High transaction fees on the Ethereum network are forcing DeFi project developers to look for alternatives to this blockchain. The creators of SushiSwap launched the project on five new networks at once.
According to Joseph Delong, CTO of the SushiSwap decentralized exchange, the platform’s smart contracts were deployed on the Ethereum xDai sidechain, as well as the Moonbeam Network, Binance Smart Chain, Polygon and Fantom networks. At the same time, in the future, it is planned that the platform’s smart contracts will appear on other blockchains, including Optimism and Solana.
DeLonge said that smart contracts on the Fantom and Binance networks provide “almost the same user experience” as they “have good token support.” Contracts on other networks will require some refinement.
He also noted the trend of decentralized projects to create gateways and deploy smart contracts across multiple networks at once. But this is only due to the high transaction fees in Ethereum:
“These deployments and bridges are pretty simple. But this is only an interim step before the full-fledged launch of second-tier solutions that will reduce gas costs ”.
In order to encourage users to switch to using SushiSwap on various networks, the project has provided awards.
Note that if in January trading volumes on decentralized exchanges amounted to $ 55.8 billion, in February they exceeded $ 61 billion. The Uniswap platform remains the leader in terms of trading volumes, while SushiSwap is in second place.
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