Description of Sushiswap
What Is SushiSwap?
SushiSwap is a decentralized exchange (DEX) that uses an AMM. This automated market maker utilizes smart contracts to create markets for trading pairs of different tokens. Liquidity providers supply these smart contracts with capital and enable frictionless trading. The exchange was one of the earliest to adopt this model and was initially a fork of UniSwap, another popular DEX. It later grew into one of the biggest exchanges in all of DeFi and is now available on almost all EVM-compatible layer-one blockchains and several layer-two solutions for Ethereum.
The exchange targets mostly DeFi traders and institutions that want to enjoy permissionless and non-custodial trading. It does away with liquidity issues and has a more egalitarian governance approach than other exchanges. Its native token can be used for voting on governance proposals.
Its core products include the Bento Box, a token vault that generates yield for the capital deposited into it. Kashi lending is a lending and margin trading platform where anyone can create customized and gas-efficient markets for tokens. MasterChef V2 is a liquidity provision program that contains over $1 billion, at the time of writing. Finally, Miso provides projects with access to trading on the exchange itself, either through fixed price or dutch auction options.
Who Are the SushiSwap Founders?
SushiSwap was originally founded by Chef Nomi (pseudonym). They later left the project and handed off its management to two other pseudonymous developers called sushiswap and 0xMaki. They developed the product and the business, before the ownership of the exchange was passed on to Sam Bankman-Fried, CEO of FTX, a centralized exchange.
When Did SushiSwap Launch?
SushiSwap launched in August 2020.
Where Is SushiSwap Located?
The exchange does not have a central headquarter but operates in a decentralized manner instead.
SushiSwap Restricted Countries
There is no information about possibly blocked or restricted countries on this exchange.
SushiSwap Supported Coins List
SushiSwap supports almost all ERC-20 tokens on the market, thanks to its presence on several layer-one and layer-two blockchains.
How Much Are SushiSwap Fees?
The exchange charges the industry standard of 0.3% for token swaps.
Is It Possible to Use Leverage or Margin Trade on SushiSwap?
Sushiswap offers Kashi, a lending and margin trading platform that uses a unique isolated market framework.