Treasury Management : #1

We currently have 21m USD worth of SUSHI tokens in our 2 treasury multisig.

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We have the Cover proposal currently being voted weather this pass or not.

I think diversifying our holdings will be key in the future.

I propose to sell 1m USD worth of SUSHI into Stablecoins (DAI or USDC)

The majority will be used to buy a brand new domain name and provide coverage to Sushiswap via Cover Protocol.

2 options would be readily available

  1. Use Sushiswap with our current liquidity in the SUSHI/ETH this will create an impact of -1.2% on the price. (which is nothing…)

  2. Sell OTC to a supportive Crypto Fund that is willing to buy at 1.305$/SUSHI between 500k to 1m worth USD (no impact on the market price)

  3. Propose something or a mix of both.

Treasury
  • Sushiswap
  • OTC - Crypto Fund
  • No, other options.

0 voters

0xMaki

3 Likes

What do we know about the crypto fund intentions? Do they plan on actively participate to governance?

3 Likes

Only sell to Crypto fund? Possible to sell to individual investor? I may consider to buy it if USDT or ETH used, but some ppl don’t use dai or usdc, and main exchanges don’t have trading pairs of them either.

About the price, fixed price is unreasonable, ppl can arbitrage it. When OTC trading happens, the price of sushi could be 1.8, or 1 usd, it is not fair to trade with 1.3 for fixed price. Using realtime price with fixed percentage, like cheaper 1-2% of the price on main exchanges(binance/huobi).

3 Likes

I agree with some of the other comments:

  • What will the crypto fund do with it? If they intend to hold, can it be locked for x time?
  • Fixed price makes no sense, since buying 500k USDC worth only has 2.8% slippage on SushiSwap.

I would propose some more diversification in the treasury long term, but not too complicated, because we’re not an investment firm:

60% in SUSHI
20% in USDC + DAI
10% in ETH
10% in WBTC + renBTC

We should aim to reach these levels in about 3-6 months. We should avoid dumping directly into the market, but instead we can:

  • use small batches of limit sell orders slightly above current market price
  • offer SUSHI for sale at a discount, but with a 1 year lock or vesting schedule available to anyone
  • use SUSHI as collateral in BentoBox Lending once launched and borrow (collateral will not be available to anyone)

Having a healthy treasury ensures the longevity of the Sushi project. Providing investors with peace of mind that regardless of market conditions, Sushi can continue to grow and innovate for years to come.

10 Likes

目前sushi价格已经低于1.305美元了,提案二还能实施吗,如果有人愿意,那就更好。希望团队的提案尽快实施。

1 Like

I would think using the SushiSwap would be the most logical option, even if it had to be split over multiple transactions and duration to minimize slippage.

I would also like to propose to lock a certain amount up in the SushiBar and then using the revenue generated to fund ongoing operations.

4 Likes

Current price is 1.07 usdt now, so what I concerned is correct. I also support boring’s opinion, with vesting 1 year if the price is offered a discount.

1 Like

I like all of boring’s suggestions. I think 20% usdc dai is higher than I would choose, but if its supplying for bento box then I would agree to those rates as that would benefit the echo system.

A thought that occurred to me after the yearn announcement. What about selling them to Andre at a discount in exchange for offering us services such as access to his yacademy, a percentage of xsushi vaults, and linking us into this net of yearn mergers?

I like the idea of selling them on sushi or to sushi holders otherwise.

What about selling on SushiSwap using a TWAP algorithm ?
-1.2% is significative for leveraged traders, using TWAP can avoid the market impact.

Ex : Sell each minute $10,000, in 1h40 it’s finish :wink:

2 Likes