Sushi has announced in an X post that all SUSHI tokens are now in circulation, as the total supply of 250 million tokens has been minted.
Following our Head Chef @jaredgrey 's update, we're thrilled to share:
🧑🌾 Kanpai 2.0 ends, back to xSushi model
🍣 Sushi Bar reopens by Jan 23
🔥 All 250M $Sushi minted, fully circulating
💡 Tokenomics on hold based on community feedback
🚀 Next: DEX innovations, trader/LP… pic.twitter.com/tnGFU5OsUT— Sushi.com (@SushiSwap) November 24, 2023
As all the tokens have been minted, Sushi will no longer release new tokens, and there will be no further unlocking of tokens, leading to significant updates in the current reward plans.
The V2 reward plan will terminate today, while the V3 reward plan is expected to end around December 8, 2023.
🚨 Rewards Program Update 🚨
🔥 All 250M $SUSHI minted, fully circulating ⏩
🔚 V2 Rewards end today
🔜 V3 Rewards concluding around Dec 8, 23
🔄 Merkl : 14 days left
🖥️ UI update in progress for clarity
🍣 Sushi Bar update coming soon🔗 Details: https://t.co/NrvvYkWxU5 https://t.co/9ov2gKoTjv pic.twitter.com/U5qToMJqWd
— Sushi.com (@SushiSwap) November 28, 2023
Sushi stated that its future focus will shift towards strengthening its token economic model, moving away from continuous token unlocking and token reward distribution. Currently, SushiSwap has updated its token economic model, but it will not be deployed.
Read Also: SushiSwap Surges 80%, This Cohort Joins The Party
SushiSwap has also announced that Kanpai 2.0 will end on January 23, and the platform will return to the xSushi model. The Sushi Bar will reopen, allowing xSushi holders to earn a portion of the Sushi DEX trading fees.
By staking Sushi in the Sushi Bar, Sushi holders will receive xSushi and be entitled to collect 0.05% from the standard 0.3% transaction fee.
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