TechDeFi Sushi Passes 2 Proposals to Strengthen Treasury

• The Sushi community passed two governance measures in order to strengthen the DeFi service’s treasury and long-term staying power.
• The “Kanpai” proposal redirects all trading fees from xSushi holders to the Sushi treasury, while the other seeks to claw back unclaimed sushi tokens from a distribution held in 2021 back to the treasury.
• Liquidity providers have until Apr. 23 to claim their tokens before they are sent back to the Sushi treasury.

The Sushi community has recently voted on two separate proposals that aim towards strengthening its decentralized finance (DeFi) service’s treasury and long-term staying power. With an overwhelming majority of votes cast by token holders who staked sushipowah and xsushi – two of Sushi’s ecosystem tokens – in the project’s governance forums, both initiatives were approved.

Sushi is a protocol for providing financial services such as trading, borrowing and lending using smart contracts, which have allowed it to lock up over $459 million in tokens since its launch in 2021 – down from a lifetime peak of $7.5 billion at one point last year. The first measure passed was known as the „Kanpai“ proposal, which directs all trading fees generated by xSushi holders directly into the Sushi treasury instead of allowing them to receive 0.05% rewards as previously intended; this change is set for nearly one year until Dec 19 2023 when another reward system may be proposed and voted upon by users once again.

The second measure that was passed involved retrieving 8.2 million SUSHI tokens from an initial distribution held during SushiSwap’s launch phase in 2020; these rewards were given out to early liquidity providers who supplied assets into the platform but left more than 8 million unclaimed after six months had elapsed since then – with all unclaimed tokens being directed back into the Sushi Treasury post April 23rd if not claimed beforehand.. This decision will help bolster much needed funds for further development of projects under its umbrella such as projects like Uniswap or Kyber Network making it easier for new users to access these technologies without having prior knowledge or experience with blockchain technology itself