JAKARTA – SushiSwap is a decentralized crypto exchange or CEX that uses the Ethereum network like Uniswap. SusiSwap also has its own native token, SUSHI.
Reported by Dailycoin, SushiSwap is reportedly releasing Trident Automated Market Maker (AMM) on the Polygon blockchain. The launch could be said to be SushiSwap's attempt to set a new standard for other buildable AMMs available in Phase-1 beta.
Despite being presented as an AMM, Trident itself is not a specific AMM and is more of a production framework for building and deploying AMMs, the official announcement says.
For information, AMM or automated market makers are part of a decentralized exchange (DEX) which was introduced to remove middlemen in trading crypto assets. You can think of AMM as a computer program that automates the process of providing liquidity, as reported by CNBCTV18.
Just a reminder, most AMMs that exist today operate as decentralized and autonomous technologies that allow liquidity operations on decentralized exchanges or liquidity pools.
According to the SushiSwap team, the concept behind this framework is to consolidate multiple hard-coded swap environments that typically require the same underlying method to offer a single interface or interface.
"By incorporating it into the interface, the development process can occur faster at the community level," said SushiSwap.
Introduced as the next generation AMM in 2021, Trident will also have to set new standards for how liquidity pools are created using the IPool interface, which extends to every trident protocol and is at the core of the Trident framework.
“This type of pool has reached full saturation point in the Ethereum development environment, and they would benefit from consolidation into an interface that allows developers to make progress faster, collectively,” the creators claim. “Just as the ERC-20 token standard is needed for token types to be efficient, the IPool standard is needed to make pool types more efficient,” they said.
As stated, the first phase finishes with Trident's classic pool available for review on blockchain Polygon. The team says it will be moved to another blockchain once the security tests are complete.
The crypto market reacted positively to the news with the hope that the launch of Trident will help increase liquidity in the Polygon network and contribute to the growth of the SushiSwap ecosystem.
The price of the SUSHI token jumped nearly 8 percent US at the launch of the Trident AMM. The price of SushiSwap is still 87 percent lower than its all-time high price (ATH) at IDR 336,421 which was recorded in March 2021.
At the time of writing the price of SUSHI is trading at Rp.44,413. In the last 24 hours, SUSHI has increased by 4.8 percent, according to data from Coingecko.
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