1. BITBILIHome
  2. Article

Sushiswap announces expansion to layer-1 blockchain Aptos

• 97 views

TL;DR Breakdown

  • Decentralized exchange SushiSwap has announced an expansion to layer-1 blockchain Aptos.
  • Enhancing cross-chain trading with the move.

Description

SushiSwap, one of the pioneers in the decentralized exchange (DEX) space, has recently made a significant move by expanding its services to the Layer-1 blockchain Aptos. This strategic integration represents a milestone for SushiSwap as it marks its first foray into a blockchain ecosystem that is not compatible with the Ethereum Virtual Machine (EVM). Until … Read more

SushiSwap, one of the pioneers in the decentralized exchange (DEX) space, has recently made a significant move by expanding its services to the Layer-1 blockchain Aptos. This strategic integration represents a milestone for SushiSwap as it marks its first foray into a blockchain ecosystem that is not compatible with the Ethereum Virtual Machine (EVM). Until now, SushiSwap had primarily operated on EVM-compatible blockchains, including Ethereum, Arbitrum, Base, Polygon, Fantom, BNB Chain, and others.

SushiSwap keys into Aptos’ diversification plans

This expansion to Aptos signifies the project’s ambition to diversify its cross-chain presence and unlock new opportunities for liquidity and growth. Aptos, the chosen Layer-1 blockchain for this expansion, is designed with a strong focus on scalability, reliability, security, and usability. The platform is built to empower developers to create innovative web3 applications that cater to the evolving needs of users. At the core of Aptos lies the Move programming language, which simplifies the development of secure and efficient smart contracts.

SushiSwap’s decision to integrate with Aptos is not only a testament to the blockchain’s potential but also an indicator of the growing importance of cross-chain interoperability in the decentralized finance (DeFi) landscape. Let’s delve deeper into the implications and possibilities this move presents. SushiSwap has made a name for itself as a decentralized exchange platform with significant Total Value Locked (TVL) on various EVM-compatible blockchains, boasting a total of $350 million TVL at the time of the expansion announcement. A substantial portion of this TVL, approximately $267 million, was on the Ethereum network.

The move to Aptos with its comparatively lower TVL of $45 million, as reported by DefiLlama, opens up new avenues for SushiSwap to attract liquidity and expand its footprint. This shift can potentially attract fresh capital inflows, making SushiSwap a more competitive player in the world of non-EVM chains, where projects like Solana, Mixin, and Osmosis have already established themselves. Aptos, the blockchain chosen by SushiSwap for its expansion, is an intriguing platform with a unique value proposition. It was developed by former Meta (formerly Facebook) employees and rolled out its native APT token, gaining a market cap of over $1 billion.

Enhancing cross-chain trading with the move

Despite its impressive market cap, Aptos has faced challenges in attracting a significant portion of DeFi Total Value Locked. SushiSwap’s decision to join the Aptos ecosystem could potentially provide the blockchain with the much-needed boost it requires to gain more attention within the DeFi space. At the heart of Aptos lies the Move programming language, which holds immense potential for smart contract development. Move is designed to simplify the creation of secure and efficient smart contracts, addressing the pressing need for robust and trustworthy DeFi applications.

With Move, developers on the Aptos blockchain can build innovative solutions that cater to user demands while prioritizing security. This programming language is set to play a pivotal role in shaping the DeFi landscape on Aptos and could be a key factor in attracting developers and projects to the platform. SushiSwap’s expansion to Aptos is not just about increasing its presence but also about improving the cross-chain trading experience. By offering SushiSwap’s v2 Automated Market Maker (AMM) and SushiXswap, a cross-chain swap solution, on the Aptos blockchain, users will have access to deeper liquidity across major blockchain networks.

This move aligns with the broader industry trend of improving cross-chain compatibility and providing users with seamless access to assets and trading opportunities across different blockchains. It enhances the flexibility and convenience of DeFi users who can now trade assets on SushiSwap across various networks, ultimately contributing to the project’s growth and adoption. SushiSwap’s expansion to Aptos signifies a strategic move towards diversifying its cross-chain presence and embracing a blockchain ecosystem that prioritizes scalability, reliability, security, and usability.

This decision not only opens up new opportunities for liquidity but also strengthens SushiSwap’s position in the cross-chain/m ulti-chain landscape. As the DeFi space continues to evolve, projects like SushiSwap embracing cross-chain compatibility are at the forefront of driving innovation and expanding the horizons of decentralized finance. With its history of success and commitment to providing users with the best possible experience, SushiSwap’s venture into Aptos is poised to have a lasting impact on the DeFi landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Sushiswap announces expansion to layer-1 blockchain Aptos

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月12日 04:01
Next 2023年9月12日 05:34

Related articles

  • Bitcoin miners earn big as BRC-20 tokens boost transaction fees

    TL;DR Breakdown Bitcoin miners are winning big in terms of revenue following a massive boost in transaction fees. Miners experience increased demand for BRC-20 tokens. Description Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed … Read more Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed that Bitcoin miners earned $184 million in transaction fees from April to June, marking a notable shift in the previously tepid fee market. While this figure may appear small compared to the overall $2.4 billion in Bitcoin mining revenue during that…

    Article 2023年7月8日

  • Liquity price analysis: LQTY steps down to $1.34 as selling pressure rises

    TL;DR Breakdown Liquity price analysis is strongly bearish today. Resistance is present at $1.42. The support for LQTY is present at $1.21. Today’s Liquity price analysis leans towards bears, driven by an observed decrease in price. The market follows a bearish trend, facing losses as the price remains below $1.45 and descends to $1.34. The strengthening bearish momentum suggests a possible further decline. LQTY/USD 1-day price chart: Bearish sentiment prevails as Liquity price analysis points to a decrease in value. The bearish trend confirmed in the latest one-day Liquity price analysis is causing the price to decline once again. At the time of writing, the LQTY/USD pair is trading at $1.34 as selling pressure dominates the market and bearish momentum resurfaces. Despite this, the crypto pair still shows a 3% increase over the last 24 hours and impressive gains of 13% over the past week. Additionally, the trading volume has risen by 52%, resulting in a market dominance of 0.01%. lqt1dfr The volatility is on the rise, with the upper limit of the Bollinger bands at $1.94 and the lower…

    Article 2023年5月18日

  • Upland takes philanthropy to the metaverse: NFTs to support equitable playground access

    TL;DR Breakdown Upland is launching an NFT collection to fundraise for KABOOM!, a non-profit that builds playgrounds in historically underserved neighborhoods. This initiative, blending metaverse assets with tangible charitable goals, marks Upland’s continued efforts in digital philanthropy, following previous successful collaborations with UNICEF Brazil. Description In a move showcasing the possibilities of the virtual realm merging with tangible world projects, Upland, a renowned metaverse platform mapped to real-world locations, is paving the way for charitable endeavors in the digital space. This time, the focus is on ensuring that children across historically disadvantaged neighborhoods have access to playgrounds. Metaverse’s in-game map … Read more In a move showcasing the possibilities of the virtual realm merging with tangible world projects, Upland, a renowned metaverse platform mapped to real-world locations, is paving the way for charitable endeavors in the digital space. This time, the focus is on ensuring that children across historically disadvantaged neighborhoods have access to playgrounds. Metaverse’s in-game map assets, akin to NFTs, play a pivotal role. Contents hide 1 Metaverse meets philanthropy: Upland’s unique approach 2 Playgrounds for a cause:…

    Article 2023年9月23日

  • Prominent trader Brandt says Bitcoin halving and ETF are negligible events

    TL;DR Breakdown Prominent trader Brandt has argued that the eagerly anticipated U.S. approval of a Bitcoin ETF and the impending halving will not be significant events. He argues that the success of Bitcoin depends on its dominance over other currencies and assets rather than external correlations. Description Peter Brandt, a well-known trader and market analyst, has expressed differing opinions on two Bitcoin events. He argues that the eagerly anticipated U.S. approval of a Bitcoin ETF and the impending halving will not be significant events. This viewpoint goes against the general market mindset, which anticipates these occurrences as major market movers. Brandt dismisses … Read more Peter Brandt, a well-known trader and market analyst, has expressed differing opinions on two Bitcoin events. He argues that the eagerly anticipated U.S. approval of a Bitcoin ETF and the impending halving will not be significant events. This viewpoint goes against the general market mindset, which anticipates these occurrences as major market movers. Brandt dismisses Bitcoin halving and ETF approval impact Brandt has objected to the excitement around two crucial Bitcoin events: the impending halving…

    Article 2023年7月29日

  • Should Americans brace themselves for another 2008-like recession?

    TL;DR Breakdown There’s growing concern about an upcoming recession among Americans, but experts predict it to be mild. Despite some indicators pointing towards a recession, the current robust jobs market contradicts these fears. Consumers are anxious due to high inflation and recent job cuts. As interest rates rise, savers stand to gain while those in debt may struggle. Description The financial landscape of America is a complex machinery, often oscillating between periods of prosperity and recessions. Recently, anxiety has been rising among the populace with 68% anticipating a recession in the forthcoming months, as per a Nationwide survey. These apprehensions beg the question: should we brace ourselves for a recession akin to the 2008 … Read more The financial landscape of America is a complex machinery, often oscillating between periods of prosperity and recessions. Recently, anxiety has been rising among the populace with 68% anticipating a recession in the forthcoming months, as per a Nationwide survey. These apprehensions beg the question: should we brace ourselves for a recession akin to the 2008 financial crisis? The economics of uncertainty Currently, there…

    Article 2023年7月10日
TOP