SushiSwap

About

SushiSwap is a decentralized exchange (DEX) and liquidity provider platform that allows users to trade cryptocurrencies in a permissionless manner. Launched in August 2020, it operates on the Ethereum blockchain and supports multiple other blockchain networks like Polygon, Avalanche, and Binance Smart Chain. SushiSwap uses an Automated Market Maker (AMM) model, which relies on liquidity pools instead of traditional order books. Users contribute to these pools by depositing token pairs, earning fees from trades and potentially SUSHI tokens as incentives. SushiSwap's native token, SUSHI, plays a crucial role in governance and rewards. Holders can participate in voting and receive a portion of transaction fees. The platform offers various features such as Onsen for liquidity incentives, MISO for token launches, and Kashi for lending and borrowing. SushiSwap's decentralized nature means no central authority controls transactions, making it a community-driven DeFi protocol. It supports cross-chain swaps through features like SushiXSwap, enhancing its versatility in the DeFi ecosystem.