Proposal to change Sushi's denomination to a lower amount like Shib

Summary

gm

I am sure most of you have seen the meteoric rise of dog coins like Shib and Klee in the recent months as compared to the mediocre price action of Sushi. I plan to help Sushi have a fighting chance by introducing methods of getting extra liquidity and let us have the same price action potential as dog coins.

Abstract

It is common social psychology that tokens with a smaller price denomination garner more popularity as proven by dog coins price action compared to tokens like YFI. This can be simply solved by changing the supply numbers to be a lower amount to attract investment from advertisements made on TikTok and Reddit.

Motivation

As you might have already known, 3AC has recently exited their Sushi position and Arca has sold off 50% of their position too. This sell pressure from institutions is contradictory towards their public bullish opinion of Sushi but that is not related to this proposal. With the changing of denominations, this can be countered as explained below.

Specification
Currently, Sushi has a 250 million hard cap. I propose to change this to 250 billion such that the current price of Sushi is 0.0001070. The staking rewards etc does not change, just the denomination.

This is just a suggestion, I am open to hearing ideas if you think 250 trillion (similar to SHIB) is better.

For

Instant buy pressure from Tiktok and Reddit. Please do not underestimate the funds that retail has as can be seen in Shib and Doge. I have a few marketing ideas and will push them out immediately if this proposal gains support. With this, we are also able to market Sushi as Defi 2.0, I am sure marketers reading this know what I mean and the potential price action we may see.

Against
Logistics e.g have to collaborate with CEXes to change the denomination.

Reference for 3AC and Arca:

idk how it works but i only have 5k sushi but snapshot requires 20k sushi to make a poll there. hopefully this gains traction here and someone does a poll there

open to hearing criticism but please give rationale as to why not a good idea thank you

Poll

[poll]
- stay the same denomination
- change to a similar denomination like SHIB
[/poll]

idk how to create poll it doesnt show up on settings but someone in core team plz make snapshot

1 Like

Adding poll

  • Stay the same denomination
  • Change to a similar denomination like SHIB

0 voters

1 Like

<3

creating proposal for mods in discord to have higher pay later

this is huge! we should seriously look into this amazing idea.

I know it’s not exactly the same since it’s not directly listed on a CEX, but that’s basically the point about how Meowshi is designed.

Honestly it sounds like a bad idea to me to shift tokenomics like that just to psychologically encourage people to gamble in. It really doesn’t change anything fundamentally about the project or add anything tangible. People who are chasing penny stocks like that aren’t generally the wisest investors and the whales gaming it will have a fun time dumping on them, I think.

5 Likes

MEOWSHI is here to help with that. And Zap has a good point on retail investors who are looking to purchase fractional cent tokens. I don’t see this as a need for focus. MEOW will offer the small denomination, and will also grow against xSUSHI with strategies from the BentoBox.

2 Likes

@0xVega - first of all, welcome!

Thank you for taking the time to express your views and belief in a token with smaller denominations.

Great callouts around the departures of large funds and exists, we have been tracking similar movement’s.

While we agree with the underlying sentiment that there is a massive opportunity to drive new retail interest , we disagree in a shift in SUSHI’s tokenconomics to drive this. Many investors in smaller tokens are disillusioned by the promise of hitting $1.00 - to do so it would require gargantuan market caps, larger than BTC and ETH. Instead of 1000x SUSHIs market cap, we must identify easier ways to encourage ownership and participation of retail investors.

The question is how to achieve this through marketing incentives - traditional finance has leaned into this retail engagement and done so in new ways.

Charles Schwab. Have you seen their ads during football games and major sporting events? While fractionalization is not yet appropriate for SUSHI, it is unique approaches to ownership such as this.

Are we able to bring similar marketing to SUSHI? As we continue to monitor governance and forum activity, proposals advocating for marketing spend are surprisingly rare. SUSHI’s treasury would be able to support a campaign like this and would see strong ROI in terms of new user acquisition.

You acknowledge the power of retail investors here :

Where is the best channel and community to to target these type of investors? Is it TikTok and Reddit? Or is it elsewhere - in crypto we seem to own Discord and Telegram yet underestimate the sheer numbers and buying power outside of these communities.

As more and more DeFi giants enter and continue to grow, marketing is a great way to cement SUSHI as an industry leader. Changing token economics is not the solution - but creative ideas are.

Our team at Flipside would love to help drive these initiatives forward.

1 Like

That is a great Idea, to confirm you are dedicated and serious about it, I will exchange for your 5k sushi the shiba/doge coin in their numerals for $0.0000073. Let me know if interested we can cement this for posterity on the chain. Upon request if you agree I will provide the address you can deposit your sushi too and you should provide yours and I will deposit the agree amount. Thank you.