Sushiswap's anonymous leader will step down soon
The anonymous leader behind the decentralized crypto exchange Sushiswap, will step down from his role soon. This is according to reports from sources with the knowledge on the matter. The leader, Maki, is expected to leave his role after spearheading Sushiswap's recent growth.
Sushiswap is one of the leading decentralised exchanges (DEX) in the world after it was launched last year. It has built on the successes of other leading DEXes like Uniswap and Pancakeswap and has become one of the leading platforms for crypto investors and traders to swap tokens.
It is still unknown why Maki is leaving his role as the head of the Sushiswap project. However, Maki's address has been removed from the operations multisig, but it is still active on the treasury multisig.
Decentralized exchanges like Sushiswap have become popular within the cryptocurrency space. Unlike the regular centralized exchanges, decentralized exchanges provide a way for crypto traders to swap tokens peer-to-peer. They also have less regulatory oversight and requirements compared to their centralized counterparts. With decentralized exchanges, users are not required to provide personal details such as email address, phone number, personal address and others. They are also not required to verify their accounts before they can use the platforms to trade cryptocurrencies.
Sushiswap experienced massive growth earlier this year. Its trading volume grew massively from January to May, when the broader cryptocurrency market was rallying. However, the volume has since cooled down as the cryptocurrency market continues to be in a correction phase. Last month, Sushiswap processed over $10 billion in transaction volume.
The exchange's native token, the SUSHI, is trading above $14, and its price is up by more than 850% over the past year.