SushiSwap is now Sushi Labs, an autonomous company that replaces the ecosystem’s decentralized autonomous organization.
After months of heated debate, decentralized exchange SushiSwap has introduced a fresh brand and business model to its ecosystem. Under the name of Sushi Labs, the new era replaces the decentralized autonomous organization (DAO) with a “council structure.”
On June 11, the protocol introduced Sushi Labs — an autonomous administrative, technical and operational company that will manage the Sushi ecosystem. First proposed in March, the revamp sought to respond “to market demands and user requirements,” including the protocol’s slower response to market changes due to “cumbersome governance.”
The new Labs model will operate under a council structure similar to that of the derivatives protocol Synthetix, which is formed by four councils: the Sushi High Kitchen, the Treasury Council, the Grants Council, and the Ambassador Council. High Kitchen — comprising six to eight members — is the central governing body for the protocol, which will oversee a multisig setup for transactions.
