Sushi
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Sushi

What’s new in the SushiShop?

Things have been very busy and we’ve tried to keep everyone informed through discord, twitter and the forums. But for those watching from a distance, here a summary of what we’ve been up to.

New OmakaseBar website is live for testing

All your Sushi needs in one place, that’s what the OmakaseBar brings. You can check it out now at https://sushiswap.fi/.

Besides this there are a lot of ways to play with Sushi:

We’ve got a team!

After a tumultuous start, we had SBF and team step up and guide us through migration. Naturally they are pretty busy and can’t devote all their attention to Sushi full-time. With 0xMaki elected to lead the project by the community, he has assembled a team from the early contributors and volunteers who stuck with the project no matter what. The current full-time team:

There are of course many others working hard to making Sushi a success, such as:

  • Chester LaCroix — working on branding/design
  • Kastrye — working on branding/design
  • Miya — streamlining communications, social, international
  • BoringCrypto — tech, building BentoBox
  • Countless others…

After the chaos of the first few weeks it took some time to get things sorted out and streamline things internally… we now have a strong team in place to take Sushi forward for the community.

All things multi-sig

All the dev funds are currently under control of the 6-out-of-9 community elected multi-sig with about $14m worth of SUSHI. All changes to the protocol is now controlled by a 3-out-of-5 multi-sig (0xMaki, ctrl, OmakaseBar, JiroOno and BoringCrypto) and behind a 48 hour TimeLock.

Menu of the Week

SushiSwap is introducing a rotating menu of reward pools. Today 9 pools went live and one more coming soon:

  • xSUSHI-ETH 0x36e2FCCCc59e5747Ff63a03ea2e5C0c2C14911e7
  • cDAI-DAI 0x0Cfe7968e7c34A51217a7C9b9dc1690F416E027e
  • WBTC-ETH 0xceff51756c56ceffca006cd410b03ffc46dd3a58
  • CREAM-ETH 0xf169CeA51EB51774cF107c88309717ddA20be167
  • MEME-ETH 0x17b3C19Bd640a59E832AB73eCcF716CB47419846
  • wNXM-ETH 0xFcff3b04C499A57778ae2CF05584ab24278A7FCb
  • yUSD-ETH 0x382c4a5147Fd4090F7BE3A9Ff398F95638F5D39E
  • yUSD-WBTC 0x2024324a99231509a3715172d4f4f4e751b38d4d
  • CRO-ETH 0x0be88ac4b5C81700acF3a606a52a31C261a24A35
  • renBTC-WBTC 0x518d6CE2D7A689A591Bf46433443C31615b206C5 (soon)

Growth Fund

The community has voted to provide the team with a growth fund topped up every month that will help the team to reward volunteers, pay for operational costs, run contests and many more things…

Partial Lock-Up of new rewards

Within a day we will implement a community proposal to lock up 2/3rd of harvested SUSHI for 6 months. It was also decided to cap the max supply of SUSHI to 250M.

The BentoBox lending solution

Platforms like Compound and Aave allow users to deposit assets as collateral and borrow other assets against this. These protocols have attracted billions of dollars, but they suffer from some major limitations. Taking away these limitations could see much larger adoption. BentoBox aims to do just that.

  • Isolated lending pairs. Anyone can create a pair, it’s up to users which pairs they find safe enough. Risk is isolated to just that pair.
  • Flexible oracles, both on-chain and off-chain.
  • Liquid interest rates based on a specific target utilization, such as 75%.
  • Contracts optimized for low gas.
  • The supplied assets can be used for flash loans, providing extra revenue for suppliers.

And so much more!

Some things in the pipeline are rebalancing of the reward pools, setting a schedule to keep total supply under 250M, easy migration from UniSwap pools to SushiSwap pools, and a lot more… ganbarimasu!

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BoringCrypto

BoringCrypto

I read smart contracts for fun...