News25 August 2021

SushiSwap moves to Avalanche In A $15 Million Liquidity Mining Incentive Project as AVAX price surges

SushiSwap Moves to Avalanche

Summary

· DeFi’s largest automated market maker is building on Avalanche's blockchain

· SushiSwap is committing $7.5 million to liquidity mining

· AVAX surges more than 150% in the last week

Avalanche is all geared up to get the most of the dApp market share after the launch of the Avalanche Rush on August 19, a $180 million liquidity-mining project.

This move has attracted wanted attention from large decentralized apps, most notably, SushiSwap.

SushiSwap plans to start one of the largest projects on Avalanche, following the success of Aave and Curve Finance. In what seems to be a race to acquire the largest DeFi TVL (total value locked), Avalanche is looking to use these projects to best its closest rivals, Terra and Solana.

SushiSwap is one of the biggest players in decentralized finance, making its desire to build on the Avalanche blockchain a big win forAvalanche.

This is witnessed in the rapid surge of the AVAX cryptocurrency witha 160% rise in seven days, with cryptocurrency analyst @AltcoinSherpa claiming to own a large AVAX holding.

Kibet Elikana
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