Sushi Improvement or Modification to the Protocol SIMP Roadmap and Discussions #3
Attract and Maintain LPs
- Show upcoming pools (pools with high volume to liquidity ratios)
- Live Slippage and Price impact comparisons
- Expand our Competitive Pools, Historical LP earnings comparison with call to action to Migrate in one click
Attract and Maintain Trading Volume
- TradingView market comparisons - identify arbitrage opportunities between CEX and DEX (we actually currently have a one click swap and send function available in expert mode)
- More emphasis on Sushiswap Mobile (PWA or APP)
- Better support for Mobile Wallets
- Automated Trading (protocol improvements), TWAP
- Shorting UI utilizing BentoBox
- Stop Loss
Sushi Vesting (Proposed by LufyCZ)
Almost three months ago, we’ve agreed to vest ⅔ of newly minted Sushi for 6 months. There was no clear implementation of the vesting and it’s release, and it ended up being more of a workaround controlled by the multisig.
We’re slowly coming closer to the 6 month mark, which means that we start figuring out the distribution and it’s details.
Option #1: Airdrop the vested Sushi at the 6 month mark and get rid of the vesting. The transaction costs would be subtracted from the total airdrop amount, spreading the costs evenly between the receivers. The total number of vested Sushi at the 6 month mark should be ~ 47,040,732.
As of the day of writing (updated 19.1.2021), there are 11,368 addresses with non-zero vested Sushi balances. As we’re ~ 60% through the 6 month period, let’s get 100% of that - ~19,000. Airdropping 17,500 addresses would consume ~ 703,000,000 gas, which is ~ 56 full blocks, or ~ 14ETH at 20 gwei or ~ 35ETH at 50 gwei.
With today’s price of $7.2 / Sushi and $1400 / ETH, the cost would come out at ~ 2722 Sushi (at 20 gwei), respectively ~6834 Sushi (at 50 gwei), or ~ 0.14, respectively ~0.36 Sushi / address (some would pay more, some less depending on their share).
Option #1.1: Airdrop the vested Sushi monthly / bimonthly beginning at the 6 month mark (end of March) and get rid of the vesting. This would increase transaction costs a bit but at the same time would decrease the sudden inflation.
Using the figures from the previous calculations and using a linear increase in the number of users, the total costs would come around to ~ 9,550, respectively 23,909 total for a monthly airdrop.
Option #2: Using a similar approach to Balancer’s weekly claims, use a smart contract that would allow claiming every week / month. This would cost us almost nothing, but the receivers would have to bear much higher gas costs, possibly preventing smaller farmers from claiming their Sushi.
Claiming using merkle proofs is much more expensive compared to simply airdropping the tokens, but allows for a more flexible release schedule. Claiming a single week costs ~ 85,000 gas, and batching multiple weeks into one transaction saves ~ 45,000 gas per week (so it’s 85,000 + 40,000 for every week).
Claiming every week at 20 gwei at the ETH price of $1400 for six months (so 26 weeks) means spending 0.0442ETH ($61.88) at 20 gwei, or 0.1105ETH ($154.7) at 50 gwei.
Claiming everything after six months at the same parameters comes up to 0.0217ETH ($13.5625) at 20 gwei, or 0.05425ETH ($75.95) at 50 gwei.
Option #1+2 Airdrop vested balances under 1000 Sushi, use the smart contract approach for bigger balances.
Additionally, we would like to discuss the option of excluding big smart contracts (namely harvest.finance, dracula.finance and others) from receiving the vested Sushi. Instead, this Sushi would be spread among community members.
- Option #1
- Option #1.1
- Option #2
- Option #1+2