We're excited to announce that Sushi is now live on Blast, the Ethereum Layer 2 with native yield. This marks further expansion of Ethereum for Sushi as users can take advantage of the low gas fees and native yields provided by the new Layer 2.
What is Blast?
Blast is the first L2 that incorporates native yield. Your balance on Blast compounds automatically. Blast yield comes from ETH staking and RWA protocols. The yield from these decentralized protocols is passed back to Blast users automatically.
Sushi x Blast: Expanding the Ethereum ecosystem
Following the mainnet launch, Sushi is now live on Blast!
Sushi, an Ethereum-native decentralized exchange (DEX), stands out for its multi-chain expansion across over 30 chains. Its goal is to enhance the DEXperience by integrating with multiple chains, providing users with a wide range of features to improve trading efficiency and liquidity management.
Blast Integration Highlights
V2 and V3 AMM: The integration of Sushi with Blast introduces Sushi's v2 and v3 Automated Market Maker (AMM) to the Blast network, facilitating token swaps and liquidity provision, with the V3 AMM featuring concentrated liquidity to enhance the potential returns for liquidity providers. Users can now trade and LP on Blast via the Sushi UI.
It's worth noting that the yield on Blast comes from ETH staking and RWA protocols, with WETH and USDB (Blast stablecoin) automatically generating yield for end users. When users deposit into a Sushi pool, the pool receives this yield instead. To ensure that Liquidity Providers (LPs) receive their portion of the yield, we will use Merkle to distribute the yield back to LPs for v3 and a solution for v2 is in the works. Additionally, Blast points earned by LPs will be distributed back to them through a script designed to facilitate the distribution of LPs' points in the upcoming days.
Sushi Swap API: Route Processor 4 (RP4) Integration, as part of the Sushi Swap API upgrade, will seamlessly integrate with Sushi V2/V3, SwapBlast V2, BlastDEX V2, Monoswap V2/V3, and Thruster V2/V3 for the Blast Integration, on top of the existing liquidity pools from Curve, Algebra, Quickswap, Pancake, and Camelot, Uniswap v2, v3 and TraderJoe’s v1, allowing more asset accessibility via the Sushi UI across multiple chains. More DEXs on Blast will be added gradually in the coming weeks.
DEX Aggregator: Sushi utilizes a DEX aggregator to ensure users consistently receive the best swapping prices routing from the above-mentioned liquidity pools brought by the Sushi Swap API . This tool aggregates liquidity from multiple sources, optimizing price efficiency with no front end fees and reducing slippage for users.
Smart Pools via Steer Protocol: Leveraging Steer Protocol's v3 Automated Liquidity Management solution, Smart Pools on Blast guarantee that liquidity providers in v3 positions consistently earn fees. This approach not only maximizes returns but also minimizes the necessity for active management by liquidity providers. Smart Pools will be available in the next few days.
Engaging with Blast
🌉 Bridge Bridge your assets from Ethereum to Blast using the Blast Bridge.
🔄 Swap Swap tokens on Blast via Sushi, benefitting from reduced fees.
💧 LP (Liquidity Provision) Provide liquidity to existing pools or create new ones.
