New DeFi Protocol SushiSwap Launches

New DeFi Protocol SushiSwap Launches

By author_nan | News | 2 Sep 2020


On August 26, a new DeFi protocol called SushiSwap launched. The protocol is a hard fork of Uniswap and aims to improve upon the latter’s core design by adding community-oriented features. 

  • SushiSwap has been described by the team as evolution of Uniswap i.e. “Uniswap with Sushi tokenomics”
  • Notable features of the protocol include a revamped reward distribution method, liquidity migration and more attractive liquidity provision incentives
  • Users will continue to earn rewards in form of native governance token $SUSHI for liquidity provision, even after they have removed their funds from a pool 
  • Some initial pools include DAI-ETH, COMP-ETH, LEND-ETH, LINK-ETH, BAND-ETH, AMPL-ETH and YFI-ETH
  • Sushi is the latest in protocols named after food, following YAM and Pasta

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