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