SushiSwap - A decentralized exchange for all blockchains

SushiSwap (SUSHI)

What is SushiSwap?

SushiSwap is an Automated Market Maker (AMM), which copied the source code of Uniswap and then made a few changes. The main difference was the addition of staking benefits, a feature that attracted a lot of users and impacted Uniswap’s liquidity. In the following months, Uniswap and other AMM decentralized exchanges added the staking feature following SushiSwap’s model.

Why does SushiSwap have value?

SushiSwap started off poorly due to trust issues and the fact its creators were anonymous. However, the protocol’s operations were later taken over by the community and it has grown to be one of the top decentralized exchanges. The potential rewards, both from staking and liquidity providing, make it attractive to users and investors. Plus it is available on a variety of chains including Ethereum, Binance Smart Chain, Fantom, and more.

What are the benefits of SushiSwap?

●       It supports hundreds of Ethereum and Binance tokens.

●       SUSHI can be staked for profits.

●       Providing liquidity also offers revenue.

What are the disadvantages of SushiSwap?

●       Transaction fees are high.

●       The exchange can seem complicated versus competitor’s.

●       Potentially not as secure as their primary competitor Uniswap.

What are SUSHI’s tokenomics?

The maximum supply of SUSHI is set at 250 million. With each new Ethereum block, the protocol creates 100 tokens that are rewarded to stakers.

Who founded SushiSwap?

Chef Nomi.

Who are SushiSwap’s investors?

Unknown.

Concise Crypto Grade:

B  :SushiSwap is one of our favorite decentralized exchanges. It’s undergone some changes in terms of leadership, but we believe it’s now better off being run by the community. New chains are being introduced and SushiSwap has talked about integrating with Stargate allowing it to be used to swap between blockchains. The future looks bright for SUSHI.

Where can I buy SUSHI? Binance, Huobi Global, Coinbase Exchange, FTX, Gate.io, KuCoin.

What ecosystem does SushiSwap run on?

Ethereum, Binance Smart Chain, and Fantom