The live price of SushiSwap (SUSHI) today is 1.5552 USD, and with the current circulating supply of SushiSwap at 232,056,433.73 SUSHI, its market capitalization stands at 360,894,788 USD. In the last 24 hours SUSHI price has moved ? USD or 0.00% while ? USD worth of SUSHI has been traded on various exchanges. The current valuation of SUSHI puts it at #190 in cryptocurrency rankings based on market capitalization.
Learn more about the SushiSwap blockchain network and how it works or follow the price of its native cryptocurrency SUSHI and the broader market with our unique COIN360 cryptocurrency heatmap.
SushiSwap (SUSHI) is a decentralized cryptocurrency exchange (DEX) built on the Ethereum blockchain. It is an automated market maker (AMM) that allows for direct peer-to-peer trading of crypto assets. SushiSwap is a fork of Uniswap, another popular DEX, but with added features and a community-oriented focus. The platform's native token, SUSHI, is used for governance and to incentivize liquidity providers.
SushiSwap operates on the Ethereum blockchain, which uses a Proof-of-Stake (PoS) consensus mechanism. This mechanism allows for faster and more energy-efficient transactions compared to the traditional Proof-of-Work (PoW) mechanism.
As a decentralized exchange, SushiSwap leverages the power of smart contracts on the Ethereum blockchain. These contracts automate the trading process, eliminating the need for an intermediary and reducing the risk of fraud.
SushiSwap's use of the Ethereum blockchain allows for high scalability, accommodating a large number of transactions simultaneously.
The platform's decentralized nature and use of smart contracts provide robust security against hacks and fraudulent activities.
Transactions on SushiSwap are pseudonymous, providing a level of privacy for users. However, all transactions are transparent and can be traced on the blockchain.
SushiSwap is fully decentralized, meaning it is not controlled by any single entity. This ensures fairness and transparency in all transactions.
SushiSwap was initially developed by a pseudonymous individual known as Chef Nomi. However, after a controversial event where Chef Nomi withdrew a large amount of funds, control of the project was handed over to the community. Now, SUSHI token holders can vote on proposals and make decisions about the platform's future.
SushiSwap can be used for a variety of purposes, including swapping tokens, providing liquidity, earning yield, and participating in governance. Its potential impact is significant, as it democratizes finance by allowing anyone, anywhere, to participate in financial markets.
SUSHI can be purchased on various cryptocurrency exchanges, including Binance, Coinbase Pro, and of course, SushiSwap itself. Users can swap their existing crypto assets for SUSHI.
SUSHI can be stored in any wallet that supports ERC-20 tokens, such as MetaMask, Trust Wallet, and Ledger.
SushiSwap has collaborated with various projects in the DeFi space, including Yearn.finance, to create innovative financial products.
SushiSwap's future plans include the integration of cross-chain compatibility, enabling users to swap tokens across different blockchains, and the development of a lending and borrowing platform.
Like all DeFi projects, SushiSwap faces risks and challenges, including smart contract bugs, market volatility, and regulatory uncertainty. However, the team is committed to mitigating these risks and overcoming these challenges.
SushiSwap has a vibrant and active community, with members contributing to governance, providing liquidity, and promoting the platform.
As a decentralized platform, SushiSwap operates in a regulatory grey area. However, the team strives to comply with all applicable laws and regulations.
In conclusion, SushiSwap is a pioneering project in the DeFi space, providing a decentralized platform for trading, yield farming, and governance. Despite the risks and challenges, it holds great potential for disrupting traditional finance.