Sushi Swap launches a decentralized exchange on the Aptos blockchain. Decentralized Sushi Swap exchange was launched on the Aptos blockchain. In this Pooyanmusic post, you will read about Sushi Swap, a decentralized exchange.
Sushi is a well-supported token that works on multiple blockchain networks. This currency is used as the main currency of the SushiSwap decentralized exchange (DEX). This currency has more than seven times the locked value of the entire Aptos blockchain. A peer-to-peer exchange where transactions are made directly between crypto traders.
According to cryptocurrency market data aggregator CoinMarkets, at the time of writing, SushiSwap is the 142nd largest cryptocurrency by market capitalization.
Out of the maximum supply of 250 million tokens, 242 million have been created. Sushi, like other digital currencies, has seen extreme price fluctuations. With a peak of more than $20 per coin and recent values it has fallen below $2.
Sushi Swap is a decentralized exchange (DEX) where users can exchange between different virtual currencies using a connected crypto wallet, such as MetaMask. The exchange provides the possibility of exchanging between 11700 currency pairs.
Sushi, one of the longest running Decentralized Exchanges (DEX), expands its services to Layer 1 of the Aptos Blockchain.
The move to Aptos marks the first time that Sushi is accessible on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM). It was previously available on Ethereum, Arbitrum, Basic, Polygon, Phantom, BNB chain and more, according to DiFi Lama.
Sushi has a total value of $350 million (TVL) locked on the platform. Of this amount, $267 million is on Ethereum. At the time of publication, Aptos has a blockchain value of just $45 million, according to DiFi Lama. Sushi’s entry into Aptos has the potential to pave the way for new capital to compete with other non-EVM chains such as Solana, Mixin and Osmosis.
“This expansion to Aptos not only opens up a new level of deep liquidity in large blockchain networks,” Sushi said in a statement. It also significantly improves the cross-chain trading experience.
Ex-META employees built Aptos. It launched its native APT token last year, and despite having a market cap of more than $1 billion, the blockchain has struggled to capture a significant portion of TVL’s decentralized finance (DeFi).