SushiSwap will propose changes to tokenomics to encourage Uniswap v3 adoption.
Changes to the protocol’s “Chief” agreements aim to make the protocol more decentralized and secure.
SushiSwap Arrives With Tokenomics Change Proposal for Uniswap v3
SushiSwap, a decentralized exchange (DEX), is close to adopting a new tokenomics model that will drive adoption of Uniswap v3.
Head Chef Jared Gray said the model will likely go to a community-wide vote in late May. If approved, the changes will include strengthening the protocol’s “Chief” contracts to improve the code that supports its operations following a multimillion-dollar hack earlier this month.
Head chef Jared Gray used the following statements in his statements:
“V3 will help us make tokenomics more efficient. With Uniswap v3’s improved capital efficiency, improved and sustainable tokenomics features, we will scale growth across the 30+ supported networks.”
Gray said in his statement that the changes will improve the security of the protocol. The exchange is trying to strengthen security after the hack that led to the loss of $3.3 million from the platform’s wallets earlier this month. The hack was carried out by exploiting a vulnerability in Route Processor 2, a smart contract component of SushiSwap that aims to process transactions more efficiently while increasing its liquidity provisions.
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