SushiSwap, the "vampire mining" protocol, sucked more than $800 million from rival Uniswap in the latest DeFi mind-bender. PLUS: BitMEX futures distortions.
SushiSwap experienced a tumultuous weekend after its founder sold $13 million' worth of his stake in the project before turning the reigns over to investor and FTX CEO Sam Bankman-Fried.
Uniswap is now at the top of DeFi Pulse with $1.65 billion in total value locked. Sources say the surge is driven by a new Uniswap competitor, SushiSwap.