Conversation

1) A way forward for Sushi, and a way further back.

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2) Again, I am not sushi and am not involved in it. I do own some SUSHI and SRM. Not investment advice.

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3) I'd like to lay out the ways that

was a piece of shit. a) they did huge damage to the sushi and defi communities b) they could have held out for the long run and been a core leader of a prominent project. They could have gotten more than 5m SUSHI from that.

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4) This wasn't even _selfishly_ the right choice for them. They were the good guy and they became the bad guy. The amount you lose for that is huge.

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5) And they did damage to their core cause: to show that if a project is so forkable -- if there isn't enough community and new development behind it -- its reign is thinner than it seems. Instead they just reflected that upon themselves.

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6) So what now? Well, first it's imperative that Nomi release all keys and continue with the migration. As long as Nomi has control of Sushi, it does not have a future.

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7) But beyond that: I'd like to talk about why I got involved in farming SUSHI in the first place. First, it gave great yield. Second, it showed the promise of DeFi. It was building, quickly; and unifying a community; and dynamic and active.

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8) There is so much that can be done with an AMM, and so little of it was. And I was really excited for a community-owned AMM to build at prosper and show the same explosion of growth that the rest of DeFi was seeing. And third, it was an opportunity for Serum.

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9) Serum offers something really cool to SUSHI -- the chance to apply the composability that DeFi pioneered and displayed to a whole new set of projects. The idea of having an AMM, orderbook, borrow/lending book, and more all compose on each other is super exciting.

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10) I still own a lot of SUSHI, because I still believe in its promise; in fact we're a significant fraction of the current SUSHI/ETH pool.

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11) I've also recently been contacted by the people behind Sushi. _People_. And I didn't realize that Nomi was the one with all the keys. That was a fuckup on their part, and a fuckup on my part not to clarify.

5:01 AM · Sep 6, 2020Twitter Web App

Replying to

12) I can't undo what Nomi did, no one can but him. But I can offer a way forward for Sushi. First, Nomi has to give up all control, keys, etc. for Sushi and has to do so now. If not, his project is dead.

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13) Second, if he does so, the offer to build another copy of it on Serum -- while keeping the current version on Ethereum--still stands. And in fact there's more. Nomi sold 5mm SUSHI from the dev pool. If the above happen, I will personally return 5mm SUSHI to the community.

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14) They will be airdropped on all SUSHI stakers after the migration and Serum buildout. Otherwise, if the above don't happen--so be it. There will be an AMM on Serum either way, and it will be composed with orderbooks and borrow/lending, and it will be fucking awesome.

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15)

is charging forward and building powerful products, one way or another. serum-academy.com/en/dex-list/

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16) TL;DR: a) Nomi sucks and hurt the community b) Sushi shows promise as a dynamic AMM built by the community c) If Nomi doesn't step down, it's over for Sushi. d) If Sushi adds a division on Serum, we'll give 5mm SUSHI to farmers e) Either way, AMMs coming to Serum

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