Why do you think rewards are necessary? Its supposed to make a market with a specific utilization rate. If we were to add rewards I think that they should be used to incentivize the market to our desired levels.
Love this, especially in combination with having sushi used as gas. Should that be named Soy? Or Wasabi?
A simple addition to Sushi that I believe is technically feasible with sufficient resource:
The lack of accessibility and updates to the status of ones holdings, liquidity pools and returns is a major detriment to increasing adoption by less seasoned users. Notifications represent the ability to compile, process and share information in a way that is digestible and tailored to the needs of users. This would be useful across Sushiswap products and services. It would also be a testament to the ability to innovate.
I think this implementation could be served by innovating on the Ethereum Push Notification Service Protocol. I would be more than happy to play a part in supporting this effort given my background in system and mechanism design.
Thanks for creating and maintaining a great platform in this Defi Revolution! Sushiswap is by far my favorite LP interface. I love the new app interface, especially the “Portfolio” screen. It’s so sleek and contains everything about one’s positions. Below, I have an ASK, and a RECOMMENDATION, I welcome others to expand on how to make them possible or add on:
- Under Portfolio, after Staking LP Tokens, “Fees Collected” stops updating. I’d like to know how much $$$ in fees I’m making as part of my LP return (currently I have to use a spreadsheet and calculate my % of Liquidity and factor in daily volume, for a very crude estimate). There is currently no other place that I know of that separates Fees Collected from the P/L calculation (i.e. Zapper, APY Vision, etc.) Would it be possible to continue tracking this info even post-staking?
- Some sort of Liquidity Pool Tournament system that rewards the community based on participation (promotes Liquidity), holding short-term/mid-term pool assets (promotes Liquidity and Volume), due diligence (promotes the betterment of the entire Defi community), and not just on how much of a whale they are (we’re all in this revolution together!) Also, it would provide a new level of fun & excitement that no other platform would have! My very rough structure breakdown is below, we could definitely vote on it and refine it as the community!
Every month we would have a new LP Performance Tournament, in a 16 - LP bracket style, where LPs would go head-to-head each week, and “WINNERS - see definition below” would advance to the next weekly round. This would happen until the final week, where two LPs remain and compete to the be the monthly “CHAMPION - see definition below”. The monthly initial 16 LP bracket would be determined by the Dev team and reset (monthly) (could be voted on how to select the 16 monthly LP participants. Based on need for volume, expected asset performance, user popularity, etc.). We as the community would be “VOTERS - see definition below” to participate and earn rewards if we chose the correct LP as the CHAMPION for that month.
Each holder of Sushi would be able to participate as a VOTER, no matter how small their balance. This incentivizes people to stake their Sushi LP tokens. There could even be a bonus for holders of xSushi, for additionally staking their Sushi (i.e. if a VOTER held xSushi instead of Sushi at the beginning of each month/tournament, they would get X% bonus reward). VOTER would then “vote” on which pool would “win” that round and advance. “Winning” would mean whichever Altcoin asset had the best weekly performance in its ratio against ETH. For example, if the weekly matchup was AAVE-ETH vs SUSHI-ETH, whichever pair had the higher weekly gain/performance would be the round WINNER. “Voting” would be performed by simply providing liquidity to that pool of your choice, for each matchup (so in total, every month VOTER can select MAX 8 LPs for the tournament, one per matchup in Week 1 of the tournament. VOTER could also provide liquidity to the MIN of 1 LP, and hopefully that LP would make it to the end and be crowned CHAMPION. Your best odds of picking the CHAMPION would be providing liquidity to 8 of the 16 LPs, and thus have a 50% chance of being in the CHAMPION pool at the end.) VOTER would need to MAINTAIN LIQUIDITY in that pool for the ENTIRE MONTH, or would be disqualified from winning the CHAMPION MONTHLY REWARDS. However, VOTER can still withdraw liquidity as normal at any time, just not from the CHAMPION pool until the end if they want to be eligible for rewards. For example, if VOTER provided liquidity in 8 of the 16 LPs at Round 1, and by the Final Week, 1 of his 8 LP choices was still vying to be CHAMPION, VOTER just needs to continue maintaining liquidity in that 1 pool to be eligible for the CHAMPION MONTHLY REWARDS. This incentivizes holding assets, not selling for quick dollars. VOTER would do their research/due diligence on assets, understanding what they are, why they would perform better vs others. Ultimately, VOTER gets smarter about DeFi, and makes the Defi community that much better. VOTERS are not just chasing 2000% high APY numbers. VOTERS feel good about the assets they own, and would hold them proudly for 1 month (hey, even longer into the next monthly tournament!). If VOTER provided liquidity for the entire month to the CHAMPION LP, VOTER would be eligible to claim the CHAMPION LP REWARDS. REWARDS could be voted on how to be implemented (i.e. Extra Sushi, Extra Fee % Collected, Reimburse Gas Fees, all of the above, other, etc.)
Eliminated VOTERS for that month (VOTERS who did not select a remaining LP pool) could continue to participate in the form of CHEERING/DONATING. Eliminated VOTERS could root for others still in the remaining LPs by donating Sushi to an LP pool to “ROOT/CHEER” for the pool. All VOTERS in that LP Pool would share the donated sushi based on their % of owned liquidity.
In summary…in order for Sushiswap to remain one of the premier LP providers, we need to keep increasing market share. I think the Onsen Menu was a great idea. I’m worried some of the market share may dissolve once Sushi tokens go away/drop off in delivery. Most people chase the high APY (i.e. other LP platforms introduced recently), and this is mostly in the form of token rewards. Uniswap withstands this by being “first to market” and thus has “namebrand” status, higher volumes/liquidity. I think we as the Sushiswap community will need to continue to be creative with ways to bring in/maintain liquidity & volume.
Thanks for reading!!!
I have two things that I think would be good helpful additions to the Sushi protocol
Transaction batching on Sushi (I think that could add some user stickiness) Allow a user to create an list of thing that they want to do, say harvest their sushi, then move that sushi to stake, then enter an LP, once they had their sequence of transactions created, they could click execute. Essentially like a Sushi Macro? The idea here would be to save on gas for tx.
Allow users to automatically harvest and stake when the gas fee is below X. Basically, setting up a Sushi DRIP (Dividend Reinvestment Plan)
i like sushi sushiswap is best website sushi best defi best app everything the best forever
Unsure if this has been said before even though it must have been.
Transparency, Education & Visualization.
These three points can be huge differentiators - especially as more mainstream, less technical/experianced traders enter the market.
To incentive these new users it is vital Sushi embodies the previously mentioned qualities.
An example / proposed idea - Have an easily accessible LP calculator allowing users to quickly calculate various LP scenarios - ie. allow for them to see different outcomes given the underlying asset price movement - incorporating projected fees earned, divergent loss scenarios, and back end token value accrual.
I an LP could easily visualize these potential risk/reward - it would no doubt aid in continued adaption and increased LPing
Three improvements I have in mind below!
- Make the updates clickable. I can’t make the new update since the confirm button is out of view on the website. Look at my attached picture.
There is no way to click accept and update, please fix this bug.
Make tokens non validated so more unknown tokens can be supplied as in Uniswap. Ofcourse there are security and scam concerns with this that might offset this option.
Most urgently, spare my eyes, by making the website darkmode.
On this website my eyes hurt from all the white and i guess for most people. Uniswap has darkmode and I think this is more important than you can think.
One of the things I would love to be able to do in Defi is buy stocks. I have seen that projects that would allow staking of shares to participate in the purchase and sale commissions of the same, but it would necessarily be in CEX. I suppose bringing this to the Defi world would bring numerous technical and perhaps legal challenges.
I could not edit my original post
I wanted to post something that I’ve been discussing on Discord for a while
There have been a number of new listings that get routed incorrectly and bypass the sushibar. People go in and basically steal the funds instead of them going to xsushi holders
This got reported by defi news a few times (as a result of me bringing it up) and probably is over $1mm of funds that didn’t make it to the bar.
I’d like to suggest a permanent fix of developing something that allows the sushibar to claim non ETH pairs. Right now the “loophole” is that non-ETH pairs just get ignored by the bar and it routes the earnings to whichever is the largest pair. So for the Digg situation it was a digg / btc pair, which bypassed the bar and enabled theft of sushibar funds.
I love sushiswap and hope we continue the path we’re on to take over the defi space. So many great suggestions in the thread here.
My username on Discord is Monstar and my wallet is 0x09F1450607076bb1f20a10cFE933dbf5C666eF8c
Dark mode Sushi would be Amazing ! I usually use the web at night so dark mode would be a smart move.
First thing first a Dark Mode option would be sweet! 2nd would be to have a online merch store. And 3rd for my home run swinger recommendation is, I would like to see another Airdrop? i missed the first one last year, by one day! using metamask and swapping in Sushi. I would love to see what 1inch did, which anyone who made at least 3 trades using there metamask got the 2nd airdrop. My first one ever! Im a long time Sushi swap user and to be honest know nothing about the adding asset combos for farming? I just swap and swap using my meta mask buying Alts. I think a lot of people would benefit out of another round. Uniswap i feel has all the yes on it, and if Sushi did another airdrop, that would be another huge success and put the spotlight back on Sushi? LOve Me some Sushi, i will be you tubbing later to figure out how to do this add asset thing.
donations greatly appreciated for this single Sushi father of 2.