1/ I've received a couple of questions from people asking what $SUSHI is about.
I'll try to summarize it.
The $SUSHI experiment looks silly on the outside but when you look past the funny sounding token nam, what's happening is quite significant.
I'll try to summarize it.
The $SUSHI experiment looks silly on the outside but when you look past the funny sounding token nam, what's happening is quite significant.
2/ Some anonymous dev forked @UniswapProtocol the most important piece of infrastructure in the #DeFi space (a real cash cow),
AND
introduced a token on top that entitles its holders to a share of trading fees.
In the current @uniswap implementation all fees go to LP's.
AND
introduced a token on top that entitles its holders to a share of trading fees.
In the current @uniswap implementation all fees go to LP's.
3/ This is part of a new trend in DeFi to make token launches "Fair".
There were rumours that Uniswap would introduce its own $UNI token soon but a big chunk would have been distributed to VC investors, who invested in the company behind Uniswap.
There were rumours that Uniswap would introduce its own $UNI token soon but a big chunk would have been distributed to VC investors, who invested in the company behind Uniswap.
4/ @SushiSwap is now incentivizing all Uniswap liquidity provider's (LP's) to migrate their liquidity over to Sushiswap by giving them $SUSHI.
So far, the majority of Uniswap LP's have been staking their LP tokens to earn free $SUSHI but we still have to see whether it will last
So far, the majority of Uniswap LP's have been staking their LP tokens to earn free $SUSHI but we still have to see whether it will last
5/ In +-10 days all the liquidity of LP's who continue to stake on Sushiswap will be automatically pulled out of Uniswap and migrated to Sushiswap.
Effectively, this will show whether network effects can be cloned in the DeFi world or whether they represent some sort of moat.
Effectively, this will show whether network effects can be cloned in the DeFi world or whether they represent some sort of moat.
More on fair launches
On chances of success that a fork suceeds
Possible ways Uniswap can mitigate the crisis
Very real risk to $SUSHI price is a Uniswap annoucement of V3 in the next days
A deeper analysis.
If just 10% of the liquidity sticks, val. could still be 2x from here
If just 10% of the liquidity sticks, val. could still be 2x from here
