SushiSwap Replaces DAO with SushiLab to Drive Multi-Chain DEX Growth

IconCryptoNewsTerminal Staff11 Jun, 2024

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SushiSwap Replaces DAO with SushiLab to Drive Multi-Chain DEX Growth

SushiSwap, the decentralized exchange (DEX), has launched SushiLab, a new platform that will replace its existing decentralized autonomous organization (DAO). SushiLab will take over the development and management of SushiSwap's multi-token offerings and cross-chain DEX capabilities. The move follows a governance proposal that transferred SushiDAO's treasury and decision-making power to SushiLab, resulting in over $40 million in assets now under SushiLab's control. This change aims to streamline decision-making and enhance the protocol's efficiency. SushiLab will focus on building a seamless and secure cross-chain DEX experience, enabling users to trade assets across different blockchains. The platform will also explore the development of innovative multi-token offerings to expand SushiSwap's ecosystem. The launch of SushiLab marks a significant step in SushiSwap's evolution, empowering the protocol to drive further innovation in the DeFi space and cater to the growing demand for cross-chain interoperability.

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