Sushiswap (SUSH): Decentralized Exchange Ready To Become Market Leader

Sushiswap developers announce new developments. (Photo; Doc. Cryptoast)

JAKARTA - The popular decentralized exchange Sushiswap (SUSHI) has ambitions to increase its market share tenfold by 2023. This was announced by project CEO Jared Gray in a new blog post.

Grey said that Sushiswap will release its new DEX aggregation router in the first quarter of this year which is expected to increase the volume of project exchanges. This router aggregation will allow users to monitor various decentralized finance protocols (DeFi) on one platform.

According to Gray, the Sushiswap developer has built this aggregation router "in hidden mode" last year. Gray stated that "we believe aggregation helps provide the best user experience by serving users at an optimal price. We take advantage of this innovation by building deeper liquidity in our pool and allowing [users] to benefit from increasing swap volume and fees, by leveraging our Trident framework across networks."

In addition, Gray also said that Sushiswap had taken steps to "safe our runway for multi-year operations." Currently, Sushiswap controls about 2 percent of the AMM (automatic market maker) market and 0 percent of the aggregation market. However, Grey hopes to increase Sushiswap's market share by up to 10x. fold by 2023.

Sushiswap will also launch a decentralized incubator called Sushi Studios, which will encourage independently funded projects to help increase ecosystem growth.

According to Gray, these products help improve the Sushi brand without obstructing the focus of the DEX core [decentralized autonomous organization] DAO, the main historical obstacle to the direction of Sushi horizontal products. SUSHI has a solid and tough brand that represents the best of DeFi [decentralized finance]; with Sushi Studios, we can take advantage of the brand to reach all users."

At the time of writing, SUSHI is trading at a price of Rp. 18,065. Coingecko's data shows that SUSHI has increased by 16 percent. Meanwhile, in the last 24 hours SUSHI tokens fell 5.4 percent.