TVL > 100K
What is SushiSwap (SUSHI)?
SushiSwap is software that runs on top of the Ethereum Blockchain intended to incentivize a network of users to operate a platform where they can buy as well as sell cryptocurrency assets. It is created with the idea of allowing users to trade cryptocurrencies without actually relying on a central operator or administrator to facilitate these trades. The decisions relating to its software are made only by the holders of its native cryptocurrency token known as SUSHi, as anyone that holds a balance of the asset can propose changes to how it operates and can vote on submitted proposals by other users.
Who are the founders of SushiSwap (SUSHI)?
SushiSwap was originally created in 2020 by a pseudonymous person or a group of people that went by the name of Chef Nomi, alongside co-founders sushiswap and 0xMaki. This founding team copied the open-source code which was used on Uniswap and essentially created the foundation behind SushiSwap. Ownership of SushiSwap was then transferred to Sam Bankman-Fried, who is the CEO of the derivatives exchange FTX and quantitative trading company Alameda Research. SushiSwap also underwent a rebranding and will be called just Sushi from now on.
What makes SushiSwap (SUSHI) unique?
SushiSwap is intended to mirror traditional exchanges through facilitating the buying as well as selling of cryptocurrency assets between users. However, instead of being supported by a central authority, tokens that are traded on SushiSwap end up getting maintained by smart contracts instead. This means that users can lock cryptocurrency on the software, which can then be accessed by the traders. The users that trade against a locked asset pay a fee that is distributed to all of the liquidity providers on a proportional basis, which is based on their contribution to the pool in question.
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