Decentralized Exchange Sushi Ventures Beyond Ethereum by Expanding to Aptos
The decentralized crypto exchange Sushi is expanding to the Aptos blockchain. The team noted that the move marks Sushi’s first expansion onto a non-EVM blockchain.
Sushi is a decentralized exchange (dex) and automated market maker (AMM) built on the Ethereum blockchain. It allows users to trade crypto assets and provide liquidity in return for rewards. The dex also has a native governance token called SUSHI.
According to the announcement, “This expansion to Aptos not only unlocks a new level of deep liquidity across major blockchain networks but also significantly elevates the cross-chain trading experience.” Sushi’s team insists the decision will strengthen its leading cross-chain position by spreading to Aptos.
Sushi was once a top dex but volume has dropped considerably over the past few years. Defillama statistics show that the dex platform has $347.23 million total value locked across various protocols. Sushi’s TVL has also lost a great deal of value since November 2021, after holding more than $8 billion.
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