Sushi Swap is a decentralized exchange (DEX) where you can swap your crypto. (example from ETH to DAI)
✅ Active community
✅ Active team
✅ Billions $$ of liquidity
✅ Decentralized, DAO.
Why Use Sushi Swap? 🤔
- Swap between any crypto assets, with a fixed fee, no matter the amount $$.
- Anyone can provide liquidity to pools, which makes Uniswap possible, and decentralized.
- Liquidity providers make a % every time someone swaps crypto assets using their pool.
- Stake SUSHI tokens to earn a revenue share from swap fees on the platform! 🔥
- Lend and borrow assets in SushiSwap's new Lending module: Kashi! 🔥
Why Decentralized Exchanges? 🤔
- Coinbase is a company. Coinbase needs to make money. They charge % of sales / buys.
- Sushi Swap is owned by the people.
- Selling $30k worth of ETH on Coinbase will cost you $500.
- Selling $30k of ETH for USDC on Sushi Swap costs $10-$50 (depending on gas)
- Swap any amount for only the price of the gas fee + small swap fee that goes to providers.
How Does It Work?
- Every pair (ex : ETH / USDC) has a community pool.
- Anybody can provide ETH & USDC into the ETH/USDC pool.
- This gives liquidity to the people and allows swaps between the pair.
- Those that provide liquidity to any pool, get rewarded swap fees every swap.
What Is The UNI Token Used For?
- Voting power in the Sushi Swap DAO.
- Voting power controls the DAO's treasury as well, which is well over $700 million
- SUSHI tokens can be staked, and stakers receive a revenue share of all swap fees on the platform, whether it's on Ethereum's Sushi Swap or Polygon's Sushi Swap.
- After staking $SUSHI, you get $xSUSHI tokens in return that represent your staked ones.
- You can use $xSUSHI as collateral on AAVE, to borrow against!
Revenue Share For Token Holders:
$SUSHI stakers receive revenue share from all swaps on the platform!
- Buy SUSHI tokens.
- Stake them in the Sushi Bar
- Get xSUSHI tokens in return.
- Your xSUSHI becomes more valuable
- Longer you wait, the more SUSHI you can claim for the same amount of xSUSHI you originally were given.
- Whenever you'd like (1 year? 10?), unstake your SUSHI and reap the rewards.
Put Your staked SUSHI tokens (xSUSHI) to work! — AAVE Collateral
- Go to AAVE V2 Markets
- Scroll down and find the xSUSHI pool
- Approve + Deposit your xSUSHI
- Now your staked tokens can be used as collateral + you still accrue SUSHI rewards!
What Are The Risks Of Using Sushi Swap?
- Bugs, exploits are always possible.
- As a swapper, not many risks at all. (except for slippage)
- As a liquidity provider, impermanent loss is always at play.