Cryptocurrency assets management firm Arca has strongly objected to the Phantom Trope proposal of SushiSwap. Earlier last week, SushiSwap pitched its Phantom Troupe proposal as part of its broader Treasury Diversification plan.
Calling it a “strategic raise”, the proposal aims to use 51m SUSHI coins in the SushiSwap Treasury to onboard institutional investors. Community member 0xMaxi said that this move will help to strengthen SushiSwap’s position as a DeFi blue chip.
However, Arca, which is one of the biggest investors in SUSHI has strongly objected to it. Jeff Dorman, the CIO at Arca has called the Phantom Troup proposal “value-destroying”. He stated that “Arca will backstop a new proposal with a first tranche bid price 31% above current TWAP price.”
Arca believes that flooding more coins in the market just to woo institutional players will evaluate the price of SUSHI which isn’t good for the existing investors. Furthermore, the crypto investment firm believes that SU

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Źródło: https://coingape.com/arca-strongly-objects-to-sushiswaps-phantom-troupe-proposal/