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30 September 2020

Sushiswap Creator Returns $14 Million After Community Cries Exit Scam | Bitcoin News

Sushiswap Creator Returns $14 Million After Community Cries Exit Scam | Bitcoin News

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The anonymous creator also apologizes to the community, including to Binance which came under fire for listing the sushi token.

The creator of Sushiswap, the anonymous Chef Nomi, has returned $14 million worth of ETH to the project’s developer fund.

The Etherscan transaction posted by Chef Nomi shows that 38,000 ETH have been transferred.

In a series of tweets on Friday, Chef Nomi explained that he “will continue to participate in the discussion and technical implementation of Sushiswap in the background.” However, he will neither have any control nor be part of the governance and will not take the spotlight.

“I am sorry that I may have caused you trouble,” Chef Nomi wrote?

Binance and its CEO have been heavily criticized for listing the sushi token within days of its launch even though its founder is anonymous.

Cochran also proposed to formally hire Sushiswap’s general manager and founder known as “0xmaki” to lead the project, noting that “Currently Sushiswap has no formal full-time team.” The proposal outlines that 0xmaki will be given a “one-time founders grant” of “500k SUSHI upfront, and 500k locked over a one-year period as a founders grant.” 0xmaki will also receive “A payment of 500k Sushi vested over two-years for continued work on Sushi.” At the current price of $2.67 per SUSHI, the upfront payment is more than $1.3 million, which many people on Twitter say is too much.

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