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the dominant narrative of $sushi was that it was

@UniswapProtocol

, but instead of VCs it was owned by the "community" via a "fair launch" where farmers could earn tokens and rewards would be shared with the token holders it turns out it's not so simple

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uniswap: - 7 employees - ~13m raised - 1.83-billion Liquidity - Tier 1 VCs sushiswap: - Community/DAO-funded devs - 10% devs share - 1.42-billion (of Uniswap's current) Liquidity staked - 16.7% of trading fees distributed to SUSHI token holders twitter.com/teo_leibowitz/…

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yield farming is a zero-sum casino the early farmers take on barely any risk, only opportunity cost of capital and some risk of impermanent loss if farming with LP shares they are the house the market buyers on the other hand, are the players in a "greater fool" ponzi game

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funny, none of these people are actually the "community" it's like throwing a house party with free booze and assuming everyone who shows up is your best friend they are not your friends are the ones helping you clean up when everyone else leaves

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sure, parties are good for making friends and maybe there were seeds of a real sushi community planted this week but the proof will be if they stick around, pick up the pieces, and keep the project going it'll be an uphill battle from here, though given recent events

the founder

, after posturing as an altruist who puts community first, claiming not to be a token-selling opportunist, cashed out $10M+ $sushi today this move has massively damaged trust in the project possibly irreversibly so

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Chef Nomi #SushiSwap

@NomiChef

Aug 30, 2020

Replying to @haydenzadams

You got grants. You paid yourself NYC salary. You have everything. So what do you complain? I don't sell any token. I pay for gas deployment myself. I distribute everything except funds for development. Actually, I feel very offended you say I'm an opportunist.

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