Sushi has announced its expansion to Aptos, a Layer 1 blockchain renowned for its scalability, reliability, security, and usability. This integration is a significant milestone for Sushi as it marks the platform’s first foray into a non-Ethereum Virtual Machine (EVM) chain. With the launch of Sushi v2 Automated Market Maker (AMM) and SushiXswap, the platform is set to enhance its position as a leader in the cross-chain and multi-chain landscape.
Sushi Marks First Non-EVM Integration
Sushi is broadening its horizons by venturing into the Aptos blockchain ecosystem, a significant move as it’s the first instance of the DeFi platform collaborating with a blockchain not inherently aligned with the Ethereum Virtual Machine (EVM).
In this strategic expansion, Sushi will introduce its upgraded Version 2 Automated Market Maker (AMM) to the Aptos network. Also, Sushi will launch its SushiXswap on the Aptos network. The Sushi v2 AMM is an upgraded version of its predecessor, designed to offer more efficient and secure trading. With features like lower fees and improved liquidity pools, the v2 AMM is expected to attract a broader user base, thereby increasing the overall trading volume on the platform.
On the other hand, SushiXswap is Sushi’s cross-chain swap service that allows users to seamlessly trade assets across different blockchains. The integration with Aptos will enable SushiXswap to leverage the Layer 1 blockchain’s capabilities, offering users a faster and more reliable trading experience.
The Sushi team said, “This integration marks the first non-EVM chain for Sushi. The first-ever non-EVM integration with Aptos is key to advancing Sushi’s goals for cross-chain and multi-chain prominence.”
Aptos is a Layer 1 blockchain engineered for secure development, with a central focus on enhancing user experience. Utilizing its proprietary Move programming language, Aptos equips developers with the tools to craft Web3 applications that address contemporary consumer demands. Specifically designed for smart contracts, Move enables developers to build applications that are not only secure and efficient but also easy to develop.
Sushi Enhances Cross-Chain DEX Experience
With an increasing number of blockchains and associated assets coming into existence, the ability to effortlessly move and trade these assets across various chains is crucial for the overall health and expansion of the DeFi space.
For the average user, navigating different blockchains, each with its own set of wallets and interfaces can be a tough job. A DEX like Sushin with robust cross-chain features can now offer a unified, user-friendly experience. Operating on a single chain exposes traders and the exchange itself to systemic risks associated with that particular blockchain. Cross-chain functionality allows for diversification, spreading the risk and making the ecosystem more resilient.
Sushi is already operational on key EVM-compatible chains such as Ethereum, Fantom, Polygon, Arbitrum, and BNB Chain, among others. Despite recent declines in the DeFi industry and Uniswap’s stronghold in the DEX arena, SushiSwap has shown recovery. The latest data reveals that the platform is experiencing growth even amidst the current market challenges.
According to data, the TVL has been surging since June, currently trading at $12.5 million. In spite of the protocol’s fluctuating performance, governance has been proactive in taking steps to enhance its condition.
A recent proposal aimed at enhancing liquidity in one of its pools received approval from Sushi’s governance. DWF Labs, an international digital asset market maker, suggested a partnership to improve V3 liquidity and deepen SUSHI token trading.
This collaboration entails adding a minimum of $1.6 million in extra liquidity to trading pairs such as WETH/USDT, WETH/USDC, and LDO/WETH. DWF Labs has pledged to progressively grow its market share—targeting 3% in the first three months, 6% in six months, and 10% within nine months.
