Decentralized Exchange Sushi Ventures Beyond Ethereum by Expanding to Aptos
The decentralized crypto exchange Sushi is expanding to the Aptos blockchain. The team noted that the move marks Sushi’s first expansion onto a non-EVM blockchain.
From Ethereum to Aptos
Sushi is a decentralized exchange (dex) and automated market maker (AMM) built on the Ethereum blockchain. It allows users to trade crypto assets and provide liquidity in return for rewards. Launched on August 28, 2020, The dex also has a native governance token called SUSHI.
“By leveraging Aptos’s Move programming language, Sushi is initially introducing its v2 Automated Market Maker (AMM), with more integrations to come,” Sushi said in its announcement. The Sushi team believes the Aptos integration will unlock deeper cross-chain liquidity and elevate the trading experience across chains.
Aptos is a new layer one (L1) blockchain focused on scalability and claims to provide reliability, security, and usability. Its Move programming language enables developers to build Web3 applications in a different fashion. As a non-EVM chain, Aptos represents new territory for Sushi, the developers remarked.
According to the announcement, “This expansion to Aptos not only unlocks a new level of deep liquidity across major blockchain networks but also significantly elevates the cross-chain trading experience.” Sushi’s team insists the decision will strengthen its leading cross-chain position by spreading to Aptos.
Sushi was once a top dex but volume has dropped considerably over the past few years. Defillama.com statistics show that the dex platform has $347.23 million total value locked across various protocols. Sushi’s TVL has also lost a great deal of value since November 2021, after holding more than $8 billion.
What do you think about Sushi expanding to the L1 blockchain Aptos? Share your thoughts and opinions about this subject in the comments section below.
