$ 0.7876 USD
$ 0.7876 USD
$ 192.003 million USD
$ 192.003m USD
$ 13.294 million USD
$ 13.294m USD
$ 128.907 million USD
$ 128.907m USD
261.223 million SUSHI
Issue Time
2020-08-29
Platform pertained to
--
Current price
$0.7876USD
Market Cap
$192.003mUSD
Volume of Transaction
24h
$13.294mUSD
Circulating supply
261.223mSUSHI
Volume of Transaction
7d
$128.907mUSD
Change
24h
-4.89%
Number of Markets
867
More
Warehouse
SushiSwap
Github's IP Address
[Copy]
Codebase Size
26
Last Updated Time
2021-01-03 11:03:09
Language Involved
--
Agreement
--
Current Rate0
0.00USD
3H
+0.78%
1D
-4.89%
1W
-1.89%
1M
+12.44%
1Y
+35.04%
All
-92.82%
Aspect | Information |
Short Name | SUSHI |
Full Name | SushiSwap |
Founded Year | 2020 |
Main Founders | Anonymous individual or individuals operating under the alias 'Chef Nomi' |
Support Exchanges | Binance, Coinbase Pro, OKEx, Huobi Global, FTX and others |
Storage Wallet | Metamask, Trust Wallet, Ledger, WalletConnect |
Customer Support |
SushiSwap, commonly known as SUSHI, is a decentralized cryptocurrency token launched in 2020. The identities of its main founders remain anonymous, known to the public only by the pseudonym 'Chef Nomi'. The SUSHI token operates on various exchanges including Binance, Coinbase Pro, OKEx, Huobi Global, and FTX, among others. Different digital wallets that support SUSHI include Metamask, Trust Wallet, Ledger, and WalletConnect.To obtain more information, you can visit their website:通证官网 and try to log in or register to use more services.
Pros | Cons |
Decentralized Finance (DeFi) token | Anonymity of founders might raise trust issues |
Supported by multiple exchanges | High volatility, common in cryptocurrency market |
Various storage wallet options | Requires knowledge of blockchain technology |
Associated with Yield Farming | May be affected by regulatory measures |
Staking rewards offered | Token value can be influenced by market speculation |
Pros of SUSHI Token:
1. Decentralized Finance (DeFi) Token - SUSHI belongs to the DeFi category, which means it allows direct and open financial transactions between parties without the use of traditional financial intermediaries, such as banks, brokerages, or insurance companies.
2. Supported by Multiple Exchanges - This means the SUSHI token can be traded on many different cryptocurrency exchanges, allowing for greater accessibility and liquidity.
3. Various Storage Wallet Options - Several prominent digital wallets support SUSHI, making it easier for users to store and manage their tokens. These include Metamask, Trust Wallet, Ledger, and WalletConnect.
4. Associated with Yield Farming - Yield farming is a way to potentially earn rewards on cryptocurrency holdings, often through providing liquidity to decentralized exchanges. SUSHI is one token associated with these practices.
5. Staking Rewards Offered - Aside from yield farming, SUSHI offers additional incentives via staking rewards for those willing to lock their tokens for a certain period.
Cons of SUSHI Token:
1. Anonymity of Founders - The founders of SUSHI are anonymous, which may raise trust issues as accountability and transparency often influence investor decision-making.
2. High Volatility - Like many cryptocurrencies, SUSHI experiences significant price volatility. This means that the value of SUSHI tokens can change rapidly in a very short time, making it possible for investors to experience significant gains or losses.
3. Requires Knowledge of Blockchain Technology - To navigate the usage of SUSHI tokens effectively, an understanding of blockchain technology and cryptocurrency protocols is necessary, which may be a barrier for new or less technically-versed users.
4. May be Affected by Regulatory Measures - As governments worldwide grapple with how to regulate cryptocurrency, adverse or restrictive regulatory actions could potentially impact SUSHI's operations or value.
5. Token Value Can be Influenced by Market Speculation - Like most cryptocurrencies, SUSHI's value might be driven more by market speculation than intrinsic value. This susceptibility can lead to price volatility.
SushiSwap, or SUSHI, brought a number of innovations to the world of decentralized finance (DeFi), one of which is the concept of a decentralized exchange (DEX). Unlike many cryptocurrencies, it operates on an Automated Market Maker (AMM) model, where trading pairs are formed into liquidity pools. This feature helps to solve the liquidity problem usually encountered by many DEXs.
One distinct feature of SushiSwap from other similar platforms is its 'sushi bar' where SUSHI holders can stake their tokens in return for a portion of the exchange's trading fees. This model aligns the interests of the platform's liquidity providers with that of SUSHI holders, creating a unique profit-sharing structure that is not commonly found in many other cryptocurrencies.
Another innovative aspect of SushiSwap is its governance model. SUSHI holders have the right to vote on critical protocol decisions, such as fee structures, token economics, or even future development proposals.
However, while these features distinguish SushiSwap from many other cryptocurrencies, they also add a layer of complexity and risk. The anonymous nature of the founders can increase risks due to the lack of accountability. Also, staking tokens in exchange for potential rewards introduces an element of risk because tokens may potentially be tied up during times of high volatility or loss.
The total supply of SUSHI is 2.5 billion tokens. As of 2023, the circulating supply is 1.9 billion tokens.The issuance of SUSHI is scheduled to follow an exponential curve, with the total supply capped at 2.5 billion tokens. This means that the issuance of SUSHI will slow down over time. The price of SUSHI has fluctuated significantly in recent years. The high price of $2.38 USD was reached in September 2021. The low price of $0.05 USD was reached in July 2022.
SushiSwap, known as SUSHI, doesn't operate in a traditional mining process like Bitcoin or other Proof-of-Work cryptocurrencies. Instead, it operates on the Ethereum network and follows a DeFi protocol.
The creation of new SUSHI tokens happens through a process known as Yield Farming or Liquidity Mining. In this process, users provide liquidity to SushiSwap's liquidity pools and, in return, earn a proportional share of SUSHI tokens.
SushiSwap does not use mining software or mining equipment like Bitcoin, where high computational power is needed to solve complex problems. Rather, it utilizes smart contracts on the Ethereum network and depends on the participation of users in the network who stake their tokens in liquidity pools.
The term ‘mining speed’ does not apply to SushiSwap in the same way it does with Bitcoin. Bitcoins mining speed relates to the time it takes to validate a new block in the blockchain, which typically takes about 10 minutes. For Sushi, the earning of new tokens is not done via the block validation process, but through providing liquidity.
Processing transactions on SushiSwap, like many other decentralized exchanges, can be faster than on Bitcoin's network because it is not limited by block confirmation times. However, it's worth noting that the speed can be affected by the Ethereum network's congestion level and gas fees, which are fluctuating costs for executing transactions and smart contracts.
So, the principles of working with SUSHI differ significantly from mining cryptocurrencies like Bitcoin. The key operating principle revolves around participation in the DeFi ecosystem, providing liquidity, and earning yield, rather than computational mining.
SushiSwap (SUSHI) can be bought on a number of cryptocurrency exchanges. These include major international platforms such as Binance and Coinbase Pro, known for their extensive user base and high liquidity. OKEx and Huobi Global also support SUSHI transactions, boasting comprehensive services for crypto traders including spot trading, futures trading, and more. FTX, another exchange offering SUSHI, is noted for its unique derivatives products. Please note that availability can depend on the specific jurisdiction and regulations of each platform.
Storing SushiSwap (SUSHI) involves the use of cryptocurrency wallets that support Ethereum-based tokens, as SUSHI is an ERC-20 token.
1. Software Wallets: These are application-based wallets that can be installed on your devices, such as smartphones or computers. An example is Metamask, a popular browser extension that serves as an Ethereum wallet and supports all ERC-20 tokens, including SUSHI. Trust Wallet is another versatile ERC-20 compatible software wallet, and it also offers a mobile-friendly interface.
2. Hardware Wallets: These are physical devices designed to secure cryptocurrencies offline, making them less vulnerable to hacking attempts. Ledger is a well-known hardware wallet brand that supports a wide range of cryptocurrencies including SUSHI.
3. Web-based Wallets: Web-based wallets run on internet browsers and allow access from multiple devices with internet connectivity. WalletConnect, an open-source protocol, offers a web-based alternative that can safely link your wallet to the DeFi world, and is compatible with SUSHI tokens.
While storing tokens, always remember to keep your private keys confidential and secure, as anyone with these keys can access your assets.
SushiSwap (SUSHI) token is primarily suitable for individuals interested in the world of decentralized finance (DeFi), particularly those who wish to participate in providing liquidity to trading pair pools, staking, yield farming, or earning staking rewards in a decentralized exchange ecosystem.
Prospective buyers should take note of the following:
1. Level of Experience: The suitability largely depends on one's level of experience and understanding of the complexities of the DeFi space and knowledge of quite intricate financial structures.
2. Risk Tolerance: The value of SUSHI, like many cryptocurrencies, can be volatile and susceptible to large price swings. Prospective buyers should have a high risk tolerance.
3. Long-Term Orientation: SUSHI token holders can receive rewards by providing liquidity or staking their SUSHI tokens over a longer time horizon. These are not typically short-term trading strategies.
4. Anonymity of Founders: Potential buyers must also be comfortable with the inherent risk linked to the anonymous nature of SushiSwap's founders.
Advice for those considering buying SUSHI:
1. Do Your Research: Understand SushiSwap's unique features like yield farming and liquidity provision, and the risks and benefits associated with them.
2. Be Mindful of Volatility: Be prepared for price volatility and do not invest more than you're willing to lose.
3. Engage in Safe Practices: Store your SUSHI in secure wallets and never share your private keys or sensitive data.
4. Stay Informed: Keep up with news about changing regulations in the cryptocurrency landscape, as they can influence the token's value.
5. Consult a Financial Advisor: Always consider seeking advice from a financial advisor or cryptocurrency expert, particularly if you're new to the DeFi sector.
Remember, while the DeFi sector offers significant potential, it also comes with considerable risks. As always, the principle “don't invest more than you can afford to lose” applies.
SushiSwap (SUSHI) is a prominent player in the decentralized finance (DeFi) sector, offering users the ability to participate in yield farming and liquidity provisioning. With the integration of these features, SUSHI stands out among the multitude of other cryptocurrencies. While the SUSHI token has the potential for profitability, like staking rewards and sharing in the exchange's trading fees, it depends significantly on the market dynamics and user participation in SushiSwaps ecosystem.
SushiSwap's development prospects remain closely tied to the broader trends in the DeFi sector, Ethereum's network development, as well as regulatory changes in the cryptocurrency space. As more individuals and institutions become interested in DeFi, SushiSwap could potentially see further adoption. However, like all cryptocurrencies, SUSHI comes with risks, including high price volatility and regulatory uncertainties.
Potential for appreciation is fundamentally speculative and depends on various factors including user adoption, market demand, tokenomics, and wider market sentiment. It's essential for anyone interested in SUSHI to conduct robust due diligence and seek professional advice before investing. It's worth repeating, investments in cryptocurrencies should only be undertaken with risk capital that an individual can afford to lose entirely.
Q: What is the SUSHI token?
A: SUSHI is a decentralized cryptocurrency token associated with SushiSwap, a decentralized exchange that operates on the Ethereum network.
Q: Who is the creator of SushiSwap?
A: SushiSwap was created by anonymous developers known publicly only as 'Chef Nomi'.
Q: How can SUSHI tokens be obtained?
A: SUSHI tokens can be obtained through different cryptocurrency exchanges like Binance or Coinbase Pro, or earned through yield farming and providing liquidity on the SushiSwap platform.
Q: What types of wallets support SUSHI tokens?
A: SUSHI tokens, as ERC-20 tokens, can be stored in numerous wallets, such as software wallets (Metamask, Trust Wallet), hardware wallets (Ledger), and web-based wallets (WalletConnect).
Q: What sets SushiSwap apart from other cryptocurrencies?
A: SushiSwap is particularly noted for its yield farming feature, governance model, and the alignment of interests between SUSHI holders and the platform's liquidity providers.
Q: What should potential buyers of SUSHI consider?
A: Potential buyers should factor in their understanding of DeFi practices, risk tolerance, long-term investment orientation, and be comfortable with the anonymous nature of SushiSwap's founders.
Q: Do SUSHI tokens have speculative potential?
A: Although SUSHI tokens have shown potential for profitability through mechanisms like staking rewards, their future value like many cryptocurrencies, relies on factors such as market demand, user adoption, and global crypto regulations.
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