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SushiSwap DeFi platform token price for the last 24 hours fell by 50% – from marks in the region of $ 4.60 to $ 2.26.
Partner Cinneamhain Ventures Adam Cochrane reportedthat the administrator of the SushiSwap platform sold half of the funds of the developer fund with assets of $ 27 million.
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Why the recent $SUSHI dump? @ChefNomi sold half of the $27M dev fund that he said he wouldn’t touch without community approval.
Whether you agree with the action or not, it was done without a community vote and without announcing it to the community. https://t.co/v9QMLhhMt6
— Adam Cochran (@AdamScochran) September 5, 2020
“Why did the SUSHI token dump occur? Chef Nomi sold half of the $ 27 million developer fund. Earlier, he said he would not touch them without community approval. It doesn’t matter if you agree with his actions or not, it was done without a vote in the community and without an announcement. “
As confirmation, Cochran attached a tweet from the SushiSwap administrator, where he said that he had indeed converted the coins to Ethereum. Also “Chef Nomi” tried to assure the community that he is not leaving the project, but, on the contrary, is committed to its further development.
In addition, Cochran led details of recent transactions SushiSwap administrator:
– withdrawal of 2 558 644 SUSHI and 20 039 ETH from the liquidity pool of the Uniswap exchange;
– conversion of 2 558 644 SUSHI to 17 971 ETH.
According to Twitter account @CryptoCobain, 80% of the SushiSwap community remains optimistic. Some, however, urge the “chef” to buy the coins back.
SushiSwap dev dumps $8m of tokens on the market.
The hopium of a -80% community is on display. pic.twitter.com/1mGfV623Ok
— KING CO฿IE (@CryptoCobain) September 5, 2020
Formerly a partner at Cinneamhain Ventures warnedthat “Chef Nomi” can dump $ 27 million in native SUSHI tokens in his wallet at any time.
At the same time, the SushiSwap administrator stated that the mentioned amount is his share, which was originally provided for:
“In theory, I can sell them all, but I don’t see anything wrong with that. Not that I’m hiding it or anything like that. I will spend it on two audits and grants. “
Recall that the other day clone tokens SushiSwap fell to zero after a short pump.
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