Decentralised exchange SushiSwap has suffered a 20% price drop in its SUSHI token, following the resignation of CTO Joseph Delong, caused by alleged infighting within the team.
The hierarchy of the SushiSwap community had been marred by internal disputes that, according to Delong, made his role untenable.
The former CTO announced his decision on Twitter, expressing the positive times he had at Sushi.
In the interest of the Sushi Community I am resigning as CTO effective immediately. I very much enjoyed the things that we built together and will look back positively on this moment. pic.twitter.com/7pZsQuPgup
— Joseph Delong (@josephdelong) December 8, 2021
Delong said Sushi was “imperilled within” and expressed that without a radical transformation, the exchange will not return to the heights it once reached.
“I wish Sushi the best and am saddened that Sushi is so imperilled within and without,” he tweeted.
“The chaos that is occurring now is unlikely to result in a resolution that will leave the DAO as much more of a shadow than it once was without a radical structural transformation.”
Some of the infighting included reported allegations from some members that its key developer – 0xMaki – had been forced to leave with a screenshot that showed a poll from Delong asking whether Maki should accept an advisory role and depart the core team.
— WeWantMakiBack (@makibacknow) November 23, 2021
While Delong rejected claims that Maki was removed from his position, the former CTO found community support hard to come by that, ultimately, resulted in his decision to step down.
The chaos has, in turn, affected its token price with SUSHI down 20% in the last seven days after losing 51% of its value in the last month, according to CoinGecko.
Despite achieving a March 13 all-time high of $23.38, the exchange is currently trading just above $6.
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