Introduction to Sushiswpa and BentoBox
Sushi’s BentoBox is a token vault that can support a collection of Dapps. Users can interact with these many Dapps in a gas-efficient manner, by leveraging the benefits of using a mutual token vault. On the other side of the coin, developers can even take advantage of the power of BentoBox, as it allows for the deployment of contracts at a lower cost, thanks to its gas efficient infrastructure, so developers can focus on what really matters, building.
Further, the BentoBox is a token vault that can support a multitude of Dapps within it. Dapps that are built within BentoBox can save their users, people like you, on network wallet fees, since tokens are already approved for use within the vault. A more exciting point, too, is that BentoBox algorithmically generates yields for depositors.
You can make some interest by lending the $SUSHI token on Kashi. Depositing your assets, such as $SUSHI tokens, into your BentoBox allows you to make 2x use of your cryptocurrencies. Create your vault simply by connecting your wallet, selecting the token you wish to deposit and transfer your desired balance to BentoBox.
Projects that build on top of BentoBox enjoy these privileges:
Extra yield from flash loans,
Extra yield from strategies,
Optimized deposit, withdraw and skim functions that auto-convert ETH to WETH,
Low gas (and fixed gas) transfers of tokens within the BentoBox,
Simplified approval of tokens (no need to re-approve for each protocol)
Minimal proxy contract factory build in. No need to roll your own.
On Kashi, lend your assets, earn yield with no impermanent loss. This isolated lending markets mitigate your risks as an asset lender.
How to Lend tokens into Sushiswap's BentoBox Kashi Lending
First, you need to connect your Metamask Binance Smart Chain (BSC) wallet. I will provide Metamask linked below. After you setup your Metamask BSC wallet and loaded with funds. Loaded BNB token transferred in from centralized exchange. My centralized exchange of choice is Binance.US for US users and Binance.com for all others. I will provide Binance.com and Binance.US exchange setup video and links below. I hate to use Ethereum Network on Sushiswap because of gas fees. Gas fees on Sushiswap is so low in sub 20 to 40 cents range compare to on a good day Ethereum gas fees are north of $40 dollars. Some times it can be high as $200 dollars which is outrageous! In my example, I used my BNB tokens to buy Alpha tokens using ths Swap tab. Alternatively, you can use built-in feature of Metamask wallet to swap tokens as well at little higher rate of fees. I used the Sushiswap's own Swap tab to swap BNB tokens into 1.8 Alpha tokens. Then I go to lend tab and deposited those Alpha tokens. In similar way, you can withdraw Alpha tokens deposited into Kashi lending back into your BSC Metamask wallet.
How to Swap Tokens Sushiswap AMM DEX
Sushi swap is a Automated Market Maker (AMM for sort) similar to Uniswap and PancakeSwap. In order to Swap in
In SushiSwap, go to the Swap tab. Connect with BSC Metamask wallet. Select the BNB token as the token you start out swaping from. Select the to Token. In my case, case I wanted swap BNB tokens into Alpha tokens so I can use it in Lending tab described later.
How to find Sushiswap Liquidity Pools with High APR
In order to find Sushiswap Liquidity Pools with High APR, go to analytics-bsc.sushi.com. You can find Top Sushi Liquidity Pairs with very high Total Value Locked and High APR. You can click on Fees(Yearly) and sort with very high yields. I see yields over 3k yearly. However, some of those pairs are against shitcoin that you will lose value in terms of dollars and sathoshi (Bitcoin). I would not put money on Pairs that have no value over time. Because your capital will depreciate over time even with astronomical APR. I would find a pair like DAI-WBNB or WBNB-BUSD where one is as stable coin (DAI and BUSD) and other is very valuable large cap coin like BNB. You will not make astronomical APR but your investment is same from depreciation.
How to Provide Liquidity to Sushiswap's Liquidity Pool
First connect your Metamask BSC wallet and loaded with BNB tokens because you are using Binance Smart Chain network. I used this again because of low fees compare to Ethereum. Go to Pool tab on app.sushi.com. Liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity. Click Add. Select your input. My case input is BNB. Select the second pair. To find pairs with great APR on liquidity pairs go to the Analytics tab on lower left.
Complete List of Blockchain Networks Supported by Sushiswap
Sushiswap provide following network support. They are in their decreasing order of Total Value Locked (TVL) and importance. Here is it: Ethereum, BSC, Polygon(Matic), Arbitrum, Avalanche,xDai, Celo, Heco, Harmonony, Palm, OKEx, and Fantom.
I will provide videos of Polygon, Arbitrum ( Ethereum Layer 2 solution with less fees), Avalance, xDai, and Celo linked below a well. You can become a liquidity provider for all other networks besides BSC that was explained in detain in this video in similar faction on Sushiswap AMM DEX.
Networks Based on Gas Fees and Centralized Exchange Withdrawal Fees:
In summary, I prefer the network with lowest gas fees. That is why I hate running on current Ethereum network. I hope when Ethereum Proof-of-Network transition is finalized fees will go down considerably. I still doubt it will match fees in Binance Smart Chain, Avalanch, Celo, or Polygon. I find transferring Fiat to those networks is very cumbersome because you have to pay higher withdrawal fees from centralized exchanges. I have to constantly look up exchanges with lowest withdrawal fees to convert fiat into network of choice. However, transferring fiat money to Binance Smart Chain via Binance exchange is still not perfect but lowest fee so far. You always have to consider withdrawal fee and conversion fees from stablecoin such as USDC to networks token currency to send over from centralized exchange to Web 2.0 wallet.
