SushiSwap Axes Lending Protocol and Token Launchpad
Ethereum-based decentralized finance (DeFi) protocol SushiSwap has made the decision to shut down Kashi, its lending protocol, and Miso, its token launchpad. Founded in 2020, SushiSwap allows customers to swap, lend, and borrow cryptocurrencies using their own external wallets.
The decision comes as the platform has faced significant financial uncertainty in recent months. In a December update the firm announced that it only had 1.5 years of operating costs, saying that the “situation requires immediate action to ensure sufficient resources for uninterrupted operation”. SushiSwap CEO Jared Grey said that the company has been pursuing a strategy.
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