Furo is now LIVE!
Stream tokens to your team, to your grandma, to yourself?... all while having the potential to earn passive income since the tokens will be safely kept within your Bentobox, and the Bentobox of whomever is on the receiving end of the stream. The tokens provide earning potential to whichever address they belong to at the time (Streamer/Receiver). So initially the streamer will receive the bulk of the rewards, while if the receiver leaves the funds in their Bentobox, they will capture these benefits as well.
Gauntlet’s Snapshot Vote Has Failed
What does this mean? Gauntlet was responsible for sending emission recommendations to the team based on some complicated analysis done by their team. With emissions slowing, they were hoping to take on a new role, offering their services wherever the team could find benefit.
Why did the proposal fail? Perhaps the community or investors felt the asking price was too high given the uncertainty of what they would be providing as a service? If the team feels they have extra value to offer to the protocol and Gauntlet can adjust their fee model, maybe a new proposal could come forward to integrate them back into Sushi after their contract expires. Pocketsquare suggested, during the community call, that it might be in the better interest of Sushi to see if Gauntlet would be willing to accept an incentivized payout rather than an upfront payment for services. Whether or not Gauntlet can work with this – as they are a meat-space organization that must pay their staff at regular intervals – is unknown.
Sarang provided a quick update about the integrations being done to make cross-chain routing simple and easy on Sushiswap. For cross-chain swaps, the current state of routing requires Sushiswap users who are taking advantage of Bentobox to: Move their assets to their wallet, use an external bridge solution, put their tokens back into their Bentobox on the new chain, then carry out swaps on the new chain.
This will be a thing of the past, as Stargate becomes integrated as an option for Bentobox users! Auditing of new routing solutions is expected to be completed on June 20th and internal testing has been very positive. Look for more updates on this functionality in the coming weeks!
xxSushi (Cross xSushi)
Sarang also gave a heads-up that a proposal is on the forum for a new solution for getting Sushi fees to Sushi stakers. This model would see the fees being put up in an auction where the buyer receives the fees in exchange for a payment made in Sushi. This would remove the burden from the Sushi Dev team that currently has to collect all fees from each token-pair. This new solution would be permissionless, as it would use contracts and automated auctions to incentivize big-bagged individuals to bid on the fees. The marginal difference between the value of the fees and the bid price acts as an incentive for the bidders to do the leg-work of collecting the fees on behalf of the Sushi stakers. Learn more here: https://forum.sushi.com/t/xxsushi-cross-xsushi/10771/25
Trident’s Stableswap is nearly here. Users will be able to access low-fee stablecoin liquidity pools on Trident. Low fee stablecoin liquidity pools are critical for AMMs as it lowers the cost of moving from one stablecoin to another, which is usually only part of an on-chain transaction. Since stablecoins are used heavily as one of the paired assets in a token pair, having a lower-fee option available on Trident will reduce costs for liquidity providers putting together their token-pairs, thus reducing the friction of supplying liquidity to token-pairs.
Trident’s Stableswap will allow stablecoin liquidity providers to capture fees for swaps between the various stablecoins on offer at a significantly lower fee-per-trade, but the low-fees encourages a greater volume of trades to occur.
Does the Sushi Community Want to Save the Planet?
We’re trapped on this globe, why not try to keep it from catching fire? This is the recommendation of KlimaDAO. They have proposed that Sushi add the option for users to opt-in to purchasing carbon offsetting credits on each swap. Using Mathematics and other high-tech tools, climate wizards have determined the carbon emissions accrued by each on-chain transaction. KlimaDAO wishes to negate this environmental impact with their opt-in feature for Sushi swaps. Sushi would benefit by being the first major AMM to offer this feel-good, tree-hugging solution to its users. Whether or not it is practical, and easy to implement are questions that have been raised. The future of the planet is in your hands, discuss on the Sushi forum: https://forum.sushi.com/t/klimadao-x-sushi-swap-carbon-offset-integration/10678/38
Hats Finance is Back
In the community call, Hats Finance returned to remind us of their web3, decentralized solution to protecting Sushi from exploits. As opposed to the centralized bounty solutions currently available, Hats offers a token lockup for paying bounties that uses a decentralized approach to determine the validity of a bug raised by a bounty hunter to determine if a bounty should be paid out. Hats Finance suggests that this approach puts bounty hunters’ minds at ease as to whether they will be rightly paid for their hard work in saving protocols from exploits. The proposal can be found here: https://forum.sushi.com/t/bug-bounty-vault-proposal-by-hats-finance/10616/10
Sam Bacha dropped by for the community call to give a brief update on the state of SushiGaurd. For those who need a refresher, SushiGaurd protects swaps from filthy bots that would extract value for their owners at the expense of greater slippage to the swapper. Sam said the audit has been completed, and SushiGaurd is ready to go. The Sushi team and Sam simply have to iron out some details to see when/if it will be implemented, but it is ready to go on his end! More details likely to come in the next couple of weeks!