Despite the heated debate, it seems possible to take the SushiSwap group’s treasury

A controversial proposal by the team behind the decentralized exchange to change SushiSwap's treasury structure looks set to go ahead despite opposition to the proposal on social media.

The SushiSwap team made a controversial management proposal on March 26 to “significantly improve sushi by adopting the Labs model.”

It aims to restructure the existing organization to “increase operational efficiency and accelerate protocol development”.

However, the DAO-controlled Sushi Treasury includes a controversial Tokenomics upgrade aimed at deploying Sushi Labs' assets — 25 million tokens worth an estimated $42.5 million.

“We request that Sushi Dao donate 25 million Sushi Tokens to Sushi Labs, including funds from Arbitrum Airdrop, Business Development and Partner Grants, Kanpai 2.0, Sushi 2.0, Rewards, Stable Coin, and “Sushi House” funds.

“The revisions include a single issue of 25M tokens to Sushi Labs and a 1.5% APR (baseline) to strengthen liquidity, encourage participation and strengthen the treasury,” he added.

In the current tokenomics model, there is a maximum supply of 250 million SUSHI tokens.

Additionally, Sushi Labs will be the exclusive beneficiary of future airdrops awarded by protocols and partners.

Voting began on April 3 and ends on April 10. So far, about 29 million sushi tokens have been pledged, more than enough to reach a quorum.

Voting for both results has been in favor of ‘Yais' until recently.

Currently, only one third of the vote – 9.7 million tokens – is against the proposal.

Among the whale voters is the Sushi Labs group, which submitted the proposal and pledged 5.5 million tokens in support. A key opponent went under the address ‘sushicitizens.eth' and pledged 4.4 million SUSHI.

Former Sushiswap contributor Naeem Bubziz reported in early March that the group had attempted to get 4 million SUSHI from a treasury multisig after they voted for themselves using the protocol's multi-signature wallet.

There were also allegations that the Sushi Group took out loans to vote for their own ideas. On April 4, Bubziz said they “borrowed money for a few hours to double their voting power for snapshots.”

Sushi ‘head chef' Jared Gray defended critics in an April 8 post on X that Sushi Labs added liquidity just before the vote and then removed it, deleting snapshots and voting with multiple sig ops addresses. .

“After consulting our legal counsel, I instructed the operations team to conduct a YAY vote on the OPs bag and belongings due to the threat of enemy raids,” he said.

Related: Community on SushiSwap exploit: $3.3 hack ‘amazing'

A decentralized exchange protocol is no stranger to power struggles. Sushi Swap launches past industry leader Uniswap in 2020 following a vampire attack.

However, the fake founder ‘Chef Nomi' is said to have tried to pull the rug out from under the protocol soon after it was mired in controversy, infighting and internal chaos.

Sushi tokens were trading at $1.70 at the time of writing, down 93% from their peak three years ago in March 2021.

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