In what turned out to be a turn of events, Sushiswap took a very big stride in the right direction. This stride might save it from its past pitfalls and bring SUSHI to a new price ATH. The founder of Sushiswap had earlier withdrawn $15 million worth of tokens from the dev share. This created an uproar amidst the community which led to a serious dump in the price of SUSHI. Nomi Chef, the anonymous founder of Sushi claimed that the withdrawn funds are his right and have been stated to be withdrawable at any time. He claimed he did no scam.

After the intervention by Sam Bankman-Fried (@SBF_Alameda), the Founder of FTX the matter seems to have taken a U-turn. Nomi Chef released the controls of the project to Sam who in turn promised to release the keys to the community voted governance after the migration of the liquidity from Uniswap. Uniswap took a bite after the migration as the Total Locked Value (TVL) from over $1.4 Billion to around $500 Million. The migration was completed and the keys were handed over to the community voted administrators for Multi-sig governance and 2million SUSHI were distributed to the holders who didn’t sell their tokens despite the events as promised by Sam.

0xMaki was proposed and voted to be the new head/public figure of Sushi because of his contributions:

“0xMaki has been an essential part of Sushi since the beginning. Having him full time will be incredibly valuable for the project’s success long term. 0xMaki’s official start date would be Monday, September 14, 2020.”

His salary would be $10,000 for three years or until it is decided that his services are no longer needed by the community.

Surprisingly, Nomi Chef returned $14 Million worth of Ethereum that he took and apologized for the errors he committed:

“I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of SushiSwap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish.”

It was later decided by the community to use the returned funds to buy back some SUSHI. The buyback is scheduled to commence on Tuesday 15th September according to the official Sushiswap twitter account:

“… That means that the $14m SUSHI buyback will happen tomorrow!  1am-2am UTC, TWAP, on Sushiswap SUSHI/ETH pool.”

Another proposal has been made to determine the fate of Nomi Chef the founder of Sushiswap even though he made mistake by withdrawing the dev share:

“Yes, he took SUSHI tokens from the devshare, dumped it for ETH, and made ridiculous excuses of why it was for the good of the community, despite saying he would not dump because he was a good guy… But more importantly, he ended up doing the right thing. He gave the money back to the community. Now, the onus is on the community to complete the virtuous cycle of redemption. We have a choice to either be a vengeful, vindictive, unforgiving community, or one that believes that people make mistakes and we can bring the best out of people”

The proposal was to determine how much would the community want to pay Nomi as one-time payment/compensation for the founder.

As the events unravel, there might still be hope to restore SUSHI to its former glory.