Decentralized exchange, SushiSwap has announced it will be expanding to Aptos.
This leap signifies SushiSwap’s expansion beyond the familiar confines of Ethereum-compatible chains for the very first time.
The integration will introduce Sushi’s cutting-edge v2 Automated Market Maker (AMM) and SushiXswap, reinforcing its dominant position in the ever-evolving cross-chain and multi-chain ecosystem. This is happening after it went live on the Base blockchain in August.
SushiSwap is a decentralized cryptocurrency exchange (DEX) and automated market maker (AMM) built on blockchain technology, specifically on the Ethereum network.
It enables users to swap various cryptocurrencies without the need for traditional intermediaries like centralized exchanges.
Aptos is a Layer 1 blockchain network that operates on a proof-of-stake consensus mechanism.
Created with main objectives of providing exceptional processing speed and strong security for smart contracts developed using a programming language called Move.
Furthermore, SushiSwap noted that the collaboration with Aptos signifies a landmark moment in the DeFi space.
This will also make Aptos the first non-Ethereum Virtual Machine (EVM) chain to welcome Sushi, expanding its DeFi services beyond the EVM community.
This expansion to Aptos unlocks a new level of deep liquidity across major blockchain networks and significantly elevates the cross-chain trading experience.
The Aptos Foundation has made several strides to educate the public about its ecosystem.
Some of these initiatives include the introduction of the Aptos Digital Asset Standard (DA), aimed at transforming how NFTs function; the launch of Delegated Staking, making staking more user-friendly by allowing users to delegate their staking power and earn rewards individually;
In the same period, SushiSwap announced reimbursement to its users for the $3.3 million exploit it had earlier this year; and it also acquired Vortex Protocol as part of its commitment to launching a derivatives trading platform.
