Controversial Sushi DAO Treasury Proposal Passes Signal Vote

A controversial Sushi DAO governance proposal — involving the transfer of more than $40 million in DAO-controlled treasury assets to a new Labs model — has passed an initial community signal vote. Voting concluded earlier today, with 62.5% in favor of the proposal. As a signal vote, the proposal was designed to indicate whether or not the change in structure should progress. An implementation vote is already underway, with 83% currently in favor, scheduled to conclude on April 17. The proposal has been heavily criticized, however, with SushiSwap Compensation Committee member Naïm Boubziz alleging the core development team created fresh wallets ahead of the vote to increase the team's voting power.

Read the full story at The Block.