AMA Recap — Meet the New SGC

Q1: Outstanding tokens is very high, anyway you can make price of tokens rise? Especially for folks in LP pool for long time are rekt sashimi/eth pool

@aelf(zhuling)
i’m not sure whether it was good or bad, but Sashimi launched at a time that the market was good and hence got a lot of attentions. Like many other projects, the initial inflation was high. However the team took actions quickly and the inflation of sashimi is very low right now. In additional Sashimi has shifted from liquidity farming to fully fledged vault strategy and swapping functions. These functions intelligently create values to users and also a portion of profit goes back to treasury for buying back Sashimi, putting Sashimi in a deflation mode. This makes Sashimi token model completely different now.

@11parkjj2
w.r.t. your concern about oustanding tokens, please be assured that the developers have already adjusted inflation to 10 sashimi a block and have already controlled token inflation. It is now time for us to work on working on new products/ideas to bring value to Sashimi.

Q2: What benefits can Sashimi Governance Committee bring to us?

@Koki
I would like to set out from the point that “what governnace” could bring to Sashimi, and the committee is here to drive and serve for the community governance.
Onchain governance is a key place for all Sashimi holders to actually “use” the Sashimi in their hands. Like what is happening in the majority of the Defi communities, your governance token at hand could decide where the product would go like issuing parameters of Sashimi, investment strategy of Sashimi, Asset that Sashimi would support and etc.
Indeed, governance is a long way to go and it calls for the participation of all community members but we’ve already seen quite a few successful precedents like Maker community is deciding over “10 mln DAI credit line” to multiple borrowers through governance and Curve communities is battling for the mining multipliers with the CRV they staked , all these events are highly related with “money”.
We have already survived the era that nothing to “govern” , and in this game, Sashimi at each holders’ hand owns the highest power within this ecosystem.

@aelf(zhuling)
The governance committee is basically a process in palce to ensure transparency of the project and to ensure community voices are heard and incorporated in Sashimi’s future development. In addition, Sashimi governance committee plays a central role to bring DEFI Expertise to Sashimi. The SGC is working on a governance litepaper to elaborate visions, roles, processes etc. We are designing a system that can make sashimi professiional as a Defi product at the same time if it is a community driven project moving forward

Q3: When can we expect the rebranding to take place (i.e. along side AESWAP etc.)?

@Koki
Rebranding is definitely a must, me personally is expecting a thorough re-branding of Sashimi, clearly stating Sashimi’s design in re-investing LP-tokens to seek for higher yield for users. Me personally think we need to involve more of our community members into the marketing and operation with adequate grants and incentives.
And as far as I know from the ops team, their rebranding plan is on the way as well. But setting out from a DAO perspective, community should not wait for the team.

@aelf(zhuling)
Rebranding will work step by step, and the key idea is to make people understand unique features of Sashimi and not anymore a fork of Sushi.

@11parkjj2
Rebranding will be required at some point of time. It’s just that I would like to propose that Sashimi develop a few more products before we rebrand — though I’ve had an idea that’s just come up to me @GodBless that would be relevant to you. It would make sense for Sashimi to develop as the “Asset Management” arm of the aElf ecosystem.

Q4: As originally promised, how will the $SASHIMI token be integrated into AESWAP and the aelf blockchain?

@Koki
for the questions related to aeswap, I will leave that with @aelf , who would be on a more suitable position to answer~

@aelf(zhuling)
Yes, $Sashimi token will be integrated into aeswap and aelf blockchain once both sides are ready. Sashimi will be a crucial component of the Defi ecosystem in aelf blockchain.

@11parkjj2
As potentially suggested above, we could consider developing Sashimi as the premier Decentralized Asset Management platform on AESwap.

Q5: $sashimi is a key differentiator for the sashimi swap platform but I think it’s under-utilized right now. Does the team have any plans to increase the importance and integration of the $sashimi token into the platform?

@11parkjj2
Again, I would like to see how we might be able to develop Sashimi to become a token of utility on the greater plans of things and may issue a proposal to deal with this matter.

Q6: Liquidity and TVL is uneven across the platform (not much in LP’s, most in Vault), are there any plans / strategies to spread the TVL across the platform? Also any plans / strategies to help motivate users to reallocate their funds to platform functionality that directly contributes to the Sashsimi eco-system (LP’s, staking etc.)

@Koki
Haven’t checked with the product team, but believe that uneven of the TVL and liquidity is mainly due to low total TVL and market awareness, this might be balanced up with the growth of total amount.
in terms of long term strategy and product, I personally believe that “return” is the key. DeFi vaults like Sashimi, which is now acting a role as “investment managers” will be facing the challenges of being homogeneous and decreasing the expected rate of return, will soon start to compete with each other on the capabilities in product design. We are working to explore for more sophisiticated strategy like yield farming + option to enhance the return of the vault.

@aelf(zhuling)
Liquidity and TVL is uneven, due to the fact that more people have investment needs in vault, and so far swap function is not heavily used. the AEX team has made a few great ideas on how to bring up liquidity in swap and usage (the long tail of ERC20 tokens need a place for swap). My view is that funds are not unevenly distributed, sashimi has room to grow liquidity in both swap and vault.

@11parkjj2
There is a clear need to take an overall look at tokenomics and perhaps look at rebalancing issues between Sashimi products. This is one of the pending priorities I have for Sashimi.

Q7: Will Sashimi release NFT token? And when?

@aelf(zhuling)
NFT has been heavily studied by the aelf team, and there are a few experiments that the team are doing. NFT will be a liquidity farming target in the future (not too soon though).

Q8: Is sashimi plan for stop loss order features on swap platform ?

@11parkjj2
Yes this is one of the new products I am thinking of implementing — along with lending and borrowing protocols and potentially even having “Shorts” on the Sashimi Platform

Q9: What are the current plan for developping Sashimi?

@aelf(zhuling)
Sashimi is developing a few new features, first a new UI coming, then lending function, alongside with more farming strategies are in the making.

@11parkjj2
The SGC are currently in the process of drafting community-driven development, and anyone in the Sashimi community will be able to propose products/ideas for the Sashimi ecosystem. I personally will also be submitting 2–3 products within this term of governance. A litepaper on the Sashimi governance committee and community-development will be released soon.

Q10: What are we going to do with Marketing fund?

@aelf(zhuling)
Marketing fund will be voted by a community in a proposal soon so that we can use the fund onto brand awareness, community engagement etc.

@11parkjj2
Once again, I have chosen to focus on the product-side of development for this term, but perhaps my other fellow SGC members may follow up with you on that, or perhaps you can take reference from @Koki’s answers.

Q11: Any way to bring more liquidity into Sashimi?

@aelf(zhuling)
If you look across the handle swap + vault in the market, sashimi is probably the second most technologically advanced (and development focused) project after YFI. More developers are helping Sashimi to build cool functions. these functions togehter with marketing effort will bring more liquidity into Sashimi.

@11parkjj2
I am of the belief that liquidity will steadily flow into Sashimi, as products become more mature. In the meantime, it would be helpful if everyone could share there thoughts on what they might want to see Sashimi achieve.

Q16: The price of Elf increased by 40% over the course of 24 hours. I think this is because people are looking forward to Elf’s mainnet. So we think the most important thing is what role Sashimi will play after Elf’s Mainnet. That would be most effective in promoting the value of sashimi. I’m curious about the content and plans for this.

@aelf(zhuling)
the aelf team believes in the value of Defi and that’s why we launched Sashimi to show our product knowledge and our contribution to the space. aelf blockchain will provide a more friendly infrastructure for Defi, namely much cheaper gas fee, faster transaction, build-in governance model, etc. aelf team will always be a great advocate to Sashimi and will work on value transfer between ethereum and aelf so that Sashimi can process transactions from both sides. That is to double the exposure of sashimi in Defi space.

@11parkjj2
I have not yet considered the role and synergies between Sashimi and ELF — but I will get back to you as soon as I have some ideas. Perhaps we could look towards some type of shared liquidity to stabilize prices.

Q17: Any time estimate on when sashimi listing on binance smart chain will take place? What do we have to do to get it on there?

@aelf(zhuling)
We are in talk with Binance team. Building it up on BSC is not an issue for the aelf team, we are exploring how to best work with binance to market it and get their endorsement.