The SushiSwap community has initiated a "governance reform" proposal, suggesting to restore governance power to the DAO

ChainCatcher news, the SushiSwap community recently initiated a "governance reform" proposal, suggesting an immediate halt to Kanpai 2.0 and a return to the previous model, where 100% of the fees will belong to xSUSHI stakers. It proposes to start using SUSHI tokens for direct democratic voting on all new implementations and proposals, to hold elections for a new management committee for SushiSwap, and to draft and implement a decentralized governance charter that supports the development of SushiSwap into a DAO. Let the DAO take control of its own destiny to gain a larger market share, trading volume, and new tokenized designs.

The proposal states that since the launch of Kanpai 2.0 in December 2022, the SUSHI token has lost its primary purpose of collecting generated fees, with 100% of the fees now going to the treasury. Additionally, the issuance of SUSHI tokens is nearing its end, with the remaining issuance plan set to conclude (November/December 2023). While this may help ensure the treasury receives funds, token holders have lost a significant portion of utility, and governance has been at best ineffective. Since the launch of Kanpai, the limited new features or updates implemented by the Sushi core team, along with the guaranteed funds generated by this proposal, have severely lacked community engagement and interest. Over the past two years, Sushi's total fees, TVL, and active users have all seen a significant decline, which may be due to the weaknesses of the initial tokenomics or turbulent governance, but in reality, SushiSwap has shifted from a DAO to a treasury-focused operation.