The sushi treasury multisig currently has 15k xSUSHI and 11.6M SUSHI.
Just around 0.155% of the usd value is staked which seems super low if staking some of the treasury’s SUSHI is a goal (I don’t know if it is).
If followed most treasury discussions here in the sushi forum (ref: Treasury portfolio - A suggestion for Diversification; Conduct token swap with OlympusDAO; and the now famous Sushi Phantom Troupe - Strategic Raise) and have gone through the sushi docs but couldn’t find any info on the current treasury split between xSUSHI and SUSHI allocation of the multisig.
My initial guesses of what the reasoning for the current split may be:
Guess: Staking a lot more would drive down APY on xSUSHI which would be a disincentive for other SUSHI holders to stake (thereby raising liquid SUSHI supply which in theory could drive down price);
1.1 Counter: The total amount of SUSHI currently staked is 88M [ref 1], which is 8 times the amount of SUSHI on the treasury multisig. Because of this, any amount of SUSHI the multisig would stake wouldn’t meaningfully dilute the APY.
Guess: Possible fear from the community from the treasury multisig gaining too much voting power with more SUSHI staked.
2.2 Counter: This one seams relatively easy to solve by simply abstaining (or even perhaps delegating like a16z does) additional voting power.
I think I may be lacking context and/or missing something so I’d love some pointers, any comments or info on this topic from the community!