[Sushi] LTIPP Application - FINAL


Provide personal or organizational details, including applicant name, contact information, and any associated organization. This information ensures proper identification and communication throughout the grant process.

Applicant Name: The Core Teams from Sushi & Steer Protocol

Project Name: Sushi + Friends

Project Description: As the second oldest DEX, Sushi stands at the forefront of DeFi innovation.

Team Members and Roles: This proposal seeks to leverage Sushi’s vast network of partners to maximize the value we can collectively bring to the Arbitrum DAO. This proposal includes the core teams from Sushi & Steer, but the Sushi team will primarily drive it.

  • [Sushi] David Wilson - Chief Information Officer
  • [Sushi] April Wong - Head of Marketing
  • [Sushi] Jiro Ono - Core Developer and Head of Operations
  • [Sushi] Truda Hamzik - Sr. BD Manager
  • [Sushi] Ali - Business Development
  • [Sushi] Jared Grey - Head Chef
  • [Steer] Derek Barrera - Steer Protocol/CEO
  • [Steer] Deepak Gupta - Steer Protocol/COO
  • [Steer] Sam Feintech - Steer Protocol/Head of Growth

Project Links: Sushi: https://www.sushi.com/

Contact Information

Point of Contact (note: this should be an individual’s name, not the name of the protocol): David Wilson

Point of Contact’s TG handle: @captaingeeky

Twitter: @Sushiswap

Email: contact@sushi.com

Do you acknowledge that your team will be subject to a KYC requirement?: Yes

SECTION 2a: Team and Product Information

Provide details on your team’s past and current experience. Any details relating to past projects, recent achievements and any past experience utilizing incentives. Additionally, please provide further details on the state of your product, audience segments, and how you expect incentives to impact the product’s long-term growth and sustainability.

Sushi has been at the forefront of DeFi and has one of the most Active engineering teams in the space based on GitHub data. As one of the first partners in the Arbitrum ecosystem, Sushi has a long history of incentive programs targeting growth and adoption on this network. In the past, we have used Sushi’s inflation to fund these incentives which have been instrumental in the growth of Arbitrum. Sushi wants to continue this by using the LTIP and partners to target specific areas where it will be most effective in the promotion of LP and volume. This will foster the growth of these partners in the Arbitrum ecosystem and at the same time provide direct utility to the DAO via increased sequencer fees from the increase in volume, and utility of the network via the expansion of the projects built on top of it.

Team experience (Any relevant experience that may be useful in evaluating ability to ship, or execution with grant incentives. Please provide references knowledgeable about past work, where relevant. If you wish to do so privately, indicate that. [Optional, but recommended]):

One of the oldest engineering teams in DeFi.

BD and exec team with a track record of working with some of the best protocols on Arbitrum.

What novelty or innovation does your product bring to Arbitrum?

We are targeting quality projects to help foster growth through innovations in DEX infrastructure.
*Decentralized Exchange Aggregator, DEX Cross-Chain Swap,Smart Liquidity pools

Is your project composable with other projects on Arbitrum? If so, please explain:

As a liquidity hub, we provide direct utility for any tokenized project on Arbitrum. We help these projects to be more usable by giving access to efficient markets that their users can interact with.
We encourage projects building on top of sushi’s liquidity hub

Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains?

Competition in the DEX space is healthy. There are several large examples of protocols that provide similar services. Uniswap, Trader Joe, Ramses, WOOFi, Balancer, Camelot, Curve, Pancakeswap, and other

How do you measure and think about retention internally? (metrics, target KPIs)

Retention can be measured by comparing the cost of acquisition to the longevity of the targeted action. This along with volume metrics allows us to assess the overall performance of incentives and estimate the retention long term. Long term we intend to provide a dashboard to make a public resource to track the various useful metrics.

Relevant usage metrics - Please refer to the OBL relevant metrics chart 59. For your category (DEX, lending, gaming, etc) please provide a list of all respective metrics as well as all metrics in the general section:

Daily Active Users: A time series metric representing the daily count of unique addresses interacting with the protocol’s contracts.

Daily User Growth: A time series metric representing the daily user growth (in addresses) interacting with the protocol’s contracts.

Daily Transaction Count: A time series metric representing the daily number of transactions interacting with the protocol’s contracts.

Daily Protocol Fee: A time series data representing the daily total protocol fee generated. For example, swap fees, borrowing fees, etc., comprising all economic value generated through the protocol, contracts, apps, etc., by users.

Daily Transaction Fee: A time series, daily total transaction fees generated daily by interactions with the protocol’s contracts.

Daily ARB Expenditure and User Claims: Data on individual ARB incentive claim transactions made by users, as incentivized by the protocol. It should include the timestamp, user address, and the claimed ARB amount. The spent ARB will allow for the normalization of growth metrics.

Incentivized User List & Gini: The list should include users incentivized by the protocol along with their performance metrics. For instance, if trading volume is incentivized, this would be a list of traders with their respective trading volumes. If liquidity providers are incentivized, it would include a list of LPs and their liquidities in USD. Protocols should also strive for more uniform engagement levels across a wide user base for long-term sustainability, which will be measured through a gini coefficient across reward recipients.

For each asset/trading pair:

TVL: A daily time series expressed in USD.

Trading Volume: A daily time series, also measured in USD.

Market Depth: Only applicable for order books and V3-style DEXs, this represents the active liquidity in USD, positioned within a +/- 2% price range for incentivized pools. It can be viewed in the liquidity tab as an example.

Price Impact: Ratio of the difference between the execution price and the spot price to the spot price for each trading pair, expressed as a percentage. This measures how much the price of an asset changes due to a specific trade.

List of Traders: A comprehensive record of addresses or entities engaged in trading activities. This list should include trader addresses and the volume of trades executed.

List of Liquidity Providers: A compiled list of current and past participants per pool who have provided liquidity during the incentivized period of the protocol. The list should include LP addresses, their current liquidity in USD, time-weighted liquidity in USD, and the duration of liquidity provision.

Do you agree to remove team-controlled wallets from all milestone metrics AND exclude team-controlled wallets from any incentives included in your plan: Yes

Did you utilize a grants consultant or other third party not named as a grantee to draft this proposal? If so, please disclose the details of that arrangement here, including conflicts of interest (Note: this does NOT disqualify an applicant):All contributors have been named above in the team list.


Provide details about the Arbitrum protocol requirements relevant to the grant. This information ensures that the applicant is aligned with the technical specifications and commitments of the grant.

Is the protocol native to Arbitrum?: We are a multi-chain Dex Launched on Ethereum Mainnet expanded to Arbitrum May 2021

While the creation of the Sushi DEX was before that of the Arbitrum One network, it has been one of the largest chain deployments by metrics of transactional volume and unique individual users. As mentioned, it was the first DEX to launch on Arbitrum, starting from block 70. After two years and counting, Sushi continues to support Arbitrum as a flagship deployment even as we’ve continued to expand upon our cross and multi-chain thesis. Much of our volume and TVL originate from the Arbitrum ecosystem, and we have been staunch supporters of Arbitrum DeFi since its inception.

On what other networks is the protocol deployed?: Sushi is deployed across nearly 30+ chains and supports cross-chain swaps across 7 chains, with more planned additions coming online soon.

Cross-chain swapping and trading on Arbitrum directly connects with other chains such as Avalanche, Optimism, BNB chain, Base, and Polygon. This creates a frictionless way to encourage the deployment of liquidity from these other networks onto Arbitrum.

Uniquely Sushi provides an aggregation service for the Arbitrum ecosystem allowing seamless inbound liquidity. The following chains are currently supported with more within 2024:
Ethereum, Arbitrum, Optimism, Polygon, Avalanche, and BNB Chain, Base

On our website, you can find a complete list of deployments (https://sushi.com).

What date did you deploy on Arbitrum mainnet?: Arbitrum Transaction Hash (Txhash) Details | Arbiscan

Do you have a native token?: Yes, Breaking down the Sushi Tokenomics | Sushi

Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable?

To date, Sushi has distributed 575,000 Sushi tokens as rewards to chain builders and liquidity providers on Arbitrum. 135 Billion total trade volume. This dashboard from launch shows the effects with sushi directly with the incentives and growth on Arbitrum. Sushiswap: Chain Dominance | zackmendel | Flipside

Current Incentivization: How are you currently incentivizing your protocol?

Sushi is currently utilizing Angle’s Merkl product for reward distribution.

Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related program? [yes/no, please provide any details around how the funds were allocated and any relevant results/learnings(Note: this does NOT disqualify an applicant)]

Sushi was a recipient of the Arbitrum airdrop but has not received any additional funding through grants.

Protocol Performance: Second oldest DEX with over $268 billion in cumulative volume since inception.

  • The first major DEX launched on Arbitrum with $27.4 billion in cumulative volume and $50.4M in fees since launching on the chain.
  • Only major DEX will support Arbitrum Nova with $22.9M in cumulative volume and $1.69M in TVL.
  • Peak TVL of $600M on Arbitrum One and $3.52M on Arbitrum Nova, still the largest TVL on Nova.
  • Presently, Sushi is the 9th most prominent dApp on Arbitrum & the top dApp on Arbitrum Nova.

Protocol Roadmap: Besides continually innovating our cross-chain swaps and seamless onboarding to Arbitrum and its initial foundation phases, Sushi focuses heavily on making liquidity providing simple and easy. By utilizing innovations from both Steer and Merkl, liquidity management and rewards efficiency will be increased dramatically. In addition, Sushi is currently expanding its R&D capabilities.

Key Items:

  • Increase the ratio of efficiently managed pools compared to TVL.
  • Continuous updates to our cross-chain swapping mechanism to support more bridges and chains
  • Constant updates to route optimizer and aggregation capabilities for best user experience

Audit History & Security Vendors: Sushi has operated for over three years and has undergone many audits via our audit partners, Zellic, Peckshield, and CertiK.

Security Incidents: [Has your protocol ever been exploited? If so, please describe what, when and how for ALL incidents as well as the remedies to solve and mitigate for future incidents]

Exploit: Route Processor 2
Postmortem: Link


Detail the requested grant size, provide an overview of the budget breakdown, specify the funding and contract addresses, and describe any matching funds if relevant.

Requested Grant Size: 1.2M ARB Tokens

Justification for the size of the grant

Sushi is one of the world’s largest and most distributed decentralized exchanges and has operated since DeFi began in 2020. We have led the way in numerous game-changing innovations across DeFi, from developing the concept of liquidity mining to being the first DEX to launch cross-chain swaps and aggregation to payment streaming and novel pool types; we are often imitated but rarely duplicated. Sushi currently supports both v2 and v3 concentrated liquidity pool types. Additionally, we’ve partnered with Steer Protocol and Angle Merkl to provide automated liquidity management tools and customizable rewards for concentrated liquidity offerings. Furthermore, the Sushi DEX features an industry-leading routing and aggregation engine that can power swaps across multiple aggregators, ensuring minimal slippage and maximum speed.

Sushi has long contributed to the Arbitrum ecosystem and was the first major DEX to launch on the chain. In addition, our presence as a cross-chain protocol has benefited Arbitrum greatly due to our cross-chain swapping capabilities. Over one-third of our cross-chain swap volume comprises users from an origin chain to Arbitrum. This cross-chain swap feature was among the first bridges on the network, significantly contributing to Arbitrum’s early growth by allowing users to enter the ecosystem seamlessly. Furthermore, Sushi has been a longtime proponent of the Arbitrum ecosystem through in-person events and novel rewards programs and was one of the largest receivers of the Arbitrum airdrop earlier this year.

We’re committed to leveraging the allocated grant of 1.2M ARB tokens to bolster the development of projects thriving within the Arbitrum ecosystem. Our primary focus lies in driving specific metrics to enhance liquidity support. To achieve this, the budget will be strategically allocated across various categories. Through our robust partnerships, we aim to foster growth by maximizing liquidity through smart pools, ensuring efficient utilization of resources.

The ecosystem growth fund plays a pivotal role in incentivizing builders to adopt Arbitrum and Sushi infrastructure, thereby stimulating user engagement. One of the key advantages of allocating an LTIPP to Sushi is the extensive outreach and partnerships we maintain. By allocating resources to assist partners in expansion efforts, while concurrently enhancing liquidity in primary utility pools, we create a conducive environment for the growth of builders and projects. This results in an overall increase in utility for Arbitrum, driving its growth trajectory forward.

Grant Matching: [Enter Amount of Matching Funds Provided - If Relevant]

Grant Breakdown: Sushi will allocate the granted ARB tokens as liquidity incentives over 90 days (from receipt) to the categories listed below.

Distribution Total Arb % of Total Reason
Liquidity Mining for Blue chip Asset pairs 400K 33.33% Strengthen Arbitrum’s core liquidity by reinforcing blue-chip pools, ensuring higher trading efficiency, and reducing slippage.
Concentrated Liquidity Mining Incentives for New Token Liquidity 450K 37.5% Encourage and support new, innovative projects to deploy on Arbitrum and bring other ecosystem tokens via Layerzero,Axelar, integration further diversifying the ecosystem offering.
Liquidity Mining Rewards for Existing Token Pairs (V2) → (V3) 50K 4.17% Facilitate the smooth transition of Existing pairs from v2 to v3, ensuring continuity and maintaining the strength of Arbitrum’s ecosystem.
Sushi Marketing Initiatives 100K 8.33% * Incentivize active trading on sushi and enhance the network’s transactional liquidity, Galaxe campaign engaging users from all sushi ecosystem promoting community engagements & activities on arbitrum
Sushi Ecosystem Growth Fund 200K 16.67% Incentivizing Users through protocols building on top of sushi swap v3 liquidity pairs eg: Stryke (Former Dopex)
Total 1.2M 100%

Funding Address: 0x978982772b8e4055B921bf9295c0d74eB36Bc54e

Funding Address Characteristics: Sushi Operational Multisig, 3/6 multisig

Treasury Address: Treasury Address: Zapper Wallet Link

Contract Address: Merkel distribution contract

  • 0x3Ef3D8bA38EBe18DB133cEc108f4D14CE00Dd9Ae

*** Arbitrum Ops wallet:**

  • 0x978982772b8e4055B921bf9295c0d74eB36Bc54e


Clearly outline the primary objectives of the program and the Key Performance Indicators (KPIs), execution strategy, and milestones used to measure success. This helps reviewers understand what the program aims to achieve and how progress will be assessed.


  1. Increase TVL : Launch targeted marketing campaigns and incentives to attract liquidity providers, focusing on popular pairs and competitive yields.
  2. Boost Volume & Transactions: Organize promotional events, trading competitions, and partnerships to stimulate trading activity and enhance user experience.
  3. Enhance Sequence fee Encourage liquidity providers to stake assets in high-demand pools through yield farming and fee-sharing mechanisms.
  4. User engagement & Adoption: Promote user engagement and adoption across platforms by fostering cross-community interaction

Execution Strategy: Sushi’s overall strategy is a total distribution of all grant tokens across the platform via liquidity mining incentives toward our v3 pools. We are leveraging our integrations with Steer, Merkel, and Algebra to streamline the management of v3 pools and the commensurate rewards for LPs.

Blue Chip Mining Incentives on Arbitrum v3 Smart Pools - 400K ARB

As one of the oldest and most established DEX’s in DeFi, Sushi already has significant liquidity across the arbitrum ecosystem, majority of liquidity on arbitrum primarily exists around the non-blue chip pairs, as we have a combined of $6M in Blue chip pair currently spread across $5M in inefficient v2 pools & $1M in v3. We look forward to attract >$10M new liquidity directly onto Blue chip V3 liquidity over the course of the LTIP program, V3 allows Efficient trading range shift as price changes

We aim to deploy the majority of this grant to the Existing pools :


Concentrated Liquidity Mining Incentives for New Token Liquidity Pairs - 450K ARB

Onsen is a product developed by Sushi that allows for introducing protocols to the Sushi ecosystem through dual incentives. Farming incentives allow Sushi to incentivize liquidity provision to select strategic projects within our ecosystem while providing partner projects a way to bootstrap their liquidity. Previously, Onsen pools relied on arbitrary rewards assigned by Sushi to each pool, which resulted in difficulty scaling and poor transparency of the process to our community. In the new model for Onsen, we have standardized the process for projects applying for and receiving Sushi rewards to their pools while making the overall flow less extractive to the Sushi business and more sustainable long term for our LPs. Projects transitioning their operations and assets from another blockchain to Arbitrum are incentivized through Arbitrum’s v3 pools using smart pools and Merkl rewards.

In addition to boosted pool rewards, Onsen applicants will gain access to our full suite of marketing and GTM resources to maximize awareness and coverage for accepted projects.


  • Origin chain: Arbitrum (LST,LRT, Governance Token, DeFi Blue Chip, LSD Backed Stable Coins Ex…)
  • Minimum Liquidity Threshold: $100K
  • Tokens: Specific cryptocurrencies or assets the project deals with.
  • Duration: Length of time the project commits to retaining its liquidity on Arbitrum.
  • Reward Structure: Incentives exclusively disbursed through v3 pools, motivating participants to bring and maintain liquidity.
  • As part of our standard diligence for Onsen, we ensure that projects have been audited and serve an actual use case.

Liquidity Mining Rewards for Existing Token Pairs (V2) → (V3) - 50K ARB

As part of our ongoing token migration initiative from inefficient V2 to more effective pools, we will incentivize existing V2 pool token holders to migrate to smart pools. This transition aims to maximize trading fee generation and capture heavy trading volume. However, we recognize the challenges associated with V2 to V3 migration, especially regarding incentivization. Therefore, we have significantly reduced our grant request to 50K Arb tokens, to be distributed over 90 days, for experimentation purposes. This funding will facilitate the conversion of existing V2 liquidity and foster new liquidity generation, driving growth within the ecosystem.Majority of our liquidity on arbitrum $12Million LP exist on MAGIC/ETH pair

We aim to deploy the majority of this grant to the following pairs once creation of new v3 Pair:

MAGIC/ETH (Old V2 pool) → MAGIC/ETH (V3 Pool)
SUSHI/ETH (Old V2 Pool) → ETH/SUSHI (V3 Pool)

Marketing Initiative - 100K ARB

Sushi has consistently championed community engagement and user participation as pivotal components of decentralized financial ecosystems. Thus, we conduct trading competitions to incentivize retail users and liquidity providers (LPs) within the Arbitrum network. These competitions robustly encourage cross-chain trading activities, fostering a rich, interconnected liquidity environment across various chains and cementing Arbitrum’s status as a focal point for vibrant DeFi activities. By instituting trading competitions, we not only incentivize trading and liquidity provision on Arbitrum but also subtly facilitate user familiarity with our cross-chain swapping mechanism, thereby gently nudging liquidity from other chains towards Arbitrum, fortifying its liquidity depth.

Duration: 3 months, bifurcated into two rounds.

Budget: 60K ARB, evenly distributed at 20k per round to ensure sustained engagement.

  1. Top Traders Leaderboard:

Criteria: Based on trade volume
Prize: Majority of the 20k (e.g., 20k) distributed among top performers.

  1. Lucky Draw:

Criteria: Any participant with at least 10-20 trades. LP onto sushi selected Token pairs

Selection: Randomly chosen from eligible traders.

Prize: The remaining amount from the 40k (e.g., 5k) gets split amongst lucky winners.

Moreover, our collaboration with Questly fortifies our commitment to seamless execution and fair play by enabling impeccable setup, judicious tracking, and equitable prize distribution throughout the competition. This multifaceted approach, interweaving both merit and luck, aims to provide a fair, engaging, and inclusive environment, sparking intrigue among a wide array of traders and LPs, thus fortifying Arbitrum’s liquidity and trading volume while simultaneously offering a potent avenue for users to become acquainted with and benefit from Sushi’s offerings on the Arbitrum network.

Sushi Ecosystem Growth Incentive - 200K ARB

This fund is aimed at increasing SushiSwap’s Total Value Locked (TVL), increasing trading volumes by incentivizing users through partner protocols integrated with SushiSwap’s v3 hooks and attract new users by collaborating with protocols native to Arbitrum encouraging protocols to develop products that utilize SushiSwap’s TVL, maximize fees for liquidity providers (LPs), and boost transaction volume, thereby contributing to Arbitrum chain sequencer fees.

One of our partner protocols, Stryke (formerly known as Dopex), is an Option Automated Market Maker (AMM) protocol. Stryke accepts Concentrated Liquidity Automated Market Maker (CLAMM) positions (e.g. SushiSwap v3) for option liquidity, unlocking inactive capital while offering superior yields compared to standard DEX LPing via CLAMM and generating higher transaction volume. Additionally, Stryke accepts single-sided cross-collateral staking, enabling liquidity providers to earn option premiums with hedged downside exposure.

Stryke has achieved a notional volume of over $150 million within 150 days of launch, with $27 million in March (as of 17th march and $24 million in February. With this partnership, we aim to further expand and target new LPs to provide liquidity on SushiSwap

Source: Defillama - Stryke

What mechanisms within the incentive design will you implement to incentivize “stickiness” whether it be users, liquidity or some other targeted metric? [Provide relevant design and implementation details]

Specify the KPIs that will be used to measure success in achieving the grant objectives and designate a source of truth for governance to use to verify accuracy.

Tactic 1: Shift Blue-Chip and Stable Liquidity to More Efficient v3 Pools
Sushi and Steer Protocol are collaborating to streamline the migration of liquidity from v2 to v3 pools on Sushi. The move, incentivized by enhanced rewards in v3 pools, aims to provide better Annual Percentage Yield (APY) and yield opportunities than the existing v2 pools. The specific tactics involve employing Steer Protocol’s automated tools to mitigate the complexity in transitioning to v3 pools, thus aligning liquidity with precise price ranges and optimizing both capital efficiency and yield in a user-friendly manner. These actions will subsequently embed stability and growth within the Arbitrum ecosystem.

Tactic 2: Enhance Liquidity for Existing Arbitrum Partners & Onboard New Token pairs
The grant allocation towards establishing a dedicated fund is a strategic tactic to supercharge liquidity for existing Arbitrum partners. We will tailor and deploy liquidity incentive programs, amplifying liquidity mining rewards for token pairs related to Arbitrum partners. This practical measure will enhance token accessibility and mitigate trading friction, strengthening the overall liquidity and usability of the Arbitrum network.

Tactic 3: Grow the Arbitrum User Base and Support Native Project Growth through Sushi’s Onsen Program.
The grant will fortify the Onsen Program, positioning it as a crucial tool for expanding the Arbitrum user base and bolstering native project growth within the Sushi ecosystem. Tactical execution involves deploying farming incentives to strategically chosen projects, enticing liquidity provision within our ecosystem. Further, the Onsen Program will provide a platform for partner projects to foster their liquidity by tapping into the resources and community support facilitated by Sushi. We will meticulously review all engagements with prospective projects to ensure user safety and project legitimacy before channeling resources and support.

In Summary:
We will formulate action-oriented strategies to utilize the grant to promote immediate and sustained growth within the Arbitrum ecosystem. They intertwine structured liquidity management, enhanced partnership support, and targeted user and project growth in a coherent, actionable plan designed to dynamically fortify and expand the Arbitrum ecosystem.

Grant Timeline and Milestones: Sushi will deploy the entirety of granted Arbitrum over 90 days from receipt of funds and will be distributed per the allocation breakdown as detailed above. The funds will be allocated to the defined sections, and the incentive distribution will begin immediately. Metrics for liquidity mining will be available from day 1. The ecosystem growth fund depends on partnerships, and so the milestones will be staggered based on the individual projects, and common metrics for overall effectiveness.

**How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem? [Clearly explain how the inputs of your program justify the expected benefits to the DAO. Be very clear and tangible, and you must back up your claims with data]**Sushi has a long-standing history of supporting networks at their earliest stages. It was one of the first protocols to pioneer the concept of using liquidity mining incentives to help grow liquidity within ecosystems. This proposal aims to incentivize liquidity movement from inefficient v2-style pools to v3 concentrated liquidity-style pools across blue-chip & stable pairs, existing network partners, and ‘net new’ projects coming to Arbitrum, helping increase overall TVL and volume on-chain, providing users with optimal UX and low slippage rates when trading Arbitrum tokens.

Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your stream? Yes

SECTION 5: Data and Reporting

OpenBlock Labs has developed a comprehensive data and reporting checklist for tracking essential metrics across participating protocols. Teams must adhere to the specifications outlined in the provided link here: Onboarding Checklist from OBL 48. Along with this list, please answer the following:

Is your team prepared to comply with OBL’s data requirements for the entire life of the program and three months following and then handoff to the Arbitrum DAO? Are there any special requests/considerations that should be considered? We are prepared to accept and provide the data requirements.

Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard? [Please describe your strategy and capabilities for data/reporting]

The metrics for each incentives product will be tracked with a weekly report, that will be used to generate a program update bi-weekly. Data collected by us and our partners will be instrumental in measuring the effectiveness. The items with the largest effect on performance will be TVL, Volume, and new address on boarding. We also intend to monitor the effect this has on encouraging liquidity migration for ETH or other L2s.

*First Offense: In the event that a project does not provide a bi-weekly update, they will be reminded by an involved party (council, advisor, or program manager). Upon this reminder, the project is given 72 hours to complete the requirement or their funding will be halted.

Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.

Third Offense: Funding is halted permanently

Does your team agree to provide a final closeout report not later than two weeks from the ending date of your program? This report should include summaries of work completed, final cost structure, whether any funds were returned, and any lessons the grantee feels came out of this grant. Where applicable, be sure to include final estimates of acquisition costs of any users, developers, or assets onboarded to Arbitrum chains. (NOTE: No future grants from this program can be given until a closeout report is provided.): Yes

Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?: Yes


Hello @Sushi,

Thank you for your application! Your advisor will be SeedLatam Gov @SEEDGov

Please join the LTIPP discord and ping your advisor in the general chat so they can create a new channel and start communicating with you.


Let’s get to work! We are waiting for you at discord

1 Like

This seems like the largest ask so far so i’m going to bring in some hard Qs for you.

Commanding the request for a 3m ARB DAO grant is significantly more than what DEXs received in the STIP. The justification of being a legacy DEX seems quite obsolete, when the offering today has little impact on shaping the ecosystem that has been built in recent times. Why do you truly think you are justified to receive the ARB DAO grant of 3m ARB tokens?

Further, the big issue here is ~50% of the ask is directed almost entirely to a few pairs, with exactly 33% of the ask is being put into a Uniswapv3 fork ETH/USDC pool … This is basically the Arbitrum DAO funding a Sushi DEX resurgence?

What value does Sushi bring on a product and user level over existing DEXs that are popular and if the value from the products is there, why has Sushi not found a more relevant place?

Lastly, what does Sushi do with Protocol Revenue taken from pairs in the Uniswapv3 LP, if i remember seeing this the SushiBar was closed and all protocol revenue accrued goes to the treasury.


The Sushi team is shamelessly seeking additional allocation while retaining the ARB airdrop designated for the Sushi DAO in their operational wallet without utilizing it for an extended period. Furthermore, individuals raising inquiries about this and other governance matter have been banned. The governance forum has been deleted along with several posted snapshots (live+ ended) which was either passed or had majority support. Does this match Arbitrum DAO ethics?



I strongly recommend that you do not waste your time considering this proposal.

The Sushi team no longer represents the sushiswap DAO.
Since this week, the Sushiswap team has:

  • Deleted the forum and all traces of debate
  • Deleted snapshots voted by the community

Since months, the Sushiswap team :

  • Doesn’t execute snapshots voted by the community

Additionally, last year they publicly asked Arbitrum to send the airdrop to their address ( they still have $9,000,000 of that airdrop), and not to the Treasury Multisig Address:

It’s the same address mentioned in their post :

And if you don’t believe it, ask them to create a community vote via snapshot.org, and watch the results.

Thank you.


SushiBar was closed for a year (almost 14 months in fact), but all protocol revenue was accrued by the team multisigs wallets. Contrary to the team own proposal and the DAO vote not a cent was sent to the Treasury. At the moment SushiBar is open again (since late January) and 90% of the revenue should be distributed among xSushi holders. At the moment all Sushiswap V3 pools protocol fees (on all chains, including Arbitrum) are under the control of one EOA address - 0xf87BC5535602077d340806D71f805EA9907a843D)


So the Sushi treasury accrued nothing and everything went to the team wallets directly?

1 Like

Yes, the Treasury accrued nothing, all protocol fees went to wallets controlled by the team - Operations multisigs or EOA addresses (for the fees from V3 pools). I am not implying that the owners of those EAO addresses are using the collected fees for personal gain. Most likely, at some point, they will send the collected fees to Operations (team) multisig wallets. But the fact is that the Treasury got nothing, though - according to the proposals and the votes - it was supposed to get all protocol fees.

1 Like

Update since my previous message :

  • The forum is back online, with all archived post, which is a good move from the Sushiswap Team.

There remains only the major problem which is the non-execution and deletion of snapshots.
It’s a big problem and that’s why I continue to say that they don’t represent the community.

I dare to hope that the stakeholders will find an agreement.

In the meantime, it would be better to put this proposal on hold ( which I think the proposal can be beneficial for Sushiswap ) but not in the current conditions.

1 Like

@cliffton.eth Could you please change the title to FINAL

Hey there this proposal has been updated to show that it is FINAL. All the best!

1 Like

Don’t, don’t, don’t.

Sushiswap shamefully diverted the airdrop into their own ops multisig instead of the treasury multisig.

Look at what they did with it: nothing at all, the community did not benefit from it.

Rekt talked about it : Rekt - Something Smells Fishy

Instead, more funds were diverted elsewhere. The Arbitrum airdrop ended up in the Sushi Ops Multisig on Arbitrum. SushiSwap even thanked Arbitrum in a post, which ended up being 4.25M ARB.

Nothing at all? Hardly a fair statement seeing as how they are active participants in governance: Snapshot

And ? For the community ? Nothing.

In any case, it is nothing more and nothing less than a misappropriation of money, because the airdrop was supposed to go into the Treasury multisig.

It sounds like you’re upset that you didn’t receive the airdrop as more free money given out by Sushi to their community :thinking:

1 Like

You are making a huge mistake. I don’t need any free money.

I simply wish, like a large part of the Sushi community, that the airdrop was redirected to the address of the Treasury Multisig, as it should have been.

The current Sushi team no longer represent the DAO, and frees itself from any snapshot. Read the other comments.

Or, more simply, ask Sushi to take a snapshot.

There is a strong probability that the money potentially allocated by this Grant will end up in one way or another, in the medium term, in Jared’s pocket.

Don’t, don’t, don’t.

Don’t know what Marty’s reasons are, but what we should look at is how Sushiswap Team is managing grants. Here is a link to their request for an Optimism grant - [READY] [GF: Phase 1] Sushi - Part 1 - Governance Fund: Phase 1 - Optimism Collective
The request was approved and Sushiswap Team got 504000 $OP - OP Mainnet Transaction Hash (Txhash) Details | Optimism
As you can see from their request, Sushiswap Team had to use this grant only for incentivising LP and the whole amount of OP should have been distributed within one year. 486 days later only 60K of the grant are distributed to liquidity pools and the incentives were deprecated long ago. 444000 OP are kept by the Team multisig wallet. You can also notice that in their request Sushiswap Team is promising the launch of new features on Optimism (Kashi lending, Limit orders, MISO launchpad, Trident Stable pools, etc). Kashi, Limit orders and MISO were never launched (not only that, but these features were deprecated on all other chains), Trident Stable pools were launched, but recently Sushiswap announced that they are deprecating Trident pools across all chains.
So what guarantees we have, that Arbitrum Grant won’t have the same fate as the Optimism one?

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@SeriousTaylor You should DYOR about what the current sushiswap’s team did with previous grants :wink: