SushiSwap Proposal Called For A Bancor Network Merger

A new SushiSwap proposal called for a Bancor network merger with the goals to benefit the traders and liquidity providers both. In today’s crypto latest news, we are reading some more about the submitted proposal.

SushiSwap is one of the most popular decentralized exchanges as well as an automated market maker but still, it went through a fair share of the fighting in the past couple of months. The community proposal calls for a merger between Sushi and the Bancor Network. Joseph Delong as the Chief Technical Officer of SushiSwap announced his resignation and this was no coincidence and the culmination of the issues within the community. The leaked screenshot revealed a poll where Delong asked whether 0xMaki who Is the key developer of SushiSwap should leave the core team and take the advisory role. The ex technology chief refuted the claims and even said he will quit if the community failed to support the proposal.

He submitted a proposal to pay the core team members 200,000 SUSHI tokens worth a million dollars back then but it didn’t pass. There’s been a proposal posted on the SushiSwap forum with a call for a merger with Bancor Network where the main goal is for the projects to create a new network that will provide e more positive outcomes for liquidity providers and traders. The sushiSwap proposal doesn’t come with a lot of details on the technical aspects but it does provide leverage for the turmoil in the sushiswap leadership as one of the main issues.

The voting ends in a few hours and it doesn’t seem that the proposal will pass unless something dramatically changes according to a snapshot on Bancor. At the time of writing, more than 58% of the people are against it while the other 42% are supportive. Commenting on the matter was also the Head of Research at Bancor Mark Richardson, who said that the proposal in this form lacks the substance to be taken seriously but it is not really against the initiative. He noted:

“I want to wrap this up by saying that I would be so excited to merge the Bancor project with Sushi. I can see very clearly that such an event could have immense value for all involved. There seems to be a synergy of developer talent, community energy, and shared vision that would be very powerful. I don’t want my criticisms here to be misconstrued as an outwardly negative reaction. I wouldn’t bother showing up if I thought the idea was vacuous. But it is [very] incomplete.”