A quick note on Sushiswap's migration


Yesterday, September 9 at 9 am a huge move of liquidity migration started. Sushiswap came into being taking away liquidity contracts from the Uniswap protocol.

sushiswap 10sep20

In this graph, taken from https://sushiswap.vision/ you can see how beginning on September 9 there is an influx of funds into the Sushiswap protocol. The total of $1.06 B is quite an achievement, and will allow Sushiswap to be a full-grown exchange, just a day and a half after coming into life.

Uniswap 10sep20

On the other hand, over at https://uniswap.info/ this is what things look like. There was a drop in liquidity to $518.15 M just as the migration started, but right now there has been a recovery and the Uniswap protocol can count on $1.07B in liquidity.

When we consider how Uniswap’s liquidity before Sushi was launched sat at $285M there can be no doubt that Sushiswap hasn’t really hurt Uniswap’s prospects. Just the opposite, having a second big time contender in the Dex liquidity market might have just been what was needed to get the public involved in earnest in this novel form of exchanging crypto currencies.

 

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ManuelAR
ManuelAR

Male, Electrical Engineer, from Panama


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