Sushi DAO, the governing body of the decentralized exchange Sushi Swap, has announced a new plan that is getting a lot of attention. According to this plan, Sushi’s treasury will no longer be made up of 100% SUSHI tokens, but will instead be made up of a mix of stablecoins and other crypto assets. This aims to reduce risks and make the platform more sustainable in the long term. However, this proposal is currently being evaluated by the community. In order for this to happen, the proposal needs to go through a formal vote. Here are the details.
Can SUSHI Tokens Be Sold?
This innovative proposal was presented by Jared Grey, the chief executive of Sushi DAO. Grey proposes that all SUSHI tokens be sold gradually. He plans to create a more diversified and durable treasury with the proceeds. In particular, he emphasized that these changes will significantly reduce the platform’s volatility risks. Grey made the following statement on the subject:
Diversifying our treasury holdings is a critical step in ensuring the sustainability and growth of Sushi DAO. Our treasury currently consists solely of SUSHI tokens, leaving us vulnerable to high volatility and liquidity issues. This proposal provides an improved strategy to reduce risk and increase long-term stability.
Furthermore, the proceeds from SUSHI tokens sold under the offering will be split between 70% stablecoins, 20% “blue chip” crypto assets (BTC, ETH), and 10% other DeFi tokens. Additionally, the remaining emergency funds are planned to be comprised of stablecoins. In addition, these funds will be used to cover operational expenses and finance strategic investments.
Diversification Plan Effects and Uncertainties
If this proposal is accepted, this policy will be a significant milestone in the current operation of the Sushi DAO. However, the proposal must pass a community vote to be implemented. In particular, details such as the sales rate and which DeFi tokens will be included are still open to discussion. Therefore, the opinions of community members are extremely important. The SUSHI token price has shown a remarkable recovery, rising by 130% in the past month.
There was no negative impact on the price with the announcement of this offer. On the contrary, the perception of long-term stability that the offer could create will increase community interest. Overall, this diversification plan stands out as an important step towards increasing SushiDAO’s financial resilience. At this point, community feedback and the outcome of the vote will play a critical role in the future of the platform. However, this strategy requires detailed planning and effective implementation to be successful.
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