Proposal: Whitelist SushiSwap (SUSHI) with 200k BNT Coinvestment

Proposal to Whitelist SushiSwap (SUSHI) with 200k BNT Coinvestment

This proposal is expected to appear on Snapshot for voting on Monday 31st May 2021 at 4:00 pm UTC.Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.


  • Proposal to whitelist SushiSwap SUSHI.
  • Co-investment of 200,000 BNT.
  • There are no apparent security concerns that would prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the SushiSwap project. The SUSHI team includes Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading start-up Alameda Research.
  • The benefit to Bancor is clear. A pool with SUSHI will bring SUSHI holders to Bancor.

Token Address: 0x6b3595068778dd592e39a122f4f5a5cf09c90fe2

Project Website:

Deepest SUSHI pool is SUSHI/ETH on SushiSwap with a $485,911,790.85 liquidity. Uniswap SUSHI/ETH pool has a $1.04m liquidity.

Token Security

SUSHI does not have an elastic supply, or rebase mechanism. The SUSHI ERC-20 contracts do not have permissions that grant administrators unrestricted mint/burn capabilities.

SUSHI is a capped-supply token with a total supply of 250,000,000 tokens and circulating supply of 127,244,443 SUSHI. The top 15 contracts and addresses with the highest concentration of SUSHI tokens are the token vesting contracts, Binance, Houbi and OKEx.


SushiSwap (SUSHI) is an automated market maker, launched in September 2020 as a fork of Uniswap and aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.

The platform takes a 0.3% cut from transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights.


SUSHI is a governance token that enables community governance over the Sushi ecosystem. This means that SUSHI holders can use their tokens to vote for platform proposals to further ecosystem initiatives.

The SUSHI token can be farmed by participating in the yield farming program on

The SUSHI token may also be staked across various platforms such as Sushi’s very own, SushiBar, or can be used as collateral on platforms such as Sushi’s Yearn ecosystem partner, Aave. When SUSHI tokens are staked, users receive xSUSHI in return. xSUSHI holders receive 0.05% of each and every swap completed on!

Community and Communication

SUSHI is active on Reddit and Discord. The SushiSwap team also operates official Twitter and Medium accounts. Github activity is frequent.

Available Audits

The SUSHI ERC-20 token contract is a standard OpenZeppelin contract. The SUSHI contracts have been audited by Peckshield, Quantstamp and others.

Market and Trading Data

  • SUSHI’s price at the time of writing is $11.05.
  • All-time high: $23.38 (13th Mar, 2021).
  • All-time low: $0.4737 (4th Nov, 2020).
  • Price 90 days ago: $15.64.
  • 127,244,443 tokens in circulation.
  • 250,000,000 maximum supply.
  • The current market capitalization is $1,423,324,017.
  • The SUSHI token is available on major exchanges, including Binance, Coinbase, FTX, Houbi, OKEx,, Kucoin, Uniswap and Sushiswap.
  • The 24-hour 10 top spot volumes range from $48,543,321 (Binance SUSHI/BTC) to $205,982,980 (Binance SUSHI/USDT).

Like 1INCH, this is an obvious addition. We should have every relevant ETH token on Bancor and this is about as safe as it gets.


I’m not sure. Won’t Sushi holders just stake on Bancor for fees but trade on Sushi?

Some might, but to LP here exposes them to Bancor and some may stay. It’s in our best interest to be a one-stop-shop which means having every token available. The LM rewards for UNI were not helpful so I oppose that for Sushi as well but it costs us little to coinvest with a token like Sushi.

As a huge supporter of both projects, I approve. Just not sure sure how much LP we will get. My Sushi is staked in the bar, and not sure I will move it over, so I am torn on how liquid this will really get. LM may end up attracting more liquidity, so I would be in favor a 12 weeks LM period too (like we did UNI). In the long run, I’d like to see more collaboration with the SUSHI community. Feel like there is a lot of great synergies between the two projects.

This is the reason that led me to draft the proposal.

Definitely agree, we shouldn’t look at competitors with a “us vs them” mentality. Collaboration and competition are healthy for the crypto space.

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