What Is SushiSwap(SUSHI)？
SushiSwap was launched in September 2020 by two anonymous developers called Chef Nomi and 0xMaki. It is one of the most popular Decentralized Applications (DApp) on the Ethereum blockchain. SushiSwap adopts the automated market-making (AMM) model for its decentralized exchange (DEX) protocol. Simply put, there is no order book on SushiSwap. Instead, the buying and selling of crypto are facilitated by smart contracts and the price is determined by an algorithm.
Sushiswap is a fully decentralized on-chain protocol for exchanging tokens through a process of automated market-making (AMM) which uses 'liquidity pools' rather than an orderbook. This innovative system lets anyone make a liquidity pool for their own token by providing ETH and an ERC20 of their choice, and ensures automatic price discovery. Sushi is expanding its offerings with the BentoBox lending platform.
SushiSwap is community-run through voting on project governance issues, and fees collected by SushiSwap are shared between the $SUSHI token holders and liquidity providers (LPs).
How To Use Sushiswap?
The SushiSwap app is a place to get an overview of the farming and staking rewards, while the exchange is the good place for users to swap tokens, manage liquidity pools and create new markets.
What is SUSHI?
SUSHI is the native token of SushiSwap. It is an ERC-20 token distributed to liquidity providers on SushiSwap via liquidity mining. SUSHI has a maximum supply of 250 million tokens. The supply of SUSHI is dependent on the block rate. As of November 2021, it is created at a rate of 100 tokens per block, and its circulating supply has already reached approximately 50% of the total supply at 127 million tokens.
How To Buy Or Sell SUSHI On Exchange?
Apart from earning SUSHI from SushiSwap, the token can be purchased on cryptocurrency exchange. On the other hand, if you want to sell SUSHI received from SushiSwap, you can transfer them to your wallet and sell them on crypto exchanges.
1. Log in to your exchange account and click [Trade] from the top navigation bar to select the classic or advanced trading page.
2. On the right side of the screen, type “SUSHI” on the search bar to see the available trading pairs. In this example, we will use SUSHI/BUSD. Click [SUSHI/BUSD] to open the trading page.
Where To Buy SUSHI?
SUSHI is available on most major cryptocurrency exchanges.,such as Binance, Coinbase, FTX and Bitfinex.