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Sushi Boosts Treasury to $30.6M After Kanpai Implementation

SushiSwap Head Chef Jared Grey said the protocol increased its Treasury holdings to about $30.6 million with a burn rate of around $5 million per annum.

When Jared Grey took over as Sushi Head Chef on Oct. 3, he disclosed that the previous administration mismanaged the DAO’s resources and plunged the protocol into a $30 million loss.

In efforts to boost Sushi’s Treasury, the DAO approved Grey’s Kanpai proposal, which was designed to return 100% of xSUSHI revenue to the Treasury.  Additionally, Grey reduced the DAO’s budget to $5.2 million from $9 million per annum.

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