SushiSwap Becomes ‘User Focused’ As It Gunns For Top DEX Spot

With the aim of becoming a top decentralized exchange (DEX), SushiSwap has published a roadmap for everything it plans to achieve in 2023.

SushiSwap said in the release that it aims to become a user-centric DEX by working on its product stack and feature commonality. For the new year, users can expect the launch of the DEX Aggregation Router.

Sushi Will Enter DEX Aggregation

The platform said, “In 2022, SUSHI builds its aggregation router in stealth mode; We will leverage its launch in Q1 ’23 to enter the DEX aggregation business.”

The platform will aim to increase swap volumes and fees during the year in order to benefit the Liquidity Protocol (LP). The release also emphasized the need for sustainable scalability of its own and other platforms. “Many protocols like Sushi must work on scaling operations without depleting their coffers,” said CEO Jared Gray.

The release also noted that Sushi changed its business model to incorporate two aspects. To entice LPs to switch to sushi for higher returns, they have also revamped tokennomics. With a strong emphasis on aggregation, the platform also encourages collaboration with network partners.

Will New Tokennomics Increase Prices?

Gray stressed in December that the new token economics would promote liquidity and further decentralization. He added that the concept of a new token model should offer sustainable economics and more equitable governance to boost treasury reserves and ensure ongoing operations and growth.

In 2023, the network aims to launch Sushi Studio, a decentralized incubator, to support the ecosystem.

SushiSwap is ranked 18th in terms of DeFi TVL as of January 2023. The network’s native token, SUSHI, has a total value of $459.41 million locked and is used in over 20 chains.

Sushi TVL in USD on Difilama

The governance token reached its all-time high of $23.38 in March 2021. Since then, it has lost about 94% of its value. The coin is trading in a 24-hour range of $1.21 and $1.29 on CoinGecko at the time of press.

SUSHI has gained over 40% in value since the start of 2023 as the market recovers from the FTX collapse.


BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

Source link

Leave a Comment