Jared Gray, a blockchain consultant and former CEO of EONS, has been appointed as the new head sushi chef following an on-chain vote.
gray is 83% Second place Andy Forman received just 12.5% of the vote.
Gray has consulted for some of the largest US natural mineral miners and aims to use this expertise to revitalize the SushiSwap ecosystem.
Unlike other candidates, Gray rated asset-backed tokens highly. During his open mic session during the campaign, Gray said asset-backed tokens are “one of the biggest untapped sources of liquidity yet…he will be the next move on liquidity.” I was.
Gray commented that the regulatory roadmap for asset-backed tokens is not yet fully understood.
“Sushi has a very strong brand. They have a strong belief in the decentralized ethos of cryptocurrencies … controlling financial autonomy and our own destiny … resilience to censorship. Resistance…I think sushi has a strong foothold in that ethos…”
Gray further commented on the “rigorous approach to securities” within the US regulatory ecosystem. As the structure of asset-backed tokens becomes clearer, Sushi should be positioned to “gain liquidity and market share” when it becomes available.
Gray believes that being able to offer such a product will help Sushi stand out from the rest of the DeFi ecosystem. SUSHI token has fallen 70% against Bitcoin over the year, while Uniswap is only 10% and Aave is 31% behind him. As a result, a new avenue for the SushiSwap project is needed to regain market share.
according to Defilama, Total Value Locked to SushiSwap (TVL) decreased by 47% in September. Additionally, SushiSwap has decreased by 67% to 387,000 ETH since January 2022, when the TVL was 1 million ETH.
After taking office, Gray took to Twitter to thank the community for their support, praising the “lean and tenacious” sushi team, and showing that his role is to “help them succeed.”
I am honored to accept the role of Head Chef at @sushi swapThe trust the community and team have placed in me to shape the next phase of the Sushi protocol has caused me to pause and reflect on what Sushi stands for and who it is a community project for. can. /1
— Jared Gray (@jaredgrey) October 3, 2022
The new head chef said the DeFi industry is “in flux with increased scrutiny from regulators, bearish economic sentiment, and a strange post-COVID aura.” Gray believes he can leverage his “20 years of engineering and consulting experience” to overcome these hurdles and is looking forward to the future of Defi, saying, “Sushi is out there – bigger. & best ever.”
According to on-chain polls, Gray has the majority support in the SushiSwap ecosystem, which could be a bullish signal for Sushi looking to overhaul its offering under Gray’s leadership. However, after his announcement as head chef, the token price in dollars remained essentially flat, rising 4% on the day, while the SUSHI-BTC chart rose just 2.4% at press time.
