SushiSwap is a decentraliz! exchange (DEX) protocol launch! in August 2020 by an anonymous developer with the pseudonym “Chef Nomi.” SushiSwap is a DeFi (Decentraliz! Finance) project that runs on the Ethereum blockchain and uses the automat! market maker (AMM) model. The main goal of the project is to provide users with a decentraliz! and secure token swap platform. SushiSwap was develop! bas! on the open source code of the popular DEX protocol Uniswap, but has differentiat! itself by adding some innovative features. The most important of these features was that a portion of the platform’s revenues were distribut! to SUSHI token holders, making it one of the first projects to integrate the concept of “ yield farming ” into DEXs.
SushiSwap’s launch process has generat!
a lot of interest in the DeFi community and has phone number library rapidly gain! popularity. Initially design! to draw liquidity from Uniswap, the “vampire mining” strategy quickly transform! the project into a platform with a large amount of liquidity. However, the crisis that occurr! when Chef Nomi withdrew the project’s development funds was overcome with the community’s intervention and the project management was transferr! to the community members. This event l! to SushiSwap becoming a truly decentraliz! structure.
SushiSwap’s Technical Infrastructure and Operation
SushiSwap is a set of smart contracts with an ERC-20 token standard running on the Ethereum blockchain. The platform’s core operation is bas! on liquidity pools. Users can become liquidity providers by frequently ask! questions about loopring (lrc coin) providing token pairs to these pools. Each pool contains a specific token pair, and the exchange rate between canada cell numbers these tokens is automatically determin! by the amount of tokens in the pool. This system uses a fix!-product market maker model bas! on the formula x * y = k, where x and y represent the amount of tokens in the pool, and k represents a fix! value.