SushiSwap Launched On Binance Smart Chain

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The automated market maker protocol SushiSwap has launched on Binance Smart Chain (BSC), Fantom, Polygon (formerly Matic), xDai Chain and Moonbeam Network, project CTO Joseph Delong said. Until that time, SushiSwap used exclusively the Ethereum blockchain, where fees have recently risen to levels inaccessible to many users.

SushiSwap was built on the Uniswap exchange codebase and used a variety of approaches to gain a competitive edge, including being the first to issue its own token and launch a “vampire mining” program to bring liquidity to its platform. Since then, work on the project has become more professional thanks to DeLonge and other new developers.

DeLonge said the protocol is planned to be integrated with the Optimism Layer 2 scaling solution and the Solana blockchain. He also noted that not all new blockchains are immediately operational. So, BSC and Fantom have “good support”, while “others still need to be worked on in terms of user interaction.” Fantom transactions are carried out through compatible wallets such as MetaMask, where users need to activate the appropriate network. After that, they can conduct transactions on the platform in a matter of seconds with minimal commissions, the project’s blog says.

 

“It is quite easy to launch such implementations. The industry is now moving towards bridging and multi-chain launch as an interim option before Layer 2 protocols can help address the high cost of gas, Delong added. “There are no rewards for multi-chain pools right now.”

 

Also on Wednesday, the upcoming launch on Binance Smart Chain was announced by the developers of the Alpha Finance DeFi project. It should take place in the coming weeks. Not long before that, a separate implementation on Binance Smart Chain was presented by the decentralized exchange aggregator and the 1inch.exchange exchange protocol.

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