TechFlow news — Wan Hui, founding partner at Primitive Ventures, addressed several questions about Sushiswap yesterday on Weibo:
1. Is it safe? Likely safe. The current Sushi mining involves a very simple contract, directly staking UNISWAP v2 LP tokens, which is much simpler than native token staking contracts, reducing the likelihood of issues. Additionally, the owner key has a 48-hour time lock, meaning all changes take effect only after 48 hours. This provides a 48-hour window for LPs to withdraw if any problems arise;
2. How long can Sushi be mined? Indefinitely, with infinite supply. However, during the first two weeks there is a 10x $SUSHI reward. This reward rate can be changed through governance. At current prices, the circulating market cap would increase by around $60 million per day;
3. Which team built it? Based on available information (neither verifiable nor falsifiable, so this is logical inference), it likely has close ties to Hayes of BitMEX (CEO of BitMEX). Some non-public information won't be shared here, but publicly speaking, those who are curious can look into the background of $BASED, recently listed on Sushi.
4. Native token price: Impossible to predict. It mainly depends on how much liquidity migrates to SushiSwap and how well Sushiswap's product performs—still too early to tell.
