The Journey of Growing Sushi

Alex Shefrin, former head of BD at Sushi, at Safary’s Web3 Growth Summit

Welcome to the next episode of the Web3 Growth Podcast! 🦁

We interview the best growth operators about their growth strategies, challenges, and tech stacks to give you the insights you need to grow your business in web3 & beyond.

This episode was recorded during Safary’s inaugural web3 growth summit in February 2024, hosted by Safary & supported by Hype and Saison Capital. The summit featured 10 panels with over 25 growth leaders sharing what it truly means to grow in web3.

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Taylor Pedde (left), Alex Shefrin (middle), and Derek Barrera (right) speaking at Safary’s Web3 Growth Summit in February 2024

The Journey of Growing Sushi was moderated by Anshu Agrawal, cofounder of LogX, and features:

• Derek Barrera, Founder and CEO of Steer Protocol – offering innovative automated liquidity management solutions across blockchain networks

• Alex Shefrin, formerly leading business development at Sushi — leading multichain DEX

• Taylor Pedde, Co-founder of Serious People, who has spent considerable time working with Sushi on community engagement and growth strategies

The conversation addresses the challenges and strategies involved in navigating the decentralized finance landscape, with insights into the initial growth phases of Sushi and its ongoing efforts to ensure ethical and sustainable development in the DeFi realm. Episode highlights include:

• The initial "vampire attack" strategy and its long-term impacts on Sushi's growth.

• The role of business development in fostering a DEX's expansion and the importance of automated liquidity in maintaining sustainable growth.

• The significance of community-driven growth and the balance required to manage community input effectively without compromising the project's core objectives

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Episode Timeline

[00:01:11] Alex shares his experience transitioning from TradFi to a DAO

[00:03:12] Discussing the Vampire Attack and Its Aftermath

[00:08:19] The Role of BD in DEX Growth

[00:10:09] The concept of liquidity funnels and the importance of channel diversity for growth

[00:11:40] Liquidity Funnels and Incentive Models

[00:16:23] The Importance of Chain Expansion for DEXs

[00:22:26] Sushi's User Acquisition and Retention

[00:24:23] Sushi's Sustainable Growth and SushiBonds

[00:28:43] Community Involvement in Product Development