Proposal to launch SUSHI/USDC

Background

The SUSHI token is a governance token, governing the Sushiswap ecosystem. It is a Uniswap fork that has a very active community. Their recent roadmap is very ambitions and having partnered with yearn, they’re setting the stage for an explosive 2021.

Key Metrics

It’s a very actively traded token, and has been growing steadily in recent months.

After the crazy farming at the inception of the token, the number of addresses is gradually increasing again.

The token has a high inflation rate with most movements staying onchain.

It has a varied token distribution and should continue to distribute further as the token farming continues.

Other Metrics

In terms of open interest compared to other defi tokens, SUSHI is trading 4th behind ETH, LINK and YFI (14th overall), with a 24 hour OI of $50 million at the time of writing.

Source: Top 100 Cryptocurrencies by Open Interest-Bybt

Other Notes

With these kinds of volumes and community interest, it is a prime candidate for trading on the Perpetual Protocol. With a focus on long tail assets, SUSHI should be launched without delay.

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Thanks @knightsemplar for this in depth proposal! I’m personally really liking the stats we’re seeing here - would indicate a very strong group of potential traders

The movement from CEXes -> DEXes is also a super interesting pattern. Keen to see what everyone else’s thoughts on this are

I definitely support this. Sushi has high liquidity, high volume, and is overall a very sought after defi protocol

SUSHI has a very liquid spot market but little derivative exposure

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