Sushi Price

SushiSwap was founded in 2020 and allows users to ​​swap, earn, stack yields, lend, borrow, and leverage on its decentralized community-driven platform. 

The software runs on Ethereum and, like Uniswap and Balancer, SushiSwap uses a collection of liquidity pools to achieve its goal. Users can first lock up assets into smart contracts. Traders then buy and sell cryptocurrencies from these liquidity pools, essentially swapping one token for another.

What are SushiSwap’s key features and how does it work?

Essentially, SushiSwap functions as a traditional centralized exchange by allowing users to buy and sell crypto assets. However, rather than relying on one central entity, SushiSwap deploys smart contracts to facilitate trades. Users can lock crypto on these smart contracts that can then be accessed by traders. 

Worth mentioning is that the fee traders pay to trade against locked assets is distributed to all of the network liquidity providers. It is distributed proportionally, based on the individual contribution to a pool. Providers are also rewarded with a percentage of the 100 daily minted SUSHI.

SushiSwap’s farming mechanism allows liquidity providers to contribute to SushiSwap pools. Liquidity providers can do this by connecting their Ethereum wallet to the SushiSwap farming software and then locking two assets into a smart contract. For example, SushiSwap’s USDT/ETH liquidity pool consists of equal values of USDT and ETH deposits. 

Buyers can then swap tokens within the pool based on the protocol’s rules. In order to keep the pool price stable, smart contracts running SushiSwap take the number of tokens from the buyer and send an equivalent amount of tokens back, keeping the total pool price constant.

Liquidity providers are able to claim their funds whenever they want, along with any cryptocurrency earned from the farming process, known as their “harvest”. Sushi’s SushiBar is a platform that allows users to stake their SUSHI to earn the xSUSHI token. This provides an alternative method for users to make further earnings.

Additionally, anyone holding a balance of the asset can propose changes to how it operates, and can vote on submitted proposals by other users. 

Where can you buy SushiSwap?

SushiSwap (SUSHI) can be bought from any of the CEXs and DEXs:

• Sushiswap;
• Binance;
• Okex;
• Coinbase;
• FTX;
• Huobi.