Chiara Bianchi
Sushi, a well-known decentralized finance (DeFi) platform, is finalizing a strategic acquisition, according to an update from CEO Jared Grey. Although specific details of the acquisition are not yet disclosed, Grey indicated that significant shifts are expected in the decentralized exchange (DEX) landscape, particularly within the automated market maker (AMM) and perpetuals (perps) sectors.
In a series of posts on X (formerly Twitter), Grey mentioned that this acquisition will pave the way for new DeFi tools and features. These innovations will primarily focus on enhancing automated trading, positioning the platform to become a more formidable player in the DeFi ecosystem. The move aligns with SushiSwap’s goal of competing directly with top-tier DEXes and aggregators.
Grey also highlighted Sushi’s recent performance, emphasizing its leadership as the most distributed aggregator in the industry. According to him, Sushi is outperforming leading competitors across vital metrics like price, gas fees, and latency on key networks. Additionally, the platform’s aggregation volume has consistently increased month-over-month, reflecting its continuous growth and success.
Learn: What is Blockchain?
Despite Sushi’s overall progress, Grey pointed out that the community often focuses on its Total Value Locked (TVL), a metric he considers outdated. Instead, he emphasized Sushiโs advanced aggregation system, which offers users better access to token inventories and highly competitive APYs for liquidity providers (LPs). The platform has also experienced 100% year-over-year user growth, further cementing its expansion and growing influence in the DeFi space.
DefiLlama
Sushi’s Future Plans
With the upcoming acquisition, the platform plans to introduce innovative tools targeting the AMM and perps sectors, which could help it secure a leading position in DeFi. Grey promised more details about the acquisition and its features soon, encouraging builders and protocols interested in collaborating with Sushi to explore integration opportunities via their API.
This strategic move aims to solidify Sushi’s position as a key player in decentralized finance, with enhanced features and a vision for long-term success in the rapidly evolving DeFi landscape.
What is SushiSwap?
SushiSwap is a decentralized exchange (DEX) that operates using an automated market maker (AMM) model. This system leverages smart contracts to facilitate trading between different token pairs. Liquidity providers contribute capital to these smart contracts, enabling seamless trading without the need for intermediaries. Originally launched as a fork of UniSwap, another well-known DEX, the platform quickly evolved into one of the largest exchanges in the DeFi ecosystem. Today, it is accessible on nearly all EVM-compatible layer-one blockchains, as well as several layer-two Ethereum solutions.
The exchange primarily caters to DeFi traders and institutions seeking permissionless, non-custodial trading options. It addresses liquidity challenges while offering a more decentralized governance model. Holders of its native token have the ability to vote on governance proposals, ensuring a community-driven approach.
The platformโs key offerings include the Bento Box, a token vault that generates yield on deposited assets. Kashi lending is another notable product, allowing users to create custom lending and margin trading markets in a gas-efficient manner. MasterChef V2, a liquidity provision program, manages over $1 billion in assets. Additionally, Miso provides projects with the opportunity to launch and trade tokens on the SushiSwap exchange, with flexible options such as fixed price or Dutch auction formats.
The decentralized exchange platform was initially created by a developer using the pseudonym Chef Nomi. After launching the project, Chef Nomi eventually stepped away, transferring control to two other pseudonymous developers known as sushiswap and 0xMaki. These developers continued to build and expand the platform’s features and business operations. Later, ownership of SushiSwap was handed over to Sam Bankman-Fried, the CEO of FTX, a well-known centralized cryptocurrency exchange.
