SushiSwap team wants to kill DAO to benefit themselves

A new governance proposal for SushiSwap proposes moving the assets from the ‘DAO’ controlled treasury to a new ‘Sushi Labs’ and will make sure that all future airdrops are directed to the ‘Labs’ instead of the ‘DAO.’

The funds the proposal would transfer to the new entities are effectively the entire treasury for the project. However, the proposal also seems to include assets that aren’t included in the ‘Treasury’ wallet listed on the governance page for SushiSwap. Indeed, the proposal lists both 168 ether and 1,228 ether, but the wallet in question only seems to contain 168. Additionally, it doesn’t seem to contain any of the Dai or WBTC mentioned in the proposal. 

Screenshot of asset transfers described in the proposal.

Furthermore, this proposal intends to “empower Sushi Labs with exhaustive and sole operational responsibility for core product development.”

This comes a little over a month after Naïm Boubziz, formerly associated with SushiSwap, took to X to highlight that the governance forum for SushiSwap had been deleted. This was followed by a change to the DAO, which made it so only core team members could create new proposals.

This change apparently included removing snapshot votes, which were challenging the treasury management of the Sushi team.

More recently, Boubziz took to X to criticize the new proposal, claiming that it was intended to “kill the DAO.” 

Read more: MakerDAO could back a billion Dai with Ethena’s ‘synthetic dollar’ USDe

The signal vote on this proposal currently has approximately 93% of participants voting ‘Nay.’ The vote will run until April 9. Despite the large proportion of votes against this idea, there is also a snapshot pending that covers the ‘implementation’ of this proposal, scheduled to begin voting on April 9.

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