Sushi, a prominent decentralized exchange (DEX), has expanded its services to Aptos, a layer-1 blockchain.
Sushi Aims To Tap Into New Liquidity Pools And Broaden Its Reach
Sushi, a prominent decentralized exchange (DEX), has expanded its services to Aptos, a layer-1 blockchain.
This marks the first time that Sushi is accessible on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM). Previously, Sushi was available on Ethereum, Arbitrum, Base, Polygon, Fantom, BNB Chain, and other EVM-compatible chains.
Sushi has a total value locked (TVL) of $269 million on its platform across chains. In contrast, Aptos currently has only $45 million in locked value. Sushi's expansion to Aptos opens up opportunities for fresh capital inflows, positioning it to compete with non-EVM chains like Solana.
Sushi voiced enthusiasm for this expansion, stressing the release of deep liquidity across key blockchain networks as well as the strengthening of cross-chain trade.
Aptos, founded by former Meta employees, launched its native APT token last year but struggled to acquire a major chunk of DeFi TVL despite having a market capitalization of more than $1 billion.
By expanding to Aptos, Sushi aims to tap into new liquidity pools and broaden its reach in the rapidly evolving DeFi landscape.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
