Conversation

1) Some thoughts on

forum.sushi.com

[Withdrawn] Sushi Phantom Troupe - Strategic Raise

Rationale: As part of the broader Treasury Diversification plan, we propose that a portion of the ~51m SUSHI that is currently being held by the Sushiwap Treasury be used to onboard institutional...

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2) I'm not involved in the raise. You can hear some of my thoughts here:

The Sushi Forum Episode 38

The Sushi Forum is a weekly podcast intended to cover the news, proposals and ecosystem developments for the Sushiswap Community. The calls are held live eve...

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3) First of all, I think the process has been really messy. I think doing a raise is a good idea. But given the hassle likely involved from negative feedback, I might not follow through; I'm not sure this fight is worth fighting.

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4) Why might it be good? Because some VCs are really connected and influential and knowledgeable and smart. Some VCs will fucking fight for you. The second are the ones you want; if they're also in the first group, even better.

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5) Why might it be bad? It's a hassle, and some VCs are useless, and it costs discounts.

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6) So how would _I_ have designed this? First, given the PR issues, I think that selling at market price + adding on 1:1 options with a $12 strike price and 5 year expiry is the right move. Without PR issues, maybe just a 25% discount.

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7) Who would I give allocation to? This is hard, but: First, I would talk to each prospective one, and filter out ones I wasn't excited by. Then, I'd reach out to 10 founders I trusted, and give them an anonymous poll on the VCs.

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8) How much size? I'd say something like: --$10m each for the top 5 from the survey --$1m each for 6-15 --another $10m total for the community, first come first serve

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9) I'd require each investor to promise to write up at least one public post/tweet thread/etc. per quarter for the next 4 years which had both: a) updates on Sushi for their general audience b) a list of things they were working on/helping with

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10) Some light feedback for some VCs -- One of the most important criteria for a founder is: which VCs are most excited about what we're doing? Think about your pitches in that light.

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11) And finally, some light feedback for the community-- Remember that everyone is different, and that's true of VCs as well. Keep that in mind, and consider whether positive or negative generalizations are justified.

1:50 PM · Jul 16, 2021Twitter Web App

@ShiningforceNL

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Just stop dumping mr tier 1 farmer. Me familia.

PowerPuffTrades

@powerpufftrades

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and

if we are headed into a bear market, these things can be implemented, uif the bull market is going to continue this would be too little too late as the majority of VC's have the same if not lesser image to their counterparts in legacy.

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and

When thread on your failure to get Sushi on Solana and why that didn't work out?

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and

then the way to do this without pissing everyone off is open up some part of the deal to the community, with some similar conditions, this way everyone is happy $SUSHI

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@karl_imaginues

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Look how the community reacted to this. There is a reason why founders often do not open this stuff up to retail. VCs can bring value, retail often just brings "wen up" comments and hassle.

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and

Quote Tweet

Sushi should sell token + call option package. This is exactly what @kevinchan2020 and I proposed on the call yesterday, before Sam jumped on. Here’s the proposal for how you can use @UMAprotocol to do this today (we are calling this a “Success Token”) forum.sushi.com/t/sushi-phanto

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unroll

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Bonjour, here is your unroll: 1) Some thoughts on forum.sushi.com/t/sushi-phanto… 2) I'm not… threadreaderapp.com/thread/1416032 Have a good day. 🤖

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Thread by @SBF_Alameda on Thread Reader App

Thread by @SBF_Alameda: 1) Some thoughts on forum.sushi.com/t/sushi-phanto… 2) I'm not involved in the raise. You can hear some of my thoughts here: 3) First of all, I think the process has been...

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