Furo - A Forthcoming Sushi Offering:
Sarang dropped by the forum call and gave us some more details on this coming addition to the Sushi ecosystem. Furo may be available as early as this week.
If you’re familiar with Sablier, Furo offers the features present there as well as vesting. It allows a protocol or individual to stream or vest assets to other wallets, but with some interesting new features. Furo will house the assets in a Bentobox vault so yield can be generated during the stream/vesting period. No longer will securing tokens for the purposes of payment cause a loss of opportunity to earn passive yields on the tokens.
You can listen to Sarang’s in depth explanation on Sushi’s youtube channel found here:
Legal Entity news:
The team continues to proceed with the discussion of creating a legal entity with Fenwick. Neil dropped by and indicated the legal structure will likely involve multiple entities in different jurisdictions. Since Sushi is a DAO with an international span, some legal jurisdictions may benefit certain regions more effectively than others and so this approach may be better suited.
You can listen to Niel’s discussion on this topic at the 19 minute mark on the forum call here:
A Proposal to Rebrand Sushi’s Product Suite:
It has been proposed that Sushi should adopt a naming convention that provides greater clarity to the products on offer. Many Sushi users don’t spend time within the Sushi community and are less likely to be aware that Miso is for token offerings, or that Kashi is a lending protocol. The names we have are familiar to us, as community members (hopefully), but may obscure some of the services Sushi has on offer to those who only know Sushi through the main landing page. Rebranding in a manner that clarifies what is available may help make Sushi more accessible.
Head over to the forum to discuss if you think there’s value in a rebrand of Sushi’s suite of products. A poll has been set up to see if the community would like all products to be branded with Sushi followed by the specific function of the product, a mix of the product’s function and the Sushi themed name (i.e. Kashi Lending, Onsen Farms), or if they should remain unchanged.
The proposal can be found here:
A Proposal from Metamouse Protocol:
Metamouse has reached out to the community in a proposal. They are looking to raise $2.5 million from various DAOs. In return these DAOs would receive Metamouse’s own token in an amount roughly equivalent to the investment that would be locked for 12 months. The service they offer is a crypto-to-fiat payment service without KYC.
The user sends tokens to Metamouse and the payment instruction, and they send the request to one of their payment partners. According to Metamouse, their verified payment partners offer up collateral to the protocol and this amount determines how large of a payment they can handle. The verified payer pays the amount to the party, it is verified, and then the crypto assets are released to that party along with a portion of the transaction fee. The current transaction fee for this service is 3% regardless of size.
Since this service is already up and running, it appears they are reaching out to Sushi to develop a partnership with their own DAO and an investment from Sushi. As the tokenomics of the Metamouse DAO token are unknown, and external to Sushi, this would require assessment to determine if it would hold value and be a reasonable exchange for Sushi.
To learn more and discuss go to the proposal on forum:
Hats - A Bug Bounty Proposal:
Hat.finance is asking Sushi to create a pool within their protocol to incentivize whitehat hackers, auditors, and bug bounty hunters. Hats offers an interesting web3 approach to paying bounties to individuals or organizations who find and report vulnerabilities within smart contracts. The current model requires that the party reporting the vulnerability trust that a bounty will be paid after they have already disclosed the valuable information to the protocol.
Hats intends to solve this dilemma by providing a way for the bug-bounty-hunters to document on-chain that they shared the vulnerability and are entitled to the bounty. This is done by initially sending an encrypted message through the Hats.finance protocol that is directed to the external protocol, in this case Sushi, which will have a committee that receives and handles these sensitive matters. If all goes well, the bounty is paid from the Sushi bounty pool, the vulnerability is fixed, and everybody wins.
Hats allows the bug-bounty-hunters a method of documenting their vulnerability findings on-chain that they can later disclose and file a claim for the bounty from the pool held in Hats’ custody which avoids the scenario in which a protocol could choose not to pay the bounty despite receiving valuable information about a vulnerabilities existence.
Hats business model involves receiving a percentage of any bounties paid out from the bounty pools kept in their custody. As Sushi is a well established protocol, some may question the necessity of a third-party for bounty payment, but this is an intriguing web3 solution to bounty payment.
Read more and discuss here: