About Andy Forman
I’ve been involved in the Sushi community since the beginning of 2022. During that time I’ve had dozens of conversations with the community and core team members about all aspects of the protocol.
Outside of Sushi, I work full-time as a consultant with crypto exchanges, defi trading desks, and protocol teams. I work with clients on product strategy, defi risk management, and operational set-up. I speak regularly with defi teams and investors and have subject matter knowledge on market dynamics and user needs.
I started my career in corporate finance and later transitioned into tech product management. In 2017, I learned solidity and have been building smart contracts applications since. I’ve worked on multiple ethereum dapps including private voting and public goods funding.
As head chef I will help Sushi win in the market with defi users and lead initiatives to expand the reach of crypto networks. I will also develop a robust financial plan that is customized to the nuances of the protocol, and set-up the protocol for success over the next decade. I would like to see Sushi build a massive protocol with millions of users and billions of dollars.
What I would do as head chef
Product & Protocol Growth
The team has been correct to identify that the defi liquidity market is about $60b and doesn’t show signs of organic growth. Thus our strategy needs to focus on how we can, 1) grow market share within defi/web3 and/or 2) expand the usage of on-chain protocols for finance and tech activities (ie. consumer finance, institutional investing, social media, etc).
I’ll work with our teams to develop product specific strategies (swaps, lending, payments, NFTs) that will help us prioritize development activities and determine which partnerships to pursue. Our existing products provide the best short-term opportunity to drive increased fees and protocol revenue.
One area of importance for me is the AMM/DEX market where Sushi market share has been falling. The launch of Trident will be a major milestone and I see it as critical to continuously improve the network effects of Sushi Swap.
At the platform level I’ll develop an intermediate term plan focused on how we see the Sushi ecosystem evolving. I believe if our products are integrated at both the smart contract and user experience layers we should see more sustained growth over time. I see Bento as critical to this strategy; our version of Amazon Prime that keeps users and assets in the protocol.
And lastly I’ll help us move fast and execute go-to-market activities. I’ll help coordinate our activity across marketing, customer support, and release planning to ensure product launches are as successful as possible.
Within 30 days I will create a refreshed version of the Sushi 2.0 roadmap that adds prioritization and go-to-market activities for each of our products. Within 90 days I will publish a Sushi platform strategy that describes growth targets and plan to achieve.
There are major financial issues that Sushi needs to address and I don’t believe DAO members are aware of how dire the situation could become within the next 12 months.
As head chef, I will take the lead in developing a financial model and reporting process that can support Sushi beyond 2023.
There are three main objectives for the Sushi financial model:
Incentivize product investment and development.
- Sushi has a limited treasury and could struggle to compensate contributors over the long-term. The importance of profitability and a model that can fund new protocol development are crucial to our sustainability.
Align token value with protocol fundamentals and network effects.
- Sushi token emissions are due to run out in fall of 2023. We need to begin planning for a new token model in which protocol fundamentals support an investment case and token valuation. Sushi and other protocols.
Improve DAO decision making and capital allocation.
- I’ve been in community forums when we made important decisions without knowing the financial baselines or projections. It makes it extremely hard for DAO participants to judge and prioritize initiatives. I’ll help provide the analysis needed to make informed decisions about allocation of capital.
Within 90 days I will deliver a report on Sushi financial structure and investment model including operating budget, forecasted protocol revenue, and plan to finance growth.
A comment on Meiji- Something I really like about Meiji is that the ve model incentives long-term holders that are more likely to see the protocol through a complete investment cycle and hold operators (ie. head chef) to account on protocol performance.
Given our team size and budget, I expect to get hands-on in protocol operations and compliance. Here are the activities I expect to be engaged in:
Data & analytics
- The growth strategy and product development tactics described above are hard to measure without sufficient product reporting. I will help set-up data and analytics capabilities to measure performance.
Compliance & legal
- Working with legal and external compliance advisors on setting up Sushi for long-term sustainability.
- Establishing high levels of ethical integrity and transparency within protocol operations.
Contributor policies & dispute management
- We don’t have a HR function but I do want Sushi to be something people enjoy to work on. I will place an emphasis on supporting our people and being attentive to their needs.
Discord: Andy 4pool#2486