Popular decentralized exchange platform, SushiSwap has unveiled Studios, a decentralized brand licensing and incubator solution. The protocol confirmed the launch in its Wednesday Twitter post. According to the announcement, the solution will pave the way for external product teams to further access and harness the Sushi brand.
More so, it will enable the development of protocols without needing the Sushi DAO Treasury funding. It is noteworthy that the Sushi studios initiative was suggested by the CEO of the protocol, Jared Grey. Notably, Grey believes the solution that can help foster the development of horizontal product of the platform, thereby expanding its ecosystem.
Through this solution, SushiSwap aims to build an inclusive product ecosystem that gives value to every Sushi stakeholder. In addition, the initiative will foster independent token economies, thereby facilitating bootstrapping of liquidity. Further, it will enable efficiency in fundraising and distribution of new product launches.
Worthy of note that SushiSwap also plans to avail its community members with crowdfunding, airdrops and exclusive token utility with the studios solution. Notably, it has designed the brand licensing and incubator framework to aid the distribution of the Sushi brand. This thus allows it to grow the value of the protocol and enhance a multi-token ecosystem.
Remarkably, SushiSwap wants to continue to expand the base of its ecosystem. Recently, it issued grants from the DAO Treasury to empower developers and their innovative products. Many developers took advantage of this initiative to launch numerous products, including Kashi, a lending platform and lauchpad MISO. Now, according to Grey, the decentralized exchange protocol wants to empower its ecosystem with new and innovative products outside the scope of the Treasury.
Controversies trailing the appointment of Grey as SushiSwap CEO
Recall that Grey became appointed CEO of SushiSwap last October. Interestingly, a lot of controversies trailed his appointment over his alleged involvement in fraudulent activities. Grey, who was the former boss of Bitifneon was reported to have allegedly siphoned funds raised for Bitifuneon exchange in 2019.
The SushiSwap CEO however refuted the allegation that he stole the funds. He alleged that his business partner stole the said funds. Grey said upon realizing the illicit act, he sacked the partner with immediate effect. He, however, promised to work with other investors to come up with a way of refunding the victims.
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