Thank you for seeking the next step in sustainability and responsible token emissions. We could not be more excited to discuss Sushi Bonds with you!

Sushi Bonds, developed through a partnership between Bond Protocol, Serious People, Steer Protocol, and Sushi, offers an innovative solution in liquidity mining. This model allows users to buy tokens at discounted rates, fostering sustainable liquidity and minimizing reliance on short-term providers. Additionally, it features Protocol Owned Liquidity (POL), a key element where token projects collect quote tokens (like ETH, USDC) from bond sales, creating a liquidity pool that supports trading activities and market stability on Sushi, thereby enhancing Sushi's overall liquidity ecosystem.

Serious People Ideology

Serious People is a nimble team of DeFi sustainability experts. We pride ourselves on simplifying intricate DeFi concepts and cutting through noise to provide actionable recommendations. We believe if the space is going to mature that we need to shift our focus from short term returns to long term value. Efficiency of token emissions has remained stagnant over the past five years, leaving ample room for improvement. At Serious People, we adopt the M.E.T.A. and improve from there - guaranteeing our partners are using the most effective products on the market at all times.

Our values include a genuine love for collaboration and a foxy mindset, challenging industry norms and championing sustainability in DeFi. We accomplish this through rigorous research and analysis of the DeFi market, allowing us to respond to unique problems with proactive, data driven solutions. We are constantly looking for new problems and the best solutions for them. Managing a token is like running a second protocol, Serious People is here to relieve that pressure, creating more time to focus on building.

Underwriting Analysis

<aside> 🚨 [CALLOUT if CMC data is different from CG - otherwise nuke]

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Inflation Score (Supply Based)

• Explanation: This score focuses on how many tokens are being emitted, how those emissions are being used, and how many tokens there are left to emit (click ► to learn more).

<aside> 💡 Result: Weak - calculated ~1.2% of total supply / month

Calculations: Token deployed on Arbitrum 280 days ago n = 280/30 = 9.33 20,000,000 / 1.0568 ^ 9.33 = 11,944,751

Annualized inflation of 120% according to CoinGecko 90 day data —> 320M to 420M (CONFIRM ON CALL as CMC/CG are typically wrong)

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Protocol Owned Liquidity Score

• Explanation: This score shows how much decentralized liquidity a protocol owns compared to how much it should own (click ► to learn more).

<aside> 💡 Result: Weak

$1-2M of owned liquidity according to client response

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Volume Score

• Explanation: This score shows how much volume a token is seeing in comparison to other tokens of similar market caps (click ► to learn more).

<aside> 💡 Result: Very Strong

$28,000,000 / day (90 day average on CoinGecko) - 27%

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Decentralization Score

• Explanation: This score shows how much decentralized liquidity a protocol has compared to how much they should have (click ► to learn more).

<aside> 💡 Result: Very Strong

Seeing ample liquidity on PCS V2 (BNB Chain) and Balancer (Arbitrum). Total buy side liquidity: $27,140,000

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Diversification Score

• Explanation: This score shows how well your treasury is diversified (click ► to learn more).

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Result: Weak

The treasury is still heavily weighted in native tokens, but does have $1M ETH + $908K of USDC + $313K of USDT + $1.26M ARB.

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