Sushi began by paying liquidity to leave Uniswap, survived its anonymous founderâs key crisis and grew into a web of routers, pools and chains. Voting requires eligible SUSHIPOWAH at the start of each vote; each product still has the permissions and failure modes of its own contracts.
Sushi launched in August 2020 from Uniswap V2 code and paid SUSHI to liquidity providers willing to deposit their positions for migration.
The campaign moved liquidity into SushiSwap pools on 2020-09-09, turning an incentive fork into a functioning exchange.
Sushi is now a family of contracts rather than a chain: V2 and V3 pools, an aggregator, SushiXSwap routes and the SushiBar do different jobs.
A non-custodial interface still asks users to approve routers and depends on pool, bridge and route contracts; control of a wallet does not remove those permissions.
SUSHI at 0x6B3595068778DD592e39A122f4f5a5cF09C90fE2 is an 18-decimal Ethereum token used for incentives and governance.
The governance document measures voting power in SUSHIPOWAH: each SUSHI represented in a SUSHIâETH liquidity-pool position counts as 2, and each SUSHI held through xSUSHI counts as 1. A voter must already have eligible power when voting starts; acquiring it later does not qualify for an ongoing vote. The page refers to three options but lists only these two, so it does not establish a third route or voting eligibility from liquid SUSHI alone. Any community member may post a forum proposal. A binding Snapshot proposal must be posted by CORE and reach a proposal-wide quorum of 5,000,000 SUSHIPOWAH; that is not an individual holding requirement or forum-submission threshold. Treasury execution then requires 4 of 6 Safe signatures, so a vote does not execute code by itself.
The token has no hard cap. MasterChef owns minting through a two-day Timelock and operations Safe, while live supply on 2026-09-04 exceeded the documentationâs 280 million headline.
Chef Nomiâs fund sale and key transfer in September 2020 showed that community branding did not remove concentrated administrator power.
RouteProcessor2 later showed a different weakness: one approval flaw exposed user assets, while failed bridges left anySushi and 1Sushi potentially insolvent.
Sushi Labs now directs product execution alongside the DAO. SUSHI offers protocol participation, not shares in Labs or Sushi Holdings, fixed redemption or principal protection.
Chef Nomi launched SushiSwap from a Uniswap-derived codebase and used SUSHI emissions to attract liquidity into a community-branded exchange.
After selling development-fund SUSHI, Chef Nomi transferred contract control to Sam Bankman-Fried; the episode exposed how much authority sat behind an advertised community project.
The migration moved liquidity-provider positions into SushiSwap pools, turning the incentive campaign into a functioning exchange with its own reserves.
Sushi introduced SushiXSwap across Ethereum, Arbitrum, Optimism, Fantom, Avalanche, BNB Chain and Polygon using LayerZero and Stargate.
An approval flaw in RouteProcessor2 led to asset losses and a claim process, showing that SUSHI governance and a multichain brand did not make every router safe.
Sushi announced Sushi Labs alongside the continuing DAO, moving product execution toward a council-led structure while leaving token governance as a separate layer.
Last evidence review: 2026-09-05
Sushi launched in August 2020 from Uniswap V2 code and paid SUSHI to liquidity providers willing to deposit their positions for migration. The campaign moved liquidity into SushiSwap pools on 2020-09-09, turning an incentive fork into a functioning exchange.
Sushi is now a family of contracts rather than a chain: V2 and V3 pools, an aggregator, SushiXSwap routes and the SushiBar do different jobs. A non-custodial interface still asks users to approve routers and depends on pool, bridge and route contracts; control of a wallet does not remove those permissions.
SUSHI at 0x6B3595068778DD592e39A122f4f5a5cF09C90fE2 is an 18-decimal Ethereum token used for incentives and governance.
The token has no hard cap. MasterChef owns minting through a two-day Timelock and operations Safe, while live supply on 2026-09-04 exceeded the documentationâs 280 million headline. RouteProcessor2 later showed a different weakness: one approval flaw exposed user assets, while failed bridges left anySushi and 1Sushi potentially insolvent.
SUSHI at 0x6B3595068778DD592e39A122f4f5a5cF09C90fE2 is an 18-decimal Ethereum token used for incentives and governance.
The governance document measures voting power in SUSHIPOWAH: each SUSHI represented in a SUSHIâETH liquidity-pool position counts as 2, and each SUSHI held through xSUSHI counts as 1. A voter must already have eligible power when voting starts; acquiring it later does not qualify for an ongoing vote. The page refers to three options but lists only these two, so it does not establish a third route or voting eligibility from liquid SUSHI alone. Any community member may post a forum proposal. A binding Snapshot proposal must be posted by CORE and reach a proposal-wide quorum of 5,000,000 SUSHIPOWAH; that is not an individual holding requirement or forum-submission threshold. Treasury execution then requires 4 of 6 Safe signatures, so a vote does not execute code by itself.
The token has no hard cap. MasterChef owns minting through a two-day Timelock and operations Safe, while live supply on 2026-09-04 exceeded the documentationâs 280 million headline.
Sushi Labs now directs product execution alongside the DAO. SUSHI offers protocol participation, not shares in Labs or Sushi Holdings, fixed redemption or principal protection.
No. The documentation uses that headline, but the token has no hard cap and on-chain supply was 291,514,753.900922845010395247 on 2026-09-04.
The governance document measures voting power in SUSHIPOWAH: each SUSHI represented in a SUSHIâETH liquidity-pool position counts as 2, and each SUSHI held through xSUSHI counts as 1. A voter must already have eligible power when voting starts; acquiring it later does not qualify for an ongoing vote. The page refers to three options but lists only these two, so it does not establish a third route or voting eligibility from liquid SUSHI alone. Any community member may post a forum proposal. A binding Snapshot proposal must be posted by CORE and reach a proposal-wide quorum of 5,000,000 SUSHIPOWAH; that is not an individual holding requirement or forum-submission threshold. Treasury execution then requires 4 of 6 Safe signatures, so a vote does not execute code by itself.
No. The official registry warns that anySushi and 1Sushi may be insolvent after bridge failures; verify the canonical Ethereum contract and supported wrappers.
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