DeFi Exchange Sushi lays 2023 roadmap, to focus on DEX

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Key Takeaways

  • Sushi plans to release DEX aggregator, a decentralized incubator, in 2023
  • Sushi plans to launch its NFT marketplace, Shoyu, in the first quarter of 2023
  • Sushi’s major aim for 2023 is to ship a new AMM with concentrated liquidity to compete with Uniswap and Curve.

Decentralized Finance(DeFi) exchange Sushi has new plans set out for 2023. The Protocol stated that it would focus more on the decentralized exchange (DEX) aggregator and user experience while adding that it will release its DEX aggregator in the first quarter along with a “decentralized incubator” in 2023.

As per the official statement, Sushi Studios- is the decentralized incubator where Sushi will help launch self-funded projects “to support ecosystem growth without burdening the DAO treasury.”

“Ultimately, we will provide deep liquidity, optimal pricing, sustainable tokenomics, & an easy-to-use platform, placing you first in everything we build,” CEO Jared Grey’s blog post detailing Sushi’s 2023 roadmap reads.

The latest development comes days after Sushi decided to abandon its Kashi lending and MISO launchpad platforms due to a lack of resources. Sushi’s major aim for 2023 is to ship a new AMM with concentrated liquidity to compete with Uniswap and Curve.

Now the Protocol’s attention to dedicated mostly to developing their most profitable product, the DEX. “Our goal is to become a market-leading DEX by improving our product stack & delivering feature parity to provide a firm foundation enabling innovation, like biased LP routes via our aggregation router & concentrated liquidity coming in Q1,” the blog post reads.

Apart from DEX, Sushi also plans to launch its hyped nonfungible token (NFT) marketplace, Shoyu, in the first quarter of 2023. The DeFi platform further is also planning to build a governance dashboard showcasing Sushi’s budget, crypto wallets for each project, and Treasury expenditure audit results.

The Protocol has not had a very successful 2022. Last month, Sushi CEO Jared Grey revealed that SushiSwap’s treasury had less than 1.5 years of runway left. In mid-December, the CEO revealed that DEX lost $30 million over the prior 12 months on incentives for liquidity providers (LPs).

Since December, Sushi developers have been proposing and making changes to the Protocol to ensure its long-term viability. Sushi token, hard hit by crypto winter, also lost 79% of their value over the past year. SushiSwap is now currently spiking slowly and has risen about 36% in 2023.

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Saniya Raahath
Saniya Raahath

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