SushiSwap Aims to Adopt Uniswap v3 As It Shakes Off $3.3M Hack

SushiSwap hopes to revamp its tokenomics and boost user confidence by adopting the latest Uniswap AMM module

article-image

Sanjay kj/Shutterstock, modified by Blockworks

share

SushiSwap is looking to shake off its recent security exploit with a string of updates — including the adoption of Uniswap V3.

In a series of tweets on Wednesday, SushiSwap CEO Jared Grey outlined ways in which the long-running decentralized exchange hopes to address governance and management issues.

“Although there have been some controversies, like increasing Kanpai to 100% and hostile trolls trying to derail our progress, Sushi is moving toward strength,” Grey said.

“V3 helps us make tokenomics more efficient [and] vice versa. With V3’s improved capital efficiency and improved and sustainable tokenomics, we will scale growth across our more than 30 supported networks.”

Loading Tweet..

SusiSwap was initially created as a fork of Uniswap in Aug 2020, built by pseudonymous developer “Chef Nomi.”

Uniswap itself launched in 2018 but wouldn’t deploy a native governance token until two years later. SushiSwap initially pitched a greater say in the platform’s operations via SUSHI, allowing users to participate in decision-making while earning rewards.

Earlier this month, hackers exploited SushiSwap for $3.3 million by compromising its then-new Route Processor 2 — a technical smart contract component designed to increase efficiency for executing trades while boosting liquidity provisions. Some of those funds have since been recovered.

New route processor technology, which may have helped curb the exploit, was delayed due to this month’s million-dollar theft, Grey said. It’s expected the latest tech will allow the protocol to “optimally aggregate all Sushi liquidity.”

SUSHI currently trades for around $1.09, up 5% over the past month but down 62% since this time last year.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The exchange’s full approval from the UAE’s Securities and Commodities Authority marks a regulatory milestone for global crypto oversight

by Blockworks /
article-image

Founded by Coinbase and Cruise veterans, CipherOwl plans to bring artificial intelligence to blockchain monitoring and risk detection

by Blockworks /
article-image

As the shutdown enters its second week, sources say the Senate Banking Committee looks to move ahead with a market structure bill markup

article-image

The collaboration expands Ripple’s Middle East footprint, supporting Bahrain’s blockchain adoption and future rollout of Ripple USD

by Blockworks /
article-image

The medical device firm will manage its $400 million Solana holdings using Coinbase Prime infrastructure to bolster its digital asset strategy

by Blockworks /
article-image

The deal gives PayPay a 40% stake in Binance Japan, linking digital assets with Japan’s largest mobile payment network

by Blockworks /