 at press time.

Other DeFi tokens that have also seen a boom in the past 24 hours are xSUSHI (18.8%), FXS (15.4%).

Top 10 DeFi has increased a lot in the past 24 hours | Source: Coinecko

A major factor in the rise of SUSHI is the excitement about the possible involvement of Daniele Sestagalli in the project. Sestagalli has become a hero in the DeFi community, known as a contributor to the so-called “DeFi 2.0” wave.

Founded Abracadabra.Money, Popsicle Finance and Wonderland Money, Sestagalli is considered to be the leader of what he calls the “Frog Nation” – a community of crypto enthusiasts who work to preserve the non-existent side of things.

Last week, Alex Woodard of Arca Sestagalli suggested joining the project as “main visionary / strategist” during the sushi reorganization. Omakase is also expected to appoint Omakase from the Sushi team as CEO and business development. So far, the proposal has received mixed responses from the sushi community.

Last night was Sestagalli post The tweet promised “a dedicated frog-owned DEX” on sushi as the SUSHI token skyrocketed. It has received 4,747 interactions at the time of going to press.

Source: TradingView

Interestingly, a separate proposal from the sushi administration before Woodard made the proposal was titled, “Omakase fire for money theft and collusion against Daniele management. Another constitution ”, drew attention to itself. The Post accused Omakase of censoring sushi messages and stealing money, and accused other posters on the forum of being unruly against sushi for the past few days.

“These statements are completely inaccurate and irresponsible. The allegation of money theft is absurd as no company or funds have ever been appropriated, apart from the very decentralized nature of a multisig process, “wrote Omakase in response to the allegations.

The allegations against Omakase and Sestagalli came after months of internal problems with Sushi.

Most recently, CTO Joseph Delong announced his official exit from the project, saying he was “sad that Sushi has so many conflicts both internally and externally”. Delong previously noted that there was “a lot of drama in sushi” and pointed to conflicts with a former member of the team named BoringCrypto and other core members. BoringCrypto arbitrarily owns the license for Sushi’s kashi product and recently sold it to Sestagalli’s Abracadabra.Money project.

Before Delong left, a business development manager named AG was fired for “behavior that created a toxic work environment.” And perhaps most notably, the 0xMaki co-founder stepped down in September.

Rekt has announced an investigation amid the ongoing drama into which an anonymous source claims that Team Sushi unevenly distributed tokens from MISO’s BitDAO sale. It also claimed that 0xMaki was fired and that a core member was using the sushi treasury for daily transactions.

When the problems with sushi became public, the SUSHI token went downhill. On December 6th, it hit a low of $ 4.91, a 79% decline from the March all-time high (ATH) and now appears to be recovering.

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