What is Sushiswap?
Sushiswap is a defi protocol that came up to improve the defects of Uniswap. In DEX, the liquidity provider bears much weight. For glitchless trading in various cryptocurrencies, a plethora of deposited cryptocurrencies must be present in DEX.
On Decentralized Exchanges, liquidity provider refers to a user who stake their crypto holdings to validate transactions and in return earn rewards. The liquidity providers play a substantial role in the platform’s growth. There is a fixed fee of 0.3% for swapping tokens on Uniswap and that fee is split between liquidity providers for their contribution to the liquidity reserves of the Exchange.
On the other hand, Sushiswap also charges 0.3% fee for swapping tokens on the platform but instead of distributing all among contributors. Sushiswap only distributes 0.25% of the charged among stakers while the remaining 0.05% is directly split among all the holders of the SUSHI tokens.
Sushiswap Reward
In Sushiswap, liquidity mining is rewarded by the system. The DEX liquidity provider gets rewarded by staking the Uniswap token receipt earned through providing liquidity. Such a policy allowed sufficient Sushiswap liquidity by bringing Uniswap liquidity to Sushiswap. The following procedure is how you can earn rewards by providing liquidity to Sushiswap.
| (1) | Receive a token like ETH-USDT UNI-V2 LP by providing liquidity at Uniswap. |
| (2) | Log onto Sushiswap.org and link your Ethereum wallet that has the earned token, such as Metamask. |
| (3) | Deposit the LP token provided at Uniswap to Sushiswap. |
| (4) | Receive the Sushiswap reward |
History of Sushiswap Coin
SushiSwap was founded in 2020 by an anonymous individual, Chef Nomi, who wanted to create a decentralized exchange (DEX) that would be open to everyone. The idea behind the project was to develop a platform for users to trade and invest in various cryptocurrency assets without the need for a centralized authority.
The platform was first launched on August 24th, 2020, and quickly gained traction in the DeFi space. In the first 24 hours, SushiSwap attracted over $1 billion in liquidity and became one of the most popular DEXs in the market.
Emergence in the market:
Since then, SushiSwap has grown to become one of the leading decentralized exchanges in the world. The platform offers multiple trading pairs, automated market making, yield farming, and staking rewards. The native token of the platform is Sushi (SUSHI). SUSHI is used to pay fees, pay rewards, and govern the protocol. The token is currently listed on major exchanges and can be used to trade and invest in various cryptocurrency assets.
Another unique feature of SushiSwap is its ability to optimize a token’s liquidity based on market conditions automatically. SushiSwap uses an automated market maker (AMM) to adjust the liquidity of tokens based on demand. This ensures that users always have access to the best liquidity on the platform.
Since the initial launch, the platform is rapidly growing due to its user-friendly interface and AMM mechanism which distinguish it from other decentralized and centralized crypto trading platforms. The platform has also created multiple programs, such as the SushiSwap Accelerator Program, which helps with the launch of new platforms on the exchange, and the SushiSwap Grants Program, which provides funding for projects that are still under-development and does hold a bright future.
What is Sushi Token?
SUSHI Token is the native token of the SushiSwap platform, a decentralized exchange (DEX) built on top of the Ethereum blockchain. It is designed to help decentralize the DeFi (Decentralized Finance) industry.
The SUSHI Token serves several functions, such as giving holders a say in how SushiSwap is run and providing liquidity to the platform. The token also incentivizes users by rewarding them with a portion of the trading fees collected by the DEX, which can be staked to increase rewards.
The SUSHI Token is an ERC-20 token, meaning it is built on the Ethereum blockchain. It is available for trading on various exchanges and can also be purchased with fiat currencies. The Token has a fixed supply of 250 million SUSHI coins, whereas th current circulating supply of the coin is 192 million. In addition to its role as governance and token liquidity, SUSHI can also be used to purchase products and services on the SushiSwap platform.
What are the advantages of using SushiSwap?
SushiSwap provides a secure, fast, and user-friendly platform to trade Ethereum tokens. It offers users a secure and user-friendly environment to trade their tokens with low fees and high liquidity. The main advantages of using SushiSwap are:
- Security: The SushiSwap platform is decentralized and runs on the Ethereum blockchain, which makes it highly secure. Ethereum smart contracts secure all transactions on the platform, and users’ funds are kept safe in their wallets.
- Low Fees: SushiSwap offers very low fees compared to other DEXs, which makes it an attractive option for traders.
- Easy to Use: The SushiSwap platform is user-friendly and can be used by experienced or novice traders.
- Liquidity: SushiSwap is integrated with Uniswap, which provides high liquidity for traders.
- Automated Market Maker (AMM): SushiSwap utilizes Uniswap’s automated market maker (AMM) technology to provide traders with a convenient and efficient trading experience.
- Referral Program: SushiSwap also offers a referral program that allows users to earn rewards for inviting friends to join the platform.
What is SushiSwap’s current market value?
As mentioned above, SushiSwap is built on the concept of automated market makers (AMMs) and allows users to provide liquidity to the platform in exchange for rewards. The amount of liquidity and demand from users supported by SushiSwap determines the SushiSwap market value.
The market value of SushiSwap is expected to grow as the platform continues to gain more users and as more tokens are added to the platform. As the platform grows, the market value and growth rate of SushiSwap are expected to increase.
Is Sushi Token expected to grow?
Sushi Token is an integral part of the SushiSwap platform and is used to incentivize liquidity providers and reward users for their activity on the platform.
The current market value of Sushi is between $1.1 to $1.5, and the expected growth rate is estimated to be around 25-30% in the next 3-4 months. Sushi has been experiencing a downward trend since it hit an all-time high of $23 back in March 2021.
In terms of its long-term growth potential, Sushi Token could increase in value significantly as the SushiSwap protocol continues gaining traction from users and traders. Sushi Token is also expected to benefit from the growth of the DeFi industry as more people look to take advantage of the decentralized finance sector to access higher returns and lower risks.
Why is SushiSwap unique compared to other decentralized exchanges?
SushiSwap allows users to trade Ethereum tokens, including ERC-20, ERC-721, and ERC-1155 tokens, and to earn rewards for providing liquidity to the platform. It is an AMM that uses a mechanism called Constant Product Market Maker (CPMM). This differs from centralized exchanges, which use order books and matching algorithms to match buyers and sellers.
A unique feature of SushiSwap is its rewards system. It offers rewards in Sushi to liquidity providers (LPs) who contribute ETH and ERC-20 tokens to the liquidity pools. The Sushi is a governance token that can be used to vote on platform decisions such as token listings and exchange fees. This creates an incentive for users to provide liquidity and helps ensure the platform’s long-term sustainability.
In addition, SushiSwap is designed to be more user-friendly and accessible than other DEXs. It features an intuitive interface, low fees, and a comprehensive set of tools for users to manage their tokens and liquidity. The platform also has a community-driven token listing process that allows users to propose and vote on new tokens to be listed on the exchange.
Lastly, SushiSwap also offers a staking system to help users earn rewards for their holdings. Users can stake their Sushi tokens to earn rewards in the form of Sushi tokens. This is an attractive feature for users looking to generate passive income from their holdings.
Overall, SushiSwap offers an innovative and user-friendly decentralized trading platform that is designed to be more rewarding for users and to ensure the long-term sustainability of the platform.
Why should we use SushiSwap?
As mentioned above, SushiSwap provides an efficient and cost-effective way to trade tokens. One should use SushiSwap because of the network’s security and many benefits. The main benefits of SushiSwap to its customers include the following:
- Low Fees: Using the liquidity pool, SushiSwap charges a low fee for users to trade tokens. This fee is much lower than traditional exchanges and can save customers money when trading.
- Security: Using blockchain technology and decentralized protocols, SushiSwap is more secure than traditional exchanges. All funds are held in the liquidity pool, and users do not have to worry about the security of their funds.
- Accessibility: SushiSwap is accessible to anyone with an Ethereum wallet. This means anyone can trade tokens without going through the complicated process of setting up an exchange account.
- Decentralized Governance: SushiSwap is a decentralized protocol that is governed by its users. This means that users have a say in how the protocol is run and can vote on changes and improvements.
- Transparency: All transactions on SushiSwap are recorded on the Ethereum blockchain, which provides a high degree of transparency. This means that users can see all of the trades on the platform and the current price of tokens.
Is SushiSwap a good investment?
SushiSwap has been gaining attention in the cryptocurrency industry for its innovative approach to decentralized finance (DeFi). It has earned a reputation for being easy to use, secure, and low-cost. At the moment, SushiSwap is an attractive investment opportunity for both long-term investors and short-term traders.
The project is still relatively young and has the potential to become a major player in the DeFi space. The token has seen a steady increase in value since its launch in September 2020, and its use cases are expanding as more users join the platform.
The main risk associated with investing in SushiSwap is its high volatility. The token price can fluctuate significantly, so investors need to be prepared for both gains and losses. Overall, SushiSwap is an attractive investment opportunity for those willing to take on the risks associated with investing in a new and emerging technology. Its innovative approach to DeFi and its potential to become a major player in the space make it worth considering.
Will SushiSwap prosper in the future?
SushiSwap has experienced tremendous success since its launch in September 2020, becoming one of the world’s top 10 largest decentralized exchanges. As for whether SushiSwap has a future, the answer is yes. The growth of decentralized exchanges and the increasing popularity of DeFi applications have made SushiSwap a key player in the DeFi space.
As DeFi continues to grow and become more mainstream, SushiSwap will likely continue to gain adoption and grow in popularity. Additionally, the platform’s governance model and community-driven approach make it an attractive user option.
With continued development and improvements, SushiSwap has a bright future ahead.
Final Conclusion:
SushiSwap is on the verge of being a leading decentralized exchange platform. It has quickly become one of the most popular destinations for traders and investors in the DeFi space. In addition, SushiSwap provides an array of other features and services, such as portfolio management, yield farming, staking, and more. These features and services make SushiSwap a comprehensive decentralized finance protocol, allowing users to manage and participate in DeFi protocols easily.
Overall, SushiSwap is a reliable, secure, and user-friendly platform. With its automated market maker, users can provide liquidity and earn rewards, manage their portfolios, and participate in yield farming. SushiSwap is a great choice for users looking to get started with DeFi. With its innovative features and attractive rewards, the platform is sure to continue to grow in popularity in the coming years.
We Coin-Labs.com provides only objective information about Sushiswap.
Therefore, we are not responsible for the investment decision in Sushiswap and the resulting loss.
Sushiswap Basics
Here are some factors that investors should consider before investing in Sushiswap.
| Cryptocurrency Features | Sushiswap (SUSHI) |
|---|---|
| Publisher or Developers | Chef nomi, 0xmaki |
| Headquarters (Registration Number) | |
| Symbol | SUSHI |
| Platform | ETH |
| Published Date (CMC Registration) | 2020-08-28 |
| Max Supply | 250,000,000 SUSHI |
Reliability Score of Sushiswap in 2023
These are indexes mesuring the investment reliability of Sushiswap conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 3.5 / 10.0 CAR |
| Communication Rate | 7.7 / 10.0 CR |
| Technology Transparency Rate | 7.0 / 10.0 TTR |
| Development Participation Rate | 9.7 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 10 Exchanges |
| Number of Available Pairs Worldwide | 732 Pairs |
| Market Cap of the Cryptocurrency | 327,881,981 USD (Rank #134) |
The table above shows the result of investment suitability evaluation for Sushiswap.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Sushiswap Price
Here are the price and recent trading volume of Sushiswap. (Data of 2023-12-05 08:43:00)
| Price Items | Price and Trading Volume of Sushiswap |
|---|---|
| Sushiswap Price | 1.414 USD |
| Price Change 24h | 9.57% |
| Price Change 7d | 15.73% |
| Trading Volume 24h | 228,917,229 USD |
| Trading Volume Change 24h | 194.88% |
Cryptocurrency Metadata
You can check the development status and social media information of Sushiswap through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://sushi.com/ |
| 📖 White Paper | https://docs.sushi.com/pdf/whitepaper.pdf |
| 🛰️ Source Code (GitHub) | https://github.com/sushiswap/sushiswap |
| https://twitter.com/sushiswap | |
| https://reddit.com/r/SushiSwap | |
| 🎺 Message Board |
Where to Buy Sushiswap
Here are the top ten world crypto exchanges where traders can buy Sushiswap in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/SUSHI_BTC |
| Coinbase | Listed | https://pro.coinbase.com/trade/SUSHI-USD |
| Kraken | Listed | https://trade.kraken.com/en/charts/KRAKEN:SUSHI-BTC |
| KuCoin | Listed | https://www.kucoin.com/trade/SUSHI-USDT |
| Bitfinex | Listed | https://trading.bitfinex.com/t/SUSHI:USD |
| OKX | Listed | https://www.okx.com/trade-spot/sushi-usdt |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/sushi_btc |
| Bitstamp | Listed | https://www.bitstamp.net/markets/sushi/usd/ |
| Bybit | Listed | https://www.bybit.com/en-US/trade/spot/SUSHI/USDT |
| Gate.io | Listed | https://www.gate.io/trade/SUSHI_USDT |
Frequently Asked Questions
What is the current price of Sushiswap?
Sushiswap price today is 1.414 USD. Furthermore, the price of Sushiswap has fluctuated by 9.57% from 24 hours ago, and by 15.73% from a week ago.
Where is Sushiswap listed?
Currently, it is listed on a total of 10 among the world top 10 exchanges.
What is the market cap of Sushiswap now?
Currently, Sushiswap has a market cap of 327,881,981 USD, which is ranking 134 among cryptocurrencies worldwide.
How much is the trade volume of Sushiswap?
Currently, 231,954,387 SUSHI coins are circulating through 732 market pairs. As a result, in the last 24 hours, 228,917,229 USD of SUSHI coins were traded in the market.
