After introducing SushiXSwap in 2022 – the first-ever cross-chain swap, we are thrilled to present the next version, SushiXSwap v2. While v1 pioneered chain-agnostic token swapping, v2 offers improvements in several areas, including more chain and more tokens to swap, more convenience and enhanced security. Let's take a closer look at what’s new in v2!
What's New in the latest SushiXSwap v2?
SushiXswap, the premier cross-chain swap platform, has expanded its capabilities! Users can now seamlessly swap assets across 12 supported chains without the need for bridging or wrapping. Here are the networks you can access:
✅ Ethereum ✅ Arbitrum ✅ Optimism ✅ Polygon ✅ Base ✅ BNB Chain ✅ Avalanche ✅ Scroll ✅ Linea ✅ Fantom ✅ Moonbeam ✅ Celo
This upgrade enables Sushi users to manage their tokens more efficiently across a diverse range of blockchains.
Circle-Backed USDC Integration
USDC, backed by Circle, is integrated using the Cross-Chain Transfer Protocol (CCTP). Instead of multiple chain-specific versions of USDC, CCTP allows for the minting and burning of native USDC tokens on any supported blockchain, with no fees for the bridging. This not only ensures liquidity and stability across all chains but also establishes USDC as truly universal. For Sushi users, this translates to even more straightforward cross-chain swaps, as they can leverage a single chain-agnostic USDC regardless of the networks they're interacting with.
Convenience with Payload Executors
Ever been in a situation where you wanted to swap assets from one chain to another, but you couldn't because you didn't have enough tokens for the gas fees on the destination chain? That's where Payload Executors come in.
This feature enhances transaction capabilities, simplifying payload data management. One significant advantage is that swaps can now be charged on the source chain instead of the destination chain, making trading more convenient. This eliminates the extra steps of using bridges and securing native gas tokens for a swap.
What's SushiXSwap really for?
You might be wondering, "Sure, I can swap tokens from one chain to another, but what practical purposes does it serve?" Here are the key and most common use cases:
Discover new tokens on different chains that have not yet made their way onto centralized exchanges. By doing so, you can access unique new tokens and diversify your crypto portfolio with assets that may not be readily available elsewhere.
Streamline the process of consolidating your tokens back to Ethereum from various Layer 1 networks. This simplifies asset management and allows you to have a centralized hub for your crypto holdings, making it easier to track and utilize your assets effectively.
What’s next?
In the next phase of SushiXSwap, we're extending our reach across more blockchain networks through integrations with Stargate and Axelar, including both EVM and non-EVM chains. We're also introducing 'swappable adapters,' which will facilitate the seamless integration of new networks and additional messaging protocols. Furthermore, we're exploring more use cases with Chainlink's CCIP integration, ensuring secure and precise cross-chain transactions.
Together, these developments bring chain-agnostic swaps, enhanced security, and greater convenience to DeFi, making SushiXSwap the best cross-chain swap out there. Our goal is to simplify DeFi for all users, so stay tuned for what's coming next!
Sushi is building a comprehensive DeFi ecosystem! Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!
