During a conference given in Miami, the “Head Chef” of Sushi Swap announced the desire to launch a perpetual futures trading platform on Sei Network. This is part of the DEX’s desire to develop its field of activity.
SushiSwap interested in Sei Network
Some time after asserting its desire to expand its field of activity, the decentralized cryptocurrency exchange platform (DEX) SushiSwap (SUSHI) has announced the launch of a perpetual futures exchange on Sei Network.
Sushiswap is launching a perpetual futures exchange on the Sei Network to expand into non-Ethereum-based ecosystems. As a part of the Cosmos ecosystem, Sei is a new Layer 1 blockchain that specializes in decentralized trading applications. TheBlock https://t.co/SdMsoQy8ol
—Wu Blockchain (@WuBlockchain) January 26, 2023
The information was revealed by our colleagues from The Block and taken from an intervention by Jared Grey, head of the SushiSwap Foundationat a conference in Miami:
“We work hand in hand with them [Sei Network] on the development resources that need to be allocated from their side so that Sushi can leverage what they have built and more importantly that we can provide value to them, as a brand, in return. »
As a reminder, Sei Network is a new layer-1 type blockchain which thrives on the Cosmos ecosystem. This network specializes in optimizing transaction processing and more specifically for decentralized trading platforms.
Note that this new blockchain is still in the test phase, but an airdrop has already been announced. To find out the steps to follow to become eligible, join our Cryptoast Research group and discover all the analyzes and tips from our DeFi experts.
Progress in the world of cryptocurrencies with Cryptoast experts 📘
This initiative will allow SushiSwap to break out of the Ethereum (ETH) ecosystem and venture into a new area, different from the decentralized finance sector. This is part of a greater ambition to develop new activities and give a more important role to its governance token, the SUSHI.
Moreover, perpetual futures are on the rise and rank eighth among protocol categories in terms of blocked value. According to DefiLlama, they are around 1.3 billion dollars and are constantly gaining ground. It is undeniable that SushiSwap wants to ride this wave to expand its field of activity.
👉 To go further – The CEO of SushiSwap wants to multiply by 10 the market shares of his DEX for 2023
The No. 1 exchange in the world – Regulated in France
Binance
-10% off fees with code SVULQ98B 🔥
Source: DefiLlama
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
330 items
;Resize=(1200,627)&impolicy=perceptual&quality=medium&hash=bc8405eefeac5fd9f5b945e1f9a3fd57ebd38b6b51f11462b410fadaf12a034c "Due to a software problem, Volvo is recalling more than 100,000 cars worldwide")