Despite the successful implementation of a proposal to redesign SUSHI's tokenomics, the price of SUSHI, the native token of SushiSwap, has dropped by 45% from its peak in February 2023. The proposal, which was made by Chief Chef Jeremy Grey in December 2022 and agreed upon by the community early this year, aims to make SUSHI more deflationary and promote decentralization. The latest data shows that SUSHI's annual inflation stands at 1.23%, lower than Bitcoin and Cardano. However, SUSHI's performance in the first half of 2023 has been poor, possibly due to the effects of the crypto winter, a hack, and regulatory uncertainty.
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SushiSwap Token Redesign Fails to Prevent 45% Price Drop Since February 2023 Highs
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