The Sushi community voted and the protocol listened and is now introducing a token launchpad.
The launchpad, called MISO, which stands for “Minimal Initial SushiSwap Offering,” is the latest product to arise from the community governance protocol that was built around the Ethereum-based decentralized exchange SushiSwap. It will be launched on May 20.
The project is intended to lower the barrier of entry to token creation and encourage new projects to launch on Sushi. MISO provides a platform where entrepreneurs can mix together “ingredients,” or pre-audited smart contracts, to customize and launch their own token. Prospective supporters of these tokens can easily access the codebase and other information about a project launching on MISO, as the smart contracts are all open source.
The first token set to be launched on MISO is SAK3 (called sake, like the Japanese rice wine), an ultra-limited celebratory token created by the Sushi team. Sushi will only ever produce 888 SAK3 tokens, with 200 of them going up for sale in a dutch auction on MISO’s launch day. The starting price for a SAK3 token is a whopping 88,000 SUSHI, or over $1.9M at SUSHI’s current price of $22.
SushiSwap seems to be following the lead of another decentralized exchange, Uniswap. Similar to Uniswap’s SOCKS token, which can be exchanged for a physical pair of socks, each SAK3 token is redeemable for one bottle of Sake.