SushiSwap Casino Guide Best SUSHI Casinos of 2023

SushiSwap is a result of a fork of a well known platform called Uniswap. Like Uniswap, SushiSwap platform is an automated market maker. Automated market makers allow users to create a trading pair of any given cryptocurrency token via smart contracts. Platforms as such have become increasingly more popular throughout the years, due to the higher demand and interest in cryptocurrency.

The key difference between Uniswap and SushiSwap is in the fact that Uniswap closed their token off from yield farming, while you are still allowed to do that in SushiSwap with incredibly high rewards. In some pools they even reach up to 80% of annual percentage yield (APY). Annual percentage yield refers to the amount of money received and it concerns the money that you put into your wallet and the gained interest. In addition, SushiSwap has a reward program for their liquidity providers, where they are able to gain 0.25 % of pool fees, on top of that 0.05 % is paid to SushiSwap token holders, out of the total of 0.3%, which SushiSwap collects as gas fees from every transaction.

On top of that the whole user experience is different when comparing the two platforms. Uniswap is more of a traditionally styled platform regarding design, whereas SushiSwap makes it look like you’re in a restaurant ordering sushi.

To sum up, SushiSwap is used for swapping, borrowing, lending, staking and farming cryptocurrency. On top of that, like with the majority of crypto projects SushiSwap is also a governance token, which allows holders to vote on the future of the project. The more tokens they hold, the more voting power they have.

1. Decentralization:SushiSwap was created in mid 2020. It is a decentralized exchange, which is native to the Ethereum blockchain. SushiSwap is also an ERC-20 token, which means that it can be stored and sent to any wallet that supports this standard.
2. Safety: In September 2020 SushiSwap developers almost made a rug pull. Rug pull is a term used for when the development team behind the project decides to collect funds (in this case 38,000 ETH) and leave unexpectedly. This was done by Chef Naomi, who later decided to return the funds. However, due to the loss of trust from the community, the ownership was given to Sam Bankman-Fried. SushiSwap has a bug bounty program, where in exchange for a bug report they offer users a certain amount of assets. The amount of the reward depends on the severity of the discovered malfunction and the quality of the report. In addition, any additional information that you provide is also considered for a bigger reward.
3. Scalability: Ethereum blockchain is very popular and has quite a high congestion. As a result, the fees can skyrocket, which opts a lot of projects that are built on it to introduce a scaling solution. SushiSwap uses Layer 2 scaling solution provided by Arbitrum for the exchange. Initially they were supposed to go with Optimism like Uniswap, however that decision went down the drain when the project wasn’t being treated as an equal to Uniswap. Arbitrum allows SushiSwap to make computing off-chain which, as a result, substantially lowers gas fees.

The fee price for SushiSwap is set to 0.3 %. However, the demand for network and transaction data size can impact on the outcome of the transaction; meaning if it went through. In case it didn’t, you might have to increase the amount of gas fees you’re paying.

One SUSHI is currently worth about $4.7. The coin, however, reached its peak at $22.9 in early 2021. The coin itself is quite volatile when compared to some of the other cryptocurrencies. The fees, though, are not as high, when compared to some of the other Ethereum blockchain based tokens, because SushiSwap is using a scaling solution which makes them significantly lower.

SushiSwap has its very own SUSHI NFT marketplace called Shoyu, which quite an esthetically pleasing platform. The platform itself offers multiple 3d gallery types where users can feature their work, by displaying the SushiSwap NFTs.