After an on-chain election, SushiSwap chooses a new "Head Chef"

A new "Head Chef" has been chosen by the SushiSwap community after months of uncertainty and debate. The decentralized autonomous organization will be led by Jared Grey, a former CEO of Bitfineon and the decentralized financial services network EONS (DAO).

"We're thrilled to welcome Head Chef Jared Grey to the Sushi family with nearly 11 out of 13 million votes in favor!" Tweeted SushiSwap.

The most recent change occurs as SushiSwap struggles to compete in the larger worldwide marketplaces. According to Bloomberg, a number of DAO executives have left the organization, and as a result of the current market slump, the total worth of cryptocurrencies channeled through SushiSwap has decreased from its peak level of roughly $7 billion peak in November 2021 to only about $500 million.

The community conducted a multi-stage search process to choose its new leader, holding open invite mic sessions for candidates, asking them to submit formal proposals, and hosting a final Head Chef debate that allowed five candidates to participate in the closing stages, according to a statement from SushiSwap.

The DAO identified Andy Forman, Kenneth Hurley, Jared Cohen, and Pauly Walton as the final four contestants who met the requirements to participate in the vote's final round.

According to information from CoinMarketCap as of 08:20 a.m. UTC, the price of SUSHI, the governance token of the decentralized exchange, was up 1.8% during a 24-hour period in response to the most recent statement, hitting a level of $1.12.