Insights

Spotlight – SushiSwap (SUSHI)

Who doesn’t like Sushi? SushiSwap was founded by an infamous internet character known only as Chef Nomi who was recently in some hot water over an alleged ExitScam. In the end Nomi returned $14M to a development fund apologizing for the mistake. Little is known about Chef Nomi and he is no longer the head of SUSHI

SushiSwap is an Automated Market Maker (AMM), through which automated trading liquidity is set up between any two cryptocurrency assets. AMMs do away with order books while avoiding problems such as liquidity issues that hamper the traditional decentralized exchanges.

The platform takes a 0.3% cut from all transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights.

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