SushiSwap (SUSHI)

Last Updated: 09/06/2022

What is SushiSwap (SUSHI)?

SushiSwap (SUSHI) is an automated market maker (AMM). AMMs are decentralised exchanges that use smart contracts to create markets for any given pair of tokens, a desired tool among cryptocurrency users.

SushiSwap launched as a fork of Uniswap in September 2020. Uniswap is an Ethereum (ETH) based decentralized exchange which allows its users to both supply liquidity to earn passive income or exchange between various assets. The AMM that has become a part of decentralized finance (DeFi) movement and associated trading boom in DeFi tokens. SushiSwaps goal is to diversify the AMM market and add additional features not previously available on Uniswap, such as increased rewards for network participants via its native token, SUSHI.

Sushi is a community-driven organization built to solve what might be called the “liquidity problem.” One could define this problem as the inability of disparate forms of liquidity to connect with markets in a decentralized way, and vice versa. The platform takes a 0.3% cut from transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights.

Team

Little is known about the founder of SushiSwap who identified himself as a pseudonymous entity – Chef Nomi. The project has two other pseudonymous co-founders, sushiswap and 0xMaki, also known as just Maki. Between them, they handle SushiSwap’s code, product development and business operations.

More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading start-up Alameda Research.

Roadmap

August 2020 - MasterChef Contract Launch – Mainnet Launch
September 2020 - Liquidity Migration + Private Key Democratization - FTX CEO Sam Bankman-Fried begins the liquidity migration, where around $800 million worth of LPs tokens are used to drain value from Uniswap. After the migration, Uniswap returned to about its previous level of volume. Later, the SushiSwap community votes via Discord to create a multi-sig key to the SushiSwap contract.
December 2020 - Merger with Yearn - SushiSwap joins a growing list of DeFi protocols partnered with Yearn.Finance.

Partners

Where to Store SushiSwap (SUSHI)

Options to keep your SushiSwap (SUSHI) secure and offline can include the leading hardware wallet provider Trezor. All ERC-20 tokens including SushiSwap (SUSHI) can be stored on the Ethereum blockchain using MyEtherWallet, allowing users to interact with the network without additional software.

An alternative wallet provider for SushiSwap (SUSHI) token holders can be Trust Wallet – a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Popular among traders and gamers, the beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.

Similarly, a user-friendly option to keep your $SUSHI secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting your MetaMask wallet.

Always conduct your due diligence and research into any wallet provider you consider.

Where to Buy and Sell SushiSwap (SUSHI)

You can Buy & Sell SushiSwap (SUSHI) by heading over to the Buy Coins page of our website. SushiSwap (SUSHI) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $SUSHI has never been easier, simply place your order and provide your wallet address. Once your payment arrives SushiSwap (SUSHI) will be sent directly to your wallet.

If you choose to Sell SushiSwap (SUSHI) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

SushiSwap (SUSHI) Resources

Website: https://www.sushi.com/

Block Explorer: https://etherscan.io/token

Github: https://github.com/sushiswap

Twitter: https://twitter.com/sushiswap

Medium: https://sushichef.medium.com/

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.