Amidst intense discussion, the possibility of SushiSwap team treasury takeover appears imminent.

Despite facing opposition on social media, the team behind the decentralized exchange, SushiSwap, appears to be moving forward with a controversial proposal to change the platform’s treasury structure. The proposal, made on March 26, aims to evolve SushiSwap by adopting a Labs model and restructuring the organization to enhance operational efficiency and accelerate protocol development. However, the proposal includes a tokenomics overhaul that has received criticism. It plans to transfer around 25 million tokens worth approximately $42.5 million from the decentralized autonomous organization (DAO)-controlled Sushi Treasury to Sushi Labs. The revisions also introduce a 1.5% APR to strengthen liquidity and incentivize participation. Currently, SushiSwap has a maximum supply of 250 million SUSHI tokens. Sushi Labs will also become the sole beneficiary of future airdrops from protocols and partners. Voting on this proposal began on April 3 and will conclude on April 10. The majority of votes have been in favor of the proposal, with only 9.7 million tokens lodged against it. Notably, the Sushi Labs team, who made the proposal, pledged 5.5 million tokens in favor, whereas a key opponent pledged 4.4 million tokens against it. There have been allegations that the Sushi team took out a loan to vote for their own proposal, and it has been claimed that they manipulated the vote by adding and removing liquidity. Sushi’s “Head Chef,” Jared Grey, defended the team against these accusations, stating that they voted with the OPs wallet due to a potential hostile takeover threat. SushiSwap has experienced power struggles and controversy in the past, including a rug-pull attempt by its founder, “Chef Nomi.” Currently, SUSHI is trading at $1.70, significantly lower than its all-time high in March 2021.