TVL on SushiSwap fell from $1.46 billion worth of crypto assets on Saturday September 12th, around 23:00 UTC, to $885 million as of press time the following day, according to SushiSwap Vision, which is a fork of the explorer used by Uniswap. SushiSwap executed its planned slashing of block rewards from 1,000 to 100 SUSHI for liquidity providers (LPs) on Saturday following the prior week's successful migration of $800 million in assets from Uniswap. The initial block rewards were designed to convince Uniswap LPs to entrust their LP tokens to SushiSwap so that it could migrate a large portion of Uniswap assets to SushiSwap when it went live (as it happens, Uniswap ended the migration with roughly double the assets it had before SushiSwap was announced). The drop suggests a significant number of LPs were primarily motivated by maximizing their SUSHI holdings rather than supporting an ostensibly more decentralized alternative.

https://www.coindesk.com/uniswap-sushiswap-defi-tvl-lead