SushiSwap is one of a growing number of decentralized finance (DeFi) platforms where users can buy and sell crypto assets. To achieve this goal, SushiSwap uses a set of liquidity pools: users first close assets in smart contracts, then traders buy and sell cryptocurrencies from these pools by exchanging one token for another. In this way, it allows you to trade cryptocurrencies without the need to use a central operator as administrator.
Buyers can exchange tokens in the liquidity pool based on protocol rules. Smart contracts with the SushiSwap system take the amount of tokens from the buyer and send an equivalent amount of tokens back, keeping the price of the entire pool constant. In return for maintaining liquidity in these pools, the liquidity providers are then remunerated with protocol fees as well as part of the 100 newly issued SUSHIs per day.
The decisions about SushiSwap software are made by the owners of its native SUSHI cryptocurrency. Anyone who has some SUSHI tokens in the platform's balance can propose changes to the way it works and can vote on proposals made by other users.
|Date of creation||June 17, 2020|
|Network consensus||Not mineable|
|Available resources||70 628 276|
Link to the project website:
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