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'I F**ked Up': SushiSwap Creator Chef Nomi Returns $14M Dev Fund

SushiSwap creator "Chef Nomi" has returned all $14 million in ether, apologizing to the DeFi project's community for suddenly liquidating his holdings.

By Daniel Palmer, Nikhilesh De
AccessTimeIconSep 11, 2020 at 4:30 p.m. UTC
Updated Sep 14, 2021 at 9:55 a.m. UTC
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SushiSwap creator "Chef Nomi" has returned all $14 million in ether (ETH) that he cashed out from the automated market maker last week, apologizing to the community for suddenly liquidating his SUSHI holdings.

  • The pseudonymous individual transferred the 38,000 ETH back to the original developer fund wallet soon before 16:00 UTC today, according to Etherscan.
  • Nomi announced the decision in a tweet, saying whatever reward he deserves for creating the project would be decided by the community:
  • The SushiSwap creator suddenly sold the tokens last weekend, prompting a 73% crash in the price of the SUSHI token and creating a massive backlash from the project's supporters and accusations of an exit scam.
  • This ultimately led to Nomi transferring ownership of the project to FTX CEO Sam Bankman-Fried.
  • SushiSwap co-founder 0xMaki said he was disappointed in the liquidation, according to an interview with CoinDesk China.
  • Following the news that the $14 million in ether had been returned, the price of SUSHI soared from $2.26 to $2.70, a rise of 16%.
  • SushiSwap is a massively popular fork of DeFi project Uniswap that is still less than three weeks old.
  • In another tweet Friday, Nomi said:

Read more: Fishy Business: What Happened to $1.2B DeFi Protocol SushiSwap Over the Weekend

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