By
Andy Watson
August 8th, 2023
GoldenTree says it invested in SushiSwap because it believes in the potential of the decentralized platform.
Asset management firm GoldenTree recently revealed a $5.3 million stake in the governance token for SushiSwap. In a post on the SushiSwap community forum, the New York-based asset manager outlined its purchase and comprehensive crypto strategy.
According to GoldenTree, it has been following SushiSwap for a while, and believes the decentralized exchange has tremendous potential. The leading asset management firm also expressed delight at the prospect of being more hands-on with Sushi, especially with GoldenChain’s launch.
GoldenTree also extolled the virtues of Sushi in relation to its own agenda, saying:
“To GoldenTree, Sushi represents the best of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating, without artificial barriers to competition.”
“We love the approach to new, composable products such as Trident and Bento that give developers frameworks on which to layer on … We don’t think the full power of these products has been unlocked yet, or appreciated by many developers,” added the firm.
GoldenTree Opines SushiSwap Can Benefit Immensely from Its Wealth of Experience
In GoldenTree’s opinion, its close working relationship with SushiSwap will better project the decentralized platform. In fact, the asset management firm came up with a list of areas in which its expertise could serve Sushi. These include the decentralized exchange’s tokenomics, as well as general design and strategy. However, despite its offer to enhance Sushi in any way possible, GoldenTree also stated that Sushi does not have to follow its suggestions. The leading asset management firm instead expressed trust in the independent abilities of Sushi’s core team and community. GoldenState further said that Sushi would ultimately have to arrive at its own conclusions upon hearing several views. Also touching on the exchange’s stated resilience in the past, GoldenState said:
“Although the community has certainly been through some tough challenges, we’ve been amazed at the resilience of both the core team and the community in the face of these speed bumps, as you all have continued to build and release top-tier products.”
GoldenTree also included a link to an Ethereum address in the post which contains the approximately 3 million SUSHI tokens. According to blockchain data, the address received these tokens about 22 days ago.
GoldenTree
GoldenTree is a private $50 billion asset manager well-known for investing globally in a host of financial ventures. These include corporate credit, distressed credit, credit structured products, and emerging markets. The company reportedly ranks among Bloomberg’s 100 Top-Performing Large Hedge Funds and has approximately 270 employees.
Founded by Steven Tananbaum in 2000, GoldenTree formally launched its digital investment strategy arm GoldenChain a couple of months ago. Leading this relatively new business arm are Avi Felman and Joe Naggar.
Although it has its headquarters in New York, GoldenTree also has offices in Dublin, London, Singapore, Sydney, Tokyo, and West Palm Beach.