Weekly Round-up (August 1st Week)
Introducing Toshokan, a community-first blog for Sushi

Introducing Toshokan, a community-first blog for Sushi

Today we're excited to introduce Toshokan (図書館 Japanese word for library), our new blog that will help keep our community informed about the latest happenings at Sushi.

3 min read

Weekly Round-up (August 1st Week)

This is a weekly update covering interesting news happening in the Sushi community. If you’ve missed the latest forum call, or haven’t had a chance to browse the forum then read on!
Weekly Round-up (August 1st Week)

Head Chef Hopeful, Jon Howard, and Miscellaneous Things Proposal:

Discussion continues within the Sushi Team’s temperature check proposal. The multi-ask proposal recommends Jon Howard for the Head Chef position, covers a proposed compensation package, and proposes team bonuses at various price targets. The multi-ask proposal has garnered much discussion reaching over one hundred responses and votes.

Jon Howard’s experience speaks for itself. He has founded multiple organizations, is the CTO and co-founder of Bighead Club, and is an artist and full-stack engineer. Jon’s experience also indicates he has been present in the crypto-space since at least 2017 and so has shared in many of the experiences we all have seen within the space. While he has focused his career mainly in the realm of NFTs rather than DeFi, his skillset makes him an exciting candidate for the Head Chef role.

The compensation package outlined for Jon is described in detail within the forum post. Some concerns have been raised about the ask. Jon and the Sushi Team have done their best to address the concerns. Discussion continues on this topic, with another Head Chef hopeful – who goes by SuperGenius on the forum, and Kenneth in meat-space – indicating his ask would have been around $300,000 per year; this is less than half of what is being proposed for Jon. The only other Head Chef candidate, Nick, has not commented on what he would have seen as fair compensation, and has not yet made himself available to the community for questions.

Team bonuses are also discussed within the proposal. The price targets were lowered to be aligned with the Head Chef’s targets. The reduction of the price targets is being attributed to bear market conditions. As well as this, 350k Sushi is proposed to be set aside for incentivizing product releases such as Shoyu and Trident. This fund will be drawn from to incentivize various milestones and product completions.

On the matter of the vote in response to this temperature check proposal, some irregularities have occurred. It has been indicated in the forum call by Tangle, that more than 70 “zero-trust” users have appeared to cast their vote. Of these voters many have voted for the proposal. This has led to some discussion on the credibility of using the forum for temperature checks, as manipulation appears to be occurring. It is still entirely possible that this proposal has simply led to more community engagement, and forum sign-ups. Only time will tell if these new forum users stay and continue to participate in the Sushi discussion!

Sushi Meiji Restoration Proposal:

Former Sushi core team member – though he is not fond of that term – LevX has coauthored a proposal with Cookies and ControlCplusControlv. The proposal expands on ideas laid out in LevX’s earlier proposal.

The proposal suggests using the VE model. This would involve redistributing the platform fees from xSushi to oSushi. The oSushi token would be responsible for the gauges and the revenue generated by the protocol. This means the oSushi holders can dictate incentives for Liquidity Pools. Some are questioning this model’s effectiveness when Sushi’s token emission stream is nearing its final year. The use of “bribes” would be the method that incentivizes oSushi token holders to direct emissions to liquidity pools offering the greatest split of profits.

The Meiji Restoration would also see a change in governance of the DAO. The Meiji DAO would use a non-transferable share approach that is inspired by MolochDAO. This would also see a shift to entirely on chain voting where the DAO is directly able to control and execute matters related to the tokens in the Treasury and other Sushi holdings wallets. This would be an improvement over the current model that uses Snapshot which requires other parties holding multi-sigs to carry out Sushi’s governance wishes.

Sushi Meiji Restoration
Sushi Meiji Restoration Authored by @ControlCplusControlV, @levx.io, and @Cookies Like Japan before the Meiji restoration, Sushi has fallen behind and needs to rebuild if it is to avoid collapse. This proposal aims to instate a new era for Sushi, one led by a reinvigorated DAO and one where the…

In Other News:

Fringe Finance jumped into the community call to further recommend Sushi and xSushi be listed as assets that can be lent and borrowed against on their protocol. It is still unclear how this would be better than lending and borrowing these assets on Kashi.

Check out the weekly forum call on YouTube if you would like to catch up!