This article comes fromDecrypt, original author: Stephen Graves

Odaily Translator | Nian Yin Si Tang

Odaily Translator | Nian Yin Si Tang

Ethereum-based DeFi protocol SushiSwap has decided to shut down its lending protocol Kashi and token Launchpad platform MISO.

Founded in 2020, SushiSwap allows customers to exchange, lend and borrow cryptocurrencies using their own external wallets (like MetaMask) — rather than centralized exchanges like Coinbase.

SushiSwap CTO Matthew Lilley explained the move on Twitter, saying that Kashi “has many design flaws, operates at a loss, and lacks the resources dedicated to it.”

However, he said MISO was simply "lack of resources".

Lilley said he believes achieving this will require a focus on trading, which he sees as the company's "undeniably" profitable business.

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The decision comes as the platform has faced significant financial uncertainty in recent months. in December of last yearrenewrenew

SushiSwap's new CEO Jared Gray tweetedexpressexpress

, in the past 12 months, SushiSwap has spent $30 million in its emission-based reward strategy to guide liquidity and incentivize LPs, and is currently pursuing multiple programs aimed at improving Sushi and business in the first quarter of 2023 The long-term problem of broken patterns.

Gray said the company has been pursuing a strategy that includes renegotiating infrastructure contracts, cutting "underperforming or redundant operations" and imposing a budget freeze on spending such as "non-critical personnel and infrastructure" to keep annual spending cut to $5 million.In addition, Graydisclosure

A snapshot of the budget for 2023, over $5.2 million will be spent next year to keep its DEX running. More than 82% of these funds will be used to pay 15 salaries, including $500,000 in USDC will be paid to himself. The average team member earns about $286,500.

The remaining DAO budget, approximately $919,000, will be used for SushiSwap’s operational management expenses, such as legal fees, subscription fees, freelance contributor compensation, and social media management costs. An undisclosed freelancer has a budget of $12,000 per month, just $500 less than the average monthly retainer for Sushi's legal team.Then in late December, Grayannounced

A new token economics proposal aimed at increasing liquidity, creating more utility for its native token, Sushi, and maximizing value for stakeholders. The formal proposal stated: “Like the xSushi model that was originally hoped to be realized, the main goal of the new economics is to promote decentralized ownership and reward liquidity growth through a holistic and sustainable reward mechanism that scales with volume and fees. Scaling. Our goal is to incentivize long-term participation in the Sushi ecosystem while reducing the number of withdrawal participants.”