SushiSwap

2020-08-01

SushiSwap launched by anonymous developer 'Chef Nomi' as a fork of Uniswap, introducing SUSHI governance token and yield farming incentives.

2020-09-05

Chef Nomi withdraws approximately $13–14 million from the developer fund wallet, converting SUSHI and LP tokens to ETH; SUSHI price collapses ~90%. Community labels it a rug pull or exit scam.

2020-09-06

Chef Nomi transfers multi-sig control of SushiSwap to FTX CEO Sam Bankman-Fried to restore community confidence.

2020-09-11

Chef Nomi returns approximately 38,000 ETH ($14 million) to the developer fund, publicly apologizes, and withdraws from governance.

2020-09-11

Sam Bankman-Fried oversees SushiSwap's migration from Uniswap and transfers control to a broad multi-sig arrangement.

2021-03-01

SUSHI reaches all-time high of approximately $23.38. SushiSwap TVL exceeds $5 billion.

2022-01-01

SushiSwap TVL peaks at over $8 billion before declining sharply during the broader crypto market downturn.

2022-10-11

Jared Grey appointed Head Chef. Within days, Twitter user YannickCrypto publishes allegations of past scams and other misconduct; Grey denies all charges.

2022-12-01

Grey discloses SushiSwap treasury has less than 18 months of runway remaining, with alleged $30 million loss attributed to prior administration mismanagement.

2023-03-21

SEC serves SushiSwap and Jared Grey with a subpoena. SushiSwap proposes $3 million legal defense fund from the DAO treasury.

2023-04-09

RouterProcessor2 smart contract exploit drains approximately $3.3 million across 14 chains. Largest victim is wallet 0xSifu (Michael Patryn, QuadrigaCX co-founder). White hats recover over 1,000 ETH.

2023-04-12

SushiSwap announces reimbursement plan via Merkle Claim contract for exploit victims.

2024-04-01

SushiSwap proposes transitioning to 'Labs model,' shifting approximately $42.5 million in treasury assets from DAO control to new Sushi Labs entity.

2024-04-10

Sushi Labs treasury proposal passes with approximately 62% of the vote amid allegations by community members that the team used protocol wallets and borrowed funds to boost voting power.

2024-06-11

Sushi Labs formally established as the autonomous administrative entity governing SushiSwap operations.

2025-12-01

Jared Grey steps down as Head Chef and transitions to advisory role. Synthesis invests $3.3 million; Alex McCurry becomes Managing Director.

2025-12-14

Governance vote increases SUSHI annual emission rate from 1.5% to up to 5%; on-chain analysis shows a single wallet controlled approximately 99.9% of voting power.

2026-03-12

A trader routes $50.4 million USDT through CoW Protocol into a SushiSwap pool with only $73,000 liquidity, losing approximately $50 million to slippage and MEV exploitation.