Asset management firm GoldenTree invests $5.2 million in Sushiswap

Asset management firm GoldenTree invests $5.2 million in Sushiswap

By Hassan Maishera - min read

Asset management giant GoldenTree has taken another leap in the crypto space after investing about $5.2 million in the SushiSwap governance token.

Asset management firm GoldenTree announced via the Sushiswap forum on Wednesday that it has invested $5.2 million in Sushiswap.

GoldenTree, which has around $47 billion in assets under management, revealed that it had been following Sushi for a while. The firm said the launch of its crypto-focused GoldenChain Asset Management arm made it excited to invest in Sushiswap. GoldenTree said;

“We wanted to take a moment to introduce ourselves to the community. We’ve been following Sushi for a while (some of us for several years now), and with the launch of GoldenChain, we are psyched to be more active in all things Sushi. We’re excited about the Sushi 2.0 roadmap, and think upcoming cross-chain integrations for swapping and lending (Sarang is incredibly thoughtful on this front), and updated tokenomics (we’ve been throwing them some ideas around tokenomics) have the potential to be transformative for Sushi.”

SushiSwap, similar to Uniswap, is a decentralised exchange (DEX) that allows people to easily swap one token for another.

Users can buy Sushiswap tokens on a wide range of centralised and decentralised cryptocurrency exchanges.

The GoldenTree team added that it believes Sushi has incredible potential. They added that;

“To GoldenTree, Sushi represents the best of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating, without artificial barriers to competition. We love the approach to new, composable products such as Trident and Bento that give developers frameworks on which to layer on complexity has been quite novel. We don’t think the full power of these products has been unlocked yet or appreciated by many devs.”

The Sushiswap vs. Uniswap comparison continues to be present in the crypto space. The Sushiswap decentralised exchange was created as a copy of Uniswap, with added liquidity mining and governance features.

The investment comes a few days after Sushi community members elected Jared Grey as CEO. GoldenTree said the community has been through some tough challenges, and it has been amazed at the resilience of both the core team and the community in the face of these speed bumps.