Review on Sushiswap by Toprak Dere
About SushiSwap
SushiSwap decentralized cryptocurrency exchange is very popular and secure. This decentralized exchange, which is an AMM protocol (automatic market maker), uses different price mechanisms in trading and price increases.
In order to be able to trade on decentralized exchanges, liquidity must be provided in advance in the crypto currency pairs you will trade. There are quite a lot of these individuals or institutions that enable you to trade securely on decentralized exchanges where liquidity providers play this role.
Liquidity providers are also rewarded for “providing liquidity” to decentralized exchanges. When liquidity providers provide liquidity to "designated pools" on the SushiSwap platform, they are entitled to earn SUSHI tokens. These SUSHI tokens, on the other hand, can withdraw or sell whenever they want.
Another gainful gateway is trade awards. Trade rewards are determined by the community. In each purchase and sale, 0.25% of the transaction amount is sent to liquidity providers, while an amount such as 0.05% is sent to SUSHI holders. These rates can again be changed by the SUSHI community.
To use the SushiSwap decentralized exchange, you must have any decentralized wallet. After connecting with these decentralized wallets, you will be able to connect to sushiswap solutions that you can easily trade. The platform, which supports 2 decentralized wallets yet, will bring the ability to transact with other wallets in the future.
Pros
- decentralized exchange with an automated market maker that is popular and safe
- Ability to win trade rewards with the "staking" mechanism
- The sushiswap platform will also implement the borrowing - lending platform in the future.
Cons
- In order to make transactions, liquidity must be provided in advance in the crypto currency pairs you will trade.
