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SushiSwap

Last Updated: January 25, 2024

SushiSwap (Sushi) is an open-source decentralized exchange (DEX) built on Ethereum initially launched as a fork of Uniswap.

The SUSHI token powers the community-driven Sushi project which aims to solve DeFi’s liquidity problems.

 

Background

The DEX was created by the pseudonymous Chef Nomi. Developed as a direct fork of Uniswap v2, Sushi was differentiated by liquidity mining and its on-chain governance token, SUSHI.

Launch

Sushi launched on August 28, 2020 by two pseudonymous users, Chef Nomi and OxMaki. Yearn Finance announced a merger with Sushi later that year. SUSHI tokens started to be released to the market that year and were set for full release by November 2023.

 

How does it work?

Sushi is a community-owned and operated project that uses liquidity pools and smart contracts to execute trades without a centralized authority. It provides SUSHI token holders governance rights.

Sources and Resources

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