SushiSwap founder converts portion of developer fund to $13M in ETH

Chef Nomi, the founder and lead developer of SushiSwap, has converted a portion of SUSHI tokens allocated for the development of the SushiSwap ecosystem for roughly 37,400 ETH, an amount worth approximately $13 million at the time of this writing. This conversion was done in a series of two transactions.

According to Chef Nomi, the tokens were converted to ETH so that he could “stop caring about price” and “focus on the technicality of the migration.” SushiSwap plans on migrating Uniswap LP tokens deposited on its service to its soon-to-be-launched trading platform on Sunday.

“People asked if I exited scam. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration,” Nomi explained in a Twitter thread.

SushiSwap was launched with much fanfare, promoting itself as an “evolution” of decentralized

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