Sushi Swap DAO Proposes Selling All SUSHI Token
sushi DAOThe organization that manages the Sushi Swap decentralized exchange has proposed diversifying its financial assets. Under the proposal, Sushi’s treasury will shift from 100% SUSHI tokens to a combination of stablecoins and other assets.
The non-binding proposal will seek community feedback from the DAO, particularly on specific variables, before a formal vote.
SUSHI Token May Face Liquidation
this proposal From Jared Gray, The “chef” of a sushi restaurant. he plans to sell All SUSHI tokens on exchanges and use the proceeds to acquire new assets. Gerry claims This operation will reduce the platform’s volatility risk, enhance liquidity, and generate higher returns.
“As Sushi DAO continues to grow, it is critical to ensure our financial sustainability and growth. The DAO ultimately holds its vaults in the form of SUSHI tokens, which exposes it to high volatility and liquidity challenges. The proposal outlines A strategy to diversify financial assets to reduce risk and enhance long-term stability,” Gray said.
Although this token was originally created for governance, DAO operation Today is under different rules. Governance votes will determine the success or failure of a proposal.
If implemented, all these tokens will be gradually sold and the proceeds will go to the new treasury: 70% stablecoins, 20% “blue chip” crypto assets (BTC, ETH), and possibly 10% other DeFi Tokens.
The proposal also stipulates that any remaining emergency fund will be composed of stablecoins. These assets will also cover future strategic investments and Sushi Swap operating expenses.
In other words, it is clear that there is no remaining condition to retain any SUSHI token holdings. This sweeping reckoning will bring about significant policy shifts.
Gray also Sushi DAO’s controversial reorganization April this year. Around this time, its price SUSHI token plummets nearly 20%but already It is recovering steadily recently. The coin gained nearly 130% last month, and this proposal has not stopped that trend.
At this time, the policy’s chances of success are unclear. The proposal attempts to receive community feedback to refine a fully binding governance vote.
For example, some variables such as SUSHI liquidation rate or Decentralized Finance The inclusion of tokens is currently unspecified. These and other practical issues are currently being debated in the DAO.
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