SushiSwap SUSHI/USD was created by a pseudonymous individual or individuals collectively called Chef Nomi. It is software running on Ethereum that incentivizes a network of users to operate a platform where they can buy and sell cryptocurrency assets.
It uses a collection of liquidity pools, where users need to lock up the assets into smart contracts, and traders can then buy and sell cryptocurrencies in the pools, swapping out one token for another token in the process.
In the SushiSwap Farms, liquidity providers contribute to the SushiSwap pools by connecting their Ethereum wallets to the farming software where they lock up their assets in a smart contract.
SushiSwap’s cryptocurrency known as SUSHI plays a role in maintaining as well as operating the network.
Users that hold SUSHI have a hand in the governance of the protocol by being able to vote on proposals that can potentially improve the entire ecosystem and anyone can submit a proposal for users to vote on. Users that hold SUSHi can also earn a portion of the fees that are generated by the network by staking them in the xSUSHI pool.
SushiSwap’s Evolution
On May 31st, SushiSwap made a move to the Layer 2 scaling platform Arbitrum in an attempt to avoid the costly network fees Ethereum has. Arbitrum launched to mainnet on May 28.
On June 10, SushiSwap announced a collaboration with Karate Combat, the global leader in full-contact professional karate competition. This collaboration is intended to bring SushiSwap into the Karate Combat fight scene for the first four episodes of the Karate Combat Season Three set to premiere in July.
On June 11, Volatility Protocol announced that
