Market stats
+4.89%
51% of total supply
SushiSwap (SUSHI) is an Ethereum token that powers SushiSwap, a decentralized cryptocurrency exchange and automated market maker built on Ethereum. Holders of SUSHI can participate in community governance and stake their tokens to receive a portion of SushiSwap’s transaction fees.
You can use Sushiswap to trade one cryptocurrency for another directly — it can’t be used to trade fiat for crypto or vice versa. It uses the Automated Market Maker model pioneered by Uniswap.
You can connect your crypto wallet to Sushiswap at app.sushi.com
To add liquidity, users send equal-value amounts of two cryptocurrencies to SushiSwap. In exchange, they receive Liquidity Provider (or LP) tokens and begin receiving rewards.
Users can deposit their newly created LP tokens into yield farms to earn further APY rewards. This creates extra incentive for users to continue to be part of the liquidity pool over time.
Users of Ethereum-based apps like SushiSwap have to pay transaction fees (also called gas) that can vary widely in price and can make it expensive to use the network. DEXs have a range of risks, so do your research. “Impermanent loss” can result from pairing a more volatile cryptocurrency with a less volatile one in a liquidity pool. Bugs in smart contracts can be exploited. And anyone can create a token, so watch out for “rug pulls.”
Released: August 2020
The anonymous founder of decentralized exchange protocol Sushiswap is set to step aside, according to a well-placed source. The post Project lead behind $2.8 billion DEX Sushiswap is set to step down appeared first on The Block.
A variety of blue-chip DeFi tokens have taken flight over the past 24 hours, and the reasons behind the gains are just as varied.
After unveiling a development and management proposal for the project last month, the shoyunft.com is now live. The post SushiSwap unveils website for its yet-to-launch Shoyu NFT platform appeared first on The Block.
After a SushiSwap-hosted auction of tokenized shares in the original Doge image, the NFT is now valued at more than $225.3 million. The post Fractionalized Doge NFT valued at $225 million after SushiSwap auction appeared first on The Block.
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