Sushi (SUSHI) — Governance Rights Report

Vol. I, No. 1 Thursday, October 29, 2026 Sushi — Governance Rights Report

Verdict

Sushi

SUSHI — Governance Rights Report

Tier 4 S1 — Token-Governed Protocol Assessment as of 2026-10-01

GSA-1 fail GSA-2 fail GSA-3 fail GSA-4 fail GSA-5 near-miss GSA-6 fail GSA-7 fail GSA-8 fail

Why this rating: Snapshot signaling + multisig execution with no economic rights — a loyalty point even after the 2025 Foundation/Labs restructure. 2025 governance overhaul (Foundation + Labs) added structure but no hard token rights

2025 governance overhaul (Foundation + Labs) added structure but no hard token rights

Where to Vote

Snapshot space: sushigov.eth

Live proposals

SUSHI Tokenomics Restructure: SUSHI Reserve, Revised xSUSHI Buybacks, and Protocol-Deployed Liquidity Deployment to Robinhood Chain [Implementation]

Voting closes September 3, 2026

Proposal History

Proposal	Title	Outcome	Closed
0x2e6df9d02d…	SUSHI Tokenomics Restructure: SUSHI Reserve, Revised xSUSHI Buybacks, and Protocol-Deployed Liquidity Deployment to Robinhood Chain [Implementation]	Passed	September 3, 2026
0xf41c3c6def…	SUSHI Tokenomics Restructure: SUSHI Reserve, Revised xSUSHI Buybacks, and Protocol-Deployed Liquidity Deployment to Robinhood Chain [Signal]	Passed	August 25, 2026
0x26fad0eda6…	MasterChef LP Migration to V3 + Protocol-Deployed Liquidity [Implementation]	Closed	January 29, 2026
0xa7f0caa483…	MasterChef LP Migration to V3 + Protocol-Deployed Liquidity [Signal]	Closed	January 21, 2026
0x9c4dd678c4…	Increase SUSHI Annual Emissions Rate (AER) for AMM Liquidity, Listings & Private Capital Deals [Implementation]	Passed	December 21, 2025

History from the Institute scanner and the 2026-08-31 recheck pulls (Snapshot Hub GraphQL / OpenSquare). We mark outcomes from recheck determinations where the proposal is named; otherwise we show the recorded state.

Metrics

Curated metric — next quarterly update. We have not yet wired on-chain revenue, treasury, and distribution-enforcement reads for this DAO's space into the Institute's state files. The quarterly re-assessment cycle will populate this block.

Structure & History

Structure: S1 — Token-Governed Protocol.

S1-S5 protocol business structure taxonomy, as-of 2026-08-27 (structure taxonomy date); scores as-of 2026-10-01 (first scored 2026-07-23; quarterly recheck #2, cycle 2026-08-31 -> 2026-10-01)

2026-10-01 recheck — what changed

Tokenomics restructure PASSED 2026-09-03 (5 voters, 1.8% of supply): xSUSHI buybacks capped at 1% of fees — buyback remains a governance promise, not a hardcoded route; GSA-3 fail confirmed, margin widened

First scored 2026-07-23; rechecked 2026-10-01.