SushiSwap will discontinue the Kashi and MISO platforms
Early in 2023, SushiSwap intends to discontinue its Kashi lending business and MISO launchpad.
SushiSwap, a noteworthy, decentralized exchange, has revealed intentions to deprecate two of its businesses, the Kashi loan platform and the MISO token launchpad, according to Matthew Lilley, the company’s chief technical officer.
Lilley claimed a lack of resources and bad design as the key reasons for discontinuing these products. He tweeted, “We’ve decided to deprecate Kashi (Sushi Lending) and Miso (Sushi Launchpad).” Kashi, for a variety of reasons, has a lot of design problems, operated at a loss, and lacked the necessary resources.
Lilley stated that SushiSwap would discontinue the two offers in the first quarter of 2023 and move its attention to its main decentralized exchange, which has a total locked value of $390 million.
The SushiSwap team created Kashi in March 2021 as a method for DeFi members to borrow crypto assets. Sushi also created MISO, an initial for Minimal Initial SushiSwap Offering, around the same time for bootstrapping DeFi initiatives using crowdfunding. Neither of these services attracted a substantial number of users and was thus regarded as unsuccessful.
SushiSwap’s decision to discontinue its Kashi loan business and MISO launchpad is part of a bigger restructuring effort. According to the protocol’s “head chef,” Jared Grey, there are just 1.5 years of operating runway left. The SushiSwap group did not reply to a request for comment immediately.