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SushiSwap is a comprehensive decentralized trading platform built on the Ethereum network, which allows users to swap coins and tokens for one another without the need for a middleman or intermediary. Additionally, it lets users to engage in other decentralized finance services, such as yield farming or liquidity mining.

What is Sushi Swap?

SushiSwap is a decentralized exchange initially launched as a copy of Uniswap. It is based on the automated market maker model, which means that the buying and selling of crypto are facilitated by smart contracts and the prices are determined by algorithm. Unlike traditional exchanges, SushiSwap don´t need an intermediary and order book and it relies on liquidity provided by other users.

Since the launch of SushiSwap in 2020, the project has continued to develop new DeFi tools and features. The core products of the platform include a decentralized lending market, yield instruments and staking derivatives, all within the same app.

How does it work?

The core function of SushiSwap is cryptocurrency trading or swapping coins and tokens one for another thanks to the existence of liquidity pools.

Users can become liquidity pool providers, by locking up their funds in token pairs to these pools. USDT/ETH liquidity pool, for example, is made up of deposits of equal value in USDT and ETH.

The users are then rewarded with a small percentage of fees generated by trades, in proportion to their share of the pool, along with the protocol´s native tokens SUSHI.

Buyers on the other hand can swap tokens and coins within the pool based on the protocol’s rules. Smart contracts take the amount of tokens from the buyer and send an equivalent amount of other tokens back, keeping the total pool price constant.

Use in practice

To get started with SushiSwap a user needs to connect his extension coin wallet to the protocol´s decentralized app. After connecting, he gets access to individual DeFi services.

The platform offers, in addition to the mentioned tokens and coins swapping and liquidity mining, also other features, such as lending and borrowing or staking via SushiSwap´s products, which are SushiBar and Kashi.

SushiBar lets SUSHI tokens holders receive staking rewards on their SUSHI in the form of xSUSHI. These rewards come from swap fees. With xSUSHI, users can then gain access to SushiSwap’s governance system, maintaining voting rights and giving users immediate access to rewards while their SUSHI continues to grow.

The xSUSHI token is always worth more than a regular SUSHI token, because xSUSHI accrues value from platform fees.

Kashi is a lending and margin trading platform, that allows for anyone to create customized and gas-efficient markets for lending, borrowing, and collateralizing a variety of DeFi tokens, stable coins, and synthetic assets.

For borrows, Kashi requires a certain amount of collateral to be deposited and charges based on a variable rate. For lenders, Kashi offers a variable reward APR in exchange for assets deposited.

What is SUSHI token?

SUSHI is an Ethereum token that powers SushiSwap. It is a native token of the protocol and gives its owners voting power to determine the future of the platform as well as a percentage of trading fees and staking rewards.

SUSHI has a maximum supply of 250 million tokens.


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