DeFi 10108 September 2021

What is SushiSwap?

SushiSwap

Summary

  • SushiSwap is a DEX on the Ethereum blockchain
  • SushiSwap used an AMM mechanism
  • SUSHI places decision-making in the hands of token holders.

SushiSwap is a community-owned and-run crypto DEX (Decentralized Exchange) on the Ethereum network. Unlike most centralized exchanges, SushiSwap uses the AMM (Automated market-making) mechanism that leverages smart contracts in creating and managing liquidity token pools instead of using order books. Users can access these liquidity pools to swap crypto assets.

AMM mechanism allows SushiSwap users to earn yields in SUSHI tokens and trading fees from trading cryptocurrencies without needing a centralized exchange to operate. SUSHI, the native SushiSwap cryptocurrency, is also a governance token that places decision-making in the hands of token holders. Holders can vote on different Sushi projects, set platform fees, vote in new liquidity pools, and even

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