Sushi 101

Why $SUSHI might be the most undervalued coin in DeFi.

Sushi (formerly known as SushiSwap) is a decentralized exchange in the process of becoming a full service DeFi platform.

It was launched in August 2020 as a fork (code copy) and competitor of Uniswap,

which is the largest DEX on Ethereum.
Side note: If you’d like to learn more about decentralized exchanges,

Read this thread.

After some early issues with the launch,

Sushi has become the second largest DEX on Ethereum,

with a ~16% market share and over $500mm in average daily trading volume.

This growth has shot Sushi up to a market cap of 1.3 billion dollars.
But while its exchange has been a huge success,

It is only the beginning of what makes Sushi so special.

Let's talk about all of the features Sushi is adding to make $SUSHI one of the most productive and valuable coins in DeFi.
The first thing SUSHI has going for it is it’s strong commitment to decentralization.

We’ve seen this show itself in two ways.

The first is Sushi’s open approach to deploying its protocol.
While most DEX’s tend to stick to one chain (ie Ethereum or BSC),

Sushi is deployed on Ethereum, BSC, Polygon, Fantom, and many other chains.

They’re also planning to launch on Arbitrum,

which will be the first true L2 scaling solution built on Ethereum when it releases.
By deploying on every popular chain in existence,

Sushi is ensuring that they’ll be in good shape no matter who wins out.

The second is Sushi’s profit sharing mechanism.
By slightly lowering the rewards given to liquidity providers,

Sushi is able to distribute a small percentage of trading fees directly to token holders.

Token holders can collect these fees by staking their coins on the SushiBar platform.
This turns Sushi tokens into a productive asset,

reducing speculation and increasing their value.
Along with SushiBar, Sushi is building many other apps to expand their DeFi capabilities.

These apps are turning Sushi from just a DEX to a full service DeFi platform.

Let’s take a quick look at a few of them.

BentoBox is a platform that allows users to earn extra yield on their deposited tokens.

Right now, this only includes Sushi’s borrowing and lending app called Kashi.

Kashi is similar to apps like Aave or Maker, although it aims to be more specialized.
It does this by isolating the risk between specific pairs (which other platforms don’t do).

This allows users to borrow and lend a much wider selection of risky assets.

Future BentoBox apps could open up other DeFi functions like flash loans or yield farming vaults.

Miso is a token launchpad platform.

It makes the process of creating new tokens easier for developers,

and facilitates their launch on the Sushi platform.

Onsen is a platform that selects young projects and gives them an allocation of Sushi tokens.

This helps quality new projects grow much faster,

and gives Sushi token holders an opportunity to earn rewards through Onsen liquidity pools.
With all of these incredible new features,

it’s hard to see why $SUSHI is trading at a discount on most valuation metrics compared to competitors.

When the bull market picks back up, I expect this to change.

If you’d like to learn more about Sushi,

I’d suggest you watch the following video.

If you liked this thread,

Please give the first post a like and retweet.

As always, happy to answer any questions in the replies.

Thanks for reading!

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