Sushi Legal Structure [Implementation]

This proposal’s expectation is to produce an implementation. Full details and discussions thus far can be found at:

https://forum.sushi.com/t/recommendation-for-sushi-legal-structure/11158

Synopsis:

Sushi has engaged legal counsel to provide advice regarding the planning & execution of Sushi’s legal structure. Based on the previous discussions of Sushi organizing an entity framework for the DAO & products.

After several months of discussion, the below structure will be implemented with the passing of this snapshot:

1. A Cayman Islands foundation (“DAO Foundation”) will be formed to administer the SushiDAO IRL. The DAO Foundation will have a governance council that has the flexibility to administer the Sushi on-chain governance process and facilitate off-chain activities.

   • The DAO Foundation will be able to (among other things):
     • Administer a treasury
     • Administer grants
     • Administer on-chain governance process
     • Facilitate proposals
     • Facilitate voting

2. A Panamanian Foundation (“Panamanian Foundation”) will be formed to administer the existing Sushi protocol (including smart contracts related to the AMM/orderbook, Kashi and staking).

   • The Panamanian Foundation will enter into a services agreement with service providers to assist with developing the protocol.

3. A Panamanian Corporation (“Panamanian Corporation”) will be formed to operate the GUI layer (front-end) of the protocol.

   • The Panamanian Corporation will be a wholly-owned subsidiary of the Panamanian Foundation.
   • The Panamanian Corporation will enter into a services agreement with service providers to assist with developing and maintaining the GUI layer of the protocol.

• The DAO Foundation and the Panamanian Foundation and Corporation will enter into service agreements with service providers which will be selected via proposal at a later date.

More information and discussion can be found in the forum post attached to this snapshot.

TLDR:

Steady lads, Sushi Legal Structure is on the wei