Today we have listed another new coin! SushiSwap is now available on the LiteBit platform. This blog will highlight all the essentials of SUSHI.
SushiSwap is an example of an automated market maker (AMM). AMMs are an increasingly popular tool among crypto users. It refers to decentralized exchanges that use smart contracts to produce markets for many different tokens.
In September 2020, SushiSwap launched as a fork of Uniswap. The founder's name is a pseudonym entity known as Chef Nomi. Currently, SBF Alameda from FTX are in charge of the project.
SUSHI plans to diversify the AMM market while adding extra features that are not available on Uniswap, which includes increased rewards for network participants.
Furthermore, SUSHI intends to improve on the offerings of Uniswap by expanding the impact users could have on its future and its operations. The SUSHI platform takes 0.3% from the transactions transpiring in its liquidity pools, meanwhile the SUSHI token is applied to reward users portions of the fees. Additionally, Sushi enables users to governance rights.
The main audience of SUSHI is DeFi traders and related entities that search for capitalization in project tokens and generating liquidity.