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About Sushi

What is Sushi?
How does Sushi work?
Sushi Quick Start Guide
What is the official Sushi website?
How is Sushi different from other DEXes?
Sushi Quick Start Guide
What is Sushi?
How does Sushi work?
Sushi Quick Start Guide
What is the official Sushi website?
How is Sushi different from other DEXes?

Sushi is a DEX allowing users to swap cryptocurrency assets without an intermediary. It offers a wide range of assets, is deployed on more than 30 chains, and works uniformly across these chains, making it a versatile platform in the DeFi space​​.

Getting Started

To use Sushi, users first need a crypto wallet to hold their cryptocurrencies. Wallets serve as a secure digital identity on the blockchain. Common wallet providers include MetaMask, Ledger, and Trezor. The wallet needs to be connected to the Sushi app for functionality​​.

Overview of Swaps

Sushi uses an Automated Market Maker (AMM) model, facilitating trades by drawing on liquidity provided by users. To make a swap, users select the assets they want to trade in the Sushi app, confirm the transaction in their wallet, and wait for completion. First-time users may need to approve the assets for swapping​​.

Features on Sushi

  1. Swap: 
    Allows users to exchange cryptocurrencies using an Automated Market Maker (AMM) model. Prices are set by liquidity in each pool, and users can easily swap tokens without a counterparty. The process is user-friendly and efficient.
  • Same-Chain Swap: Enables trading of cryptocurrencies within the same blockchain. Currently Sushi is on 30+ networks allowing users to swap and LP. 
  • Cross-Chain Swap: Facilitates the exchange of assets across different blockchains by SushiXSwap, Sushi’s cross-chain swap, which are currently on 7 chains. 
  1. Liquidity Provision:
    Users can provide liquidity by depositing asset pairs into a liquidity pool. They receive Sushi Liquidity Provider (SLP) tokens in return, earning extra yield from a fee charged on trades of the respective token pair.
  • V2 AMM: A simpler model where users supply equal values of two tokens to a liquidity pool, earning fees from pool trades.
  • V3 AMM: Offers more control and features like concentrated liquidity, allowing for potentially higher returns but with increased complexity.
  1. Farming:
    LPs (Liquidity Providers) can stake their tokens to earn $SUSHI. 
  • SLP tokens (pool tokens): After providing liquidity, users will receive SLPs (Sushi Liquidity Provider tokens) as pool tokens, which represent their share of the pool. Users can then stake their SLPs for additional yield in Sushi’s native token, $SUSHI.
  • Sushi tokens (native token): $SUSHI holders can stake their $SUSHI into the Sushi Bar and earn trading fees (0.05% out of the 0.3% standard fees) that are paid out in $SUSHI. Stakers receive xSUSHI tokens upon staking, representing a share in the Sushi Bar and entitling them to a portion of the platform's fees. This feature is attractive for long-term holders seeking to accumulate more $SUSHI passively

Sushi is a DEX allowing users to swap cryptocurrency assets without an intermediary. It offers a wide range of assets, is deployed on more than 30 chains, and works uniformly across these chains, making it a versatile platform in the DeFi space​​.

Getting Started

To use Sushi, users first need a crypto wallet to hold their cryptocurrencies. Wallets serve as a secure digital identity on the blockchain. Common wallet providers include MetaMask, Ledger, and Trezor. The wallet needs to be connected to the Sushi app for functionality​​.

Overview of Swaps

Sushi uses an Automated Market Maker (AMM) model, facilitating trades by drawing on liquidity provided by users. To make a swap, users select the assets they want to trade in the Sushi app, confirm the transaction in their wallet, and wait for completion. First-time users may need to approve the assets for swapping​​.

Features on Sushi

  1. Swap: 
    Allows users to exchange cryptocurrencies using an Automated Market Maker (AMM) model. Prices are set by liquidity in each pool, and users can easily swap tokens without a counterparty. The process is user-friendly and efficient.
  • Same-Chain Swap: Enables trading of cryptocurrencies within the same blockchain. Currently Sushi is on 30+ networks allowing users to swap and LP. 
  • Cross-Chain Swap: Facilitates the exchange of assets across different blockchains by SushiXSwap, Sushi’s cross-chain swap, which are currently on 7 chains. 
  1. Liquidity Provision:
    Users can provide liquidity by depositing asset pairs into a liquidity pool. They receive Sushi Liquidity Provider (SLP) tokens in return, earning extra yield from a fee charged on trades of the respective token pair.
  • V2 AMM: A simpler model where users supply equal values of two tokens to a liquidity pool, earning fees from pool trades.
  • V3 AMM: Offers more control and features like concentrated liquidity, allowing for potentially higher returns but with increased complexity.
  1. Farming:
    LPs (Liquidity Providers) can stake their tokens to earn $SUSHI. 
  • SLP tokens (pool tokens): After providing liquidity, users will receive SLPs (Sushi Liquidity Provider tokens) as pool tokens, which represent their share of the pool. Users can then stake their SLPs for additional yield in Sushi’s native token, $SUSHI.
  • Sushi tokens (native token): $SUSHI holders can stake their $SUSHI into the Sushi Bar and earn trading fees (0.05% out of the 0.3% standard fees) that are paid out in $SUSHI. Stakers receive xSUSHI tokens upon staking, representing a share in the Sushi Bar and entitling them to a portion of the platform's fees. This feature is attractive for long-term holders seeking to accumulate more $SUSHI passively