In a somewhat completely unexpected turn of events, the former lead developer behind the Sushiswap protocol has returned $14 million worth of ETH to SUSHI’s treasury.
This comes six days after the anonymous Chef Nomi depleted the development fund and sold it for ETH, basing his merits on the fact that he deserved that money for his hard work.
Chef Nomi Returns $14M Worth of ETH
To reiterate something we’ve touched upon countless of times – there’s never a boring day in the cryptocurrency field.
Just six days ago, the anonymous then-lead developer of the Uniswap fork, SushiSwap, drained out the development fund and sold SUSHI tokens worth millions of ETH.
The community condemned his actions as an ‘exit scam.’ He was quick to react and transferred the admin control to FTX CEO, who then migrated it to a community-owned multi-signature wallet.
In any case, what’s done is done and many thought that Chef Nomi would be living the good life going forward.
Today, however, he came back, letting everyone know that he has returned $14 million worth of ETH to SUSHI’s treasury. Instead, he said that the community should decide how much he gets rewarded for being the original creator of Sushiswap.
“I would like to apologize to everyone who I have caused troubles to. I was emotional, I was greedy, I was afraid. I mad bad controversial decisions under pressure. And it hurt everyone. I failed your expectation and I am sorry.” – The former lead developer said.
SushiSwap Going Forward
Ever since Chef Nomi transferred the control over to Sam Bankman-Fried, the protocol carried out the planned liquidity migration away from Uniswap.
Commenting on the matter, Chef Nomi said:
SUSHI migration went successfully and the journey of SushiSwap began. I was fortunate to have a chance to help in the background and it was a very enjoyable moment in my life. Congrats for the successful migration.
CryptoPotato reported earlier in the week that SushiSwap actually had more liquidity locked in it than Uniswap.
In any case, it’s interesting to see how the project will develop from here and whether or not this act will be considered a further vote of confidence.