Governance token concentration (Gini)
Sushi (SushiSwap) — v2 + v3 + Trident + BentoBox/Kashi + SushiXSwap's assessment for RD-F-047 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Gini coefficient not computed (Dune unavailable). Concrete evidence of high concentration: in April 2024 treasury vote, Ops Multisig wallet voted 5.5M SUSHIPOWAH (~19% of 29M total votes), constituting the largest individual voting block. Critics alleged the team also borrowed liquidity to inflate voting power pre-snapshot. This is structural governance concentration risk with documented evidence.
Sources #
- URLControversial Sushi DAO treasury proposal — The BlockThe Block — controversial treasury proposal passed signal vote; 62.5% in favorretrieved 2026-05-17
- SushiSwap treasury vote sparks controversy — CryptopolitanCryptopolitan — Ops Multisig voted 5.5M SUSHIPOWAH, largest individual voter at ~30% of votes in favorretrieved 2026-05-17
Methodology #
Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.
See the full factor methodology and distribution across all protocols →