SushiSwap to Propose Changes to its "Chef" Contracts and Tokenomics

Decentralized exchange SushiSwap is considering a new tokenomics model that could lead to its adoption of Uniswap v3. According to Head Chef Jared Grey, the proposal will be put to a community-wide vote in late May.

The changes will involve revamping the protocol's "Chef" contracts to enhance the code that underpins its operations, following a recent hack that saw hackers drain $3.3 million from the platform's wallets. If approved, the new model will improve capital efficiency and sustainable tokenomics while also increasing decentralization and improving security.

SushiSwap is also planning to roll out a series of changes to the protocol's interface to facilitate cross-chain swapping.