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SBF
@SBF_FTX
Replying to
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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.
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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
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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SBF
@SBF_FTX
Replying to
@SBF_FTX
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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Goomba
@im_goomba
Replying to
@SBF_FTX
@SBF_Alameda
and
@ProjectSerum
Nice thread Sam, hopefully the project goes on An SRM version with low cost and fast transactions would be great. I tested SRM yesterday and made a tutorial for those interested
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Goomba
@im_goomba
I've made my first trade on @ProjectSerum and have created an easy step by step tutorial for those of you who want to try it out youtu.be/yIn-Vwjk4Z8
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