Swap

Uniswap

Layer N

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Sushi Swap, the most active DEX on Binance Smart Chain, is rebranding to Sushi Labs. The DEX will also offer a new derivative exchange for US-based traders.&nbsp;
Sushi Swap announced its rebranding after reassuring its users that the project will remain just as decentralized and retain all its old features. Sushi Labs will have bigger goals of updating to the latest trends in blockchain technology. One of the developments will be an on-chain perpetual DEX, a trend that took off in the past few months.&nbsp;
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 .<a href="https://twitter.com/SushiSwap?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@Sushiswap</a> has unveiled Sushi Labs, aiming to spur a fresh surge of expansion and creativity within the protocol. It also intends to introduce a novel derivative exchange named <a href="https://twitter.com/susa_ex?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@susa_ex</a> through a partnership with <a href="https://twitter.com/LayerN_Official?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@LayerN_Official</a>. <a href="https://t.co/HJm4DfDF69" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/HJm4DfDF69</a>— CryptoTvplus (@Cryptotvplus) <a href="https://twitter.com/Cryptotvplus/status/1800873374689947810?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 12, 2024</a>
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The change aims to solve the fragmentation of Sushi Swap, which has versions on multiple leading blockchains.&nbsp;
Read: <a href="https://www.cryptopolitan.com/uniswap-price-prediction/?_rt=M3wxfHVuaXN3YXB8MTcxODI2Mjk4Mw&amp;_rt_nonce=3293dc7eb8" rel="noopener noreferrer nofollow">Uniswap price prediction 2024-2030: Will UNI keep steady?</a>
Sushi Labs will also introduce a governance council while allowing Sushi DAO to retain governance functions on important decisions. The council will be tasked with making faster day-to-day decisions, aiming to put the DEX back into the center of the DeFi landscape.
<h2 class="wp-block-heading" id="span-style-font-weight-400-sushi-swap-aims-to-re-grow-volumes-inflows-span">Sushi Swap aims to re-grow volumes, inflows</h2>
Perpetual DEX with on-chain settlement is one of the more successful crypto projects despite the high fees and competition. One of their main features is the possibility of completely permissionless trading. The Susa on-chain DEX will have a consensus mechanism that will allow for faster and cheaper on-chain trading.&nbsp;
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 Susa and Layer N = next generation of DEX. <a href="https://t.co/MqIHgDVHPZ" rel="noopener noreferrer nofollow" target="_blank">https://t.co/MqIHgDVHPZ</a>— Susa (@susa_ex) <a href="https://twitter.com/susa_ex/status/1799461684895179257?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 8, 2024</a>
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Additionally, the Sushi Swap team reminded users that the Sushi DAO will remain operational, all services will be decentralized, and profit-sharing will continue. Sushi Swap aims to boost its performance after sliding from a peak value above $8B. Sushi Swap aims for growth through several protocols, each with around $300M in value locked.&nbsp;
In the past few months, Sushi Swap has served relatively small traders with orders between $300 and $1,000. However, fees have been rising since the end of May.&nbsp;
Sushi Swap has also adapted similarly to Uniswap and is represented on the latest trending exchanges. The DEX still has its BSC and Ethereum representation but has expanded to Base, Arbitrum, and Celo. The three networks may be an additional source of stablecoin inflows and general activity. Overall, Sushi Swap now handles around $3.7M in total volumes&nbsp;while retaining its relatively high-profile position on social media. Sushi Swap Ethereum carries more than $10M in daily trades.
Even during a period of lower trading volumes, Sushi Swap is one of the most active projects regarding development activity. Sushi Swap is in the <a href="https://www.cryptomiso.com/" rel="noopener noreferrer nofollow" target="_blank">top 3 blockchain projects</a> based on code commits.
<h2 class="wp-block-heading" id="span-style-font-weight-400-can-sushi-make-a-comeback-span">Can SUSHI make a comeback?</h2>
Sushi Swap became one of the hottest assets during the 2021 bull market. The rise of decentralized listings boosted SUSHI to a peak of $21.54. Sushi Swap even survived the attempted rug pull and ownership transfer after the actions of its founder Chef Nomi.&nbsp;
Also read: <a href="https://www.cryptopolitan.com/sushiswap-price-prediction/?_rt=MXwxfHN1c2hpIHN3YXB8MTcxODI2MjkwMQ&amp;_rt_nonce=14e84f3417" rel="noopener noreferrer nofollow">SushiSwap Price Prediction 2024-2033: Is SUSHI a Good Investment?</a>
SUSHI is one token that has not recovered during the 2024 bull market. SUSHI trades at $0.98, depending on its centralized <a href="https://www.binance.com/en/markets?ref=16863683" rel="noopener noreferrer nofollow" target="_blank">Binance</a> pair. At the moment, SUSHI is at risk of slippage and is seen as a long bet for returning as a top project. Price action is making traders attempt to call a bottom, with a preparation for another breakdown to the $0.60 range.&nbsp;
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 This Range on <a href="https://twitter.com/hashtag/sushi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#sushi</a> swap has been unforgiving. Back at the low. That $0.60 area is on the table is we lose the range <a href="https://t.co/EUkD76P42K" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/EUkD76P42K</a>— CVO Crypto (@cvo_crypto) <a href="https://twitter.com/cvo_crypto/status/1801023560070152311?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 12, 2024</a>
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One reason for the loss of popularity is the slowdown in new BSC tokens, which have been replaced by Solana-based meme tokens. Now, Sushi Swap is moving toward aggregation and tools to go beyond a single trading pair and into easy cross-chain trading. Sushi Swap has also expanded to The Graph, another network capable of fast interaction between protocols to reach that goal.&nbsp;
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 🌅The Sunrise is here! Over 180 🍣 <a href="https://twitter.com/SushiSwap?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@Sushiswap</a> subgraphs have been upgraded to The Graph Network. SushiSwap subgraphs are used to organize data on: 🪙 Token information 💱 Liquidity Pool Fees 📷 Daily Snapshots ➕ And more Anyone who needs access to organized SushiSwap data… <a href="https://t.co/Kkp623csZW" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/Kkp623csZW</a>— The Graph (@graphprotocol) <a href="https://twitter.com/graphprotocol/status/1800984607581471032?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 12, 2024</a>
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Sushi Swap tries to revive trading by launching a special themed week around gaming tokens. Sushi Swap lists some of the top Ethereum-based gaming tokens, including Guild of Guardians, Illuvium, and Yield Guild Games. The most active trades on Sushi Swap remain the wETH pairings with USDT and USDC. Currently, Sushi Swap carries more than $12M in USDT liquidity.
Cryptopolitan reporting by Hristina Vasileve<gwmw style="display:none;"></gwmw>

Sushi Swap rebrands to Sushi Labs; Which features are changing?

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