Ashleigh Schap, Head of Growth at Uniswap, criticized a recent article by Yearn Finance founder Cronje that criticized forked protocols in the DeFi space, Schap describing Yearn’s recent merger with SushiSwap as validating a “stolen DApp “.
Cronje’s January 12 blog post, “Building in DeFi Sucks”, complained about the risk of competitors tampering with its code, and combining it with attractive tokenomics in an attempt to distract users from the products it has. invested a lot of time in construction. He wrote:
“I can even make the top quality product, but a competitor can just make my code and a token that hits endlessly, and they’ll have twice as many users in a week.”
This is exactly what happened when SushiSwap was detached from Uniswap at the end of August 2020, with the new project launching a native token and farm yield program to successfully collect over $ 1 billion. dollars of cash to Uniswap.
In early December 2020, Yearn Finance merged with SushiSwap, arousing the ire of the Uniswap community. As such, the apparent hypocrisy of Cronje’s comments has not been lost on the growing head of Uniswap, which tweeted:
“One of your complaints is that anyone can steal your work by definition. And yet YFI chooses to partner with Sushi. When a legitimate dapp validates a stolen dapp purchase partnership, it is simply encouraging this type of behavior. “
Schap also targeted Cronje’s comments in which he described the notion of community in the crypto industry as “bullshit” that accompanied the claim that “governance and community kill innovation.”
6 / Not at all agree that the community is bullshit. The Uniswap community and users evangelized uniswap in the biggest dapp on Ethereum long before there was a token. The community incentive to need decentralized liquidity was sufficient.
– Ashleigh Schap (@ashleighschap) January 12, 2021
The thread sparked a debate within the crypto community with Hasu calling it “a rare look behind the curtain” at Uniswap headquarters, which revealed that the company views SushiSwap as “a” stolen DApp “that should be socially avoided.”
FTX founder Sam Bankman Fried, who was given control of SushiSwap for a short time last year, defended the cloned protocol:
“It might be hard, but I believe it. Uniswap had a long time to do anything, anything, with its product. It wasn’t. It wasn’t Sushiswap copying the whole new thing. real-time code. It was practically in the public domain. “
Uniswap was able to reclaim its DEX leadership position in terms of stranded value after SushiSwap’s first liquidity vampire attack in August by instituting its own native token and liquidity rewards. However, after the UNI Awards ended in November, SushiSwap recouped its $ 1 billion TVL by offering performance incentives for the same couples that Uniswap had previously encouraged.
In December, Yearn Finance announced a merger with SushiSwap with the aim of expanding its ecosystem and pooling its development expertise. In total, Yearn absorbed seven major DeFi protocols at the end of last year, including SushiSwap, Deriswap, Cream Finance, Cover Protocol, Akropolis, Bounce Finance, and Pickle Finance.