A) There is a clear link between platform value capture and token value accrual
B) This is non-subsidized (no ponzinomics here)
C) Actual dividends in stablecoins reduce volatility of returns (you don't need to form a view on Sushi's price)
7/ USP
On top of an exchange that has found product-market fit, new follow-on products are about to be released:
1. Bentobox (Margin trading any alt pairs) 2. Gusoku (IL protection) 3. MISO (Sushi Launchpad)
Of the 3, Bentobox has to be the one I'm looking out for.
8/ Bentobox
Leveraged trading altpairs (on Sushiswap) are something degens will appreciate.
Thankfully 90% of crypto are complete degens so this will fit right in. This will boost fees earnt on Sushiswap tremendously.
Currently in final stages of development + pending audit
9/ Catalyst
Obviously everyone is anticipating $UNI farming ending.
In my earlier thread I explored reasons why funds may leave Uniswap.
I think its very likely a large chunk moves to Sushiswap.
Current APY yields for the 4 ETH pairs on Sushiswap:
wBTC: 22% (13% on Uni)
USDT: 31% (23% on Uni)
USDC: 36% (21% on Uni)
DAI: 29% (32% on Uni)
And 2/3 rewards are locked for 6 months to reduce Sushi dumping.
Where do you think funds will go?
11/ Team
@0xMaki and team have done a phenomenal job since assuming control of Sushi in Sep. They have been building in silence and the fruits of their labor are about to show.
Right now ~$2.3bn funds are deployed farming UNI, with $ETH being the reference token.
This means that there is currently ~$1.1bn ETH locked up, about to be released into the wild.
Where do you think that ETH will go?
2/ Whilst a large portion of current TVL will stay in the same pools (fees generated are juicy), I posit a reasonable amount of ETH will leave the Uniswap system in search of higher yields.
Nobody knows numbers at this point but 50% of TVL leaving may be within reason.
3/ If this holds true, ~$500mm ETH will be on the market. They can:
A): Stake elsewhere ($SUSHI/$ALPHA/ETH 2.0 etc)
B): Remain in holder wallets (unlikely)
C): Be sold for stables / altcoins