held SUSHI for a while and ended up looking way deeper into the staking than i expected

not a buy post. token is still crushed from old highs and i know the market has reasons for that

but here’s what stood out to me

you stake SUSHI and get xSUSHI. Sushi uses a portion of fees from certain pools to buy back SUSHI and that value goes back to stakers. so it’s tied to actual trading activity, not just random token emissions

they’ve also done huge cumulative volume over the years across many chains

yet it still gets priced like a dead project while random tokens with no track record can run hard off a story

and yeah i get the bear case. competition is brutal. governance drama happened. TVL way below peak.…