In this special podcast crossover episode, Tarun, Hasu and Anna cover the emergence of governance tokens in the DeFi space and then dive deep into the Sushiswap story – what protocols came before and how it performed a vampire attack on (what was at the time) a tokenless Uniswap. This story acts as a fascinating case study as well as a cautionary tale for moat-less protocols.
This episode is the 1st of 2 parts, with the 2nd part airing on Hasu's Uncommon Core podcast.
In this part, we cover the definition of governance tokens and the first half of the sushi swap story.
Tarun also mentions “impermanent loss” in this episode. However this term has been called to “divergence loss” and you can read more about what it is here.
A quick caveat: We recorded this episode just hours before the Uniswap token launch, and so we decided to produce an amendment section to tackle the aftermath of the launch and wrap up the story. You can find this here:
Sushiswap Bonus Chat
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