December 3, 2023

We’re happy to announce we now list SushiSwap

📈 Spot trading of SUSHI/USDT live

What is SushiSwap?

This Decentralized Exchange allows users to swap any Ethereum-based crypto tokens.

No middleman. No order book. No intermediary. Unlike traditional Centralized Exchanges which need these features to facilitate trading, SushiSwap’s Automated Market Maker allows for direct, peer-to-peer trading.

Find rare crypto gems. Access  liquidity pools. And utilize Decentralized Finance services such as staking, yield farming, lending, and borrowing.

Have you ever wanted a specific trading pair for your favorite tokens? Thanks to SushiSwap’s AMM , you can now use smart contracts to trade, sell, and buy assets like never before.

If you are familiar with cryptocurrencies, then you may have heard of Uniswap. You will feel right at home using SushiSwap if that’s the case! Both of which are AMMs and can be used to enhance your experience with DeFi.

Some of the key features of SushiSwap include:

  • Swap cryptocurrencies not found on Decentralized Exchanges.
  • Contribute to liquidity pools to earn rewards.
  • Use analytical tools to find the best opportunities in the markets.
  • Send payments of any ERC-20 token to your desired wallet.

SushiSwap was started by an individual called Chef Nomi. While they remain anonymous, they have become a prominent figure in the crypto community and have helped revolutionize DeFi!

The SushiSwap token

SUSHI, SushiSwap’s native token, sounds pretty tasty! And once you learn more about its use cases, you’ll be hungry for that sweet, sweet crypto.

Currently, it is used for:

  • Governing the platform
  • Staking on the platform

Governance allows you to have a say in how the platform develops over time. This is done on the Sushi Proposal page, where you can vote for or against  proposed courses of action.

When staking the SUSHI token, you earn yields that are generated from the swap fees incurred on SushiSwap. This is a great way to incentivize their users to use and stake tokens.

In return, you earn xSUSHI, which acts as a receipt to show your participation. From there, you can pair both tokens with other crypto and add them to liquidity pools for more rewards.

SushiSwap’s market stats:

  • Current market cap: $155,618,895
  • Circulating supply: 230,954,649 SUSHI
  • Max supply: 250,000,000 SUSHI
  • Twitter: 280,694 followers

! Disclaimer

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Tom F.

Tom is one of the content managers here at Cryptology. While still fresh in his career he has been able to firmly place himself within the world of crypto and content creation, producing work for a number of publications including and The Times of Malta newspaper.