SushiSwap to deprecate Kashi and MISO platforms

Quick Take

  • SushiSwap has announced plans to deprecate efforts on Kashi lending service and MISO launchpad in early 2023.
  • The decentralized exchange’s CTO cited poor design and a lack of resources as reasons driving the decision.

SushiSwap, a notable decentralized exchange, has announced plans to deprecate two of its offerings — the Kashi lending platform and MISO token launchpad — its chief technology officer, Matthew Lilley, noted.

Lilley cited poor design and a lack of resources as the primary reasons for retiring these offerings. "We made the decision to deprecate Kashi (Sushi Lending) and Miso (Sushi Launchpad)," he tweeted. "Kashi for a number of reasons, had a number of design flaws, ran at a loss, and had a lack of resources to dedicate to it."

Lilley added that SushiSwap will phase out contributing to the two offerings in the first quarter of 2023 and shift its focus entirely on its core decentralized exchange — which has $390 million in total value locked. Still, the two products will continue to exist due to their decentralized nature.

"Sushi wont be building or investing in new features for the current iterations of those two products. They’ll still work though," a spokesperson from SushiSwap said.

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In March 2021, the SushiSwap team introduced Kashi as a way for users to borrow crypto assets within the DeFi space. MISO, short for Minimal Initial SushiSwap Offering, was also introduced by Sushi around the same time for bootstrapping DeFi projects with crowdfunding. Neither of these services had any significant uptake from users and has thus been deemed unsuccessful. 

The decision to stop allocating resources for Kashi lending service and MISO launchpad comes as part of a larger effort to restructure SushiSwap. The protocol has only 1.5 years of operational runway available, according to its "head chef," Jared Grey.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]


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