what is sushiswap exchange?

SushiSwap is an Ethereum-blockchain DEX founded by pseudonymous open-source developers Chef Nomi and 0xMaki and initially launched as a copy of Uniswap.As a clone of Uniswap, SushiSwap was a platform to swap tokens without the need for a middleman or intermediary. To make SushiSwap unique, the founders added new features including liquidity mining and governance through SushiSwap’s SUSHI token.

SushiSwap, the native token of the SushiSwap ecosystem, gives users voting power to determine the future of the platform as well as a percentage of trading fees and staking rewards. Though holding SUSHI is not required to use SushiSwap, the token does offer some additional functionality – like staking – on the SushiSwap platform that you can’t access without it.

SushiSwap utilizes a decentralized trading method known as an automated market maker (AMM). Unlike traditional exchanges, which require an order book and intermediary for trading, SushiSwap’s AMM makes the entire process peer-to-peer.
AMMs, like the one used by SushiSwap, don’t need an intermediary or order book because trades are with liquidity pools – funds of a particular token, deposited by users, that utilize smart contracts to provide liquidity for trades.SushiSwap has expanded its menu to offer a new range of DeFi products. One of these is SushiBar.

SushiSwap lets SUSHI holders receive staking rewards on their SUSHI in the form of xSUSHI. These rewards come from swap fees and are currently being distributed at an APY (annual percentage yield) of around 11%. With xSUSHI, users can then gain access to SushiSwap’s governance system, maintaining voting rights and giving users immediate access to rewards while their SUSHI continues to grow.
To get started with staking on SushiBar, all you need to do is access the staking tab on SushiSwap, enter the total amount of SUSHI you’re looking to deposit and approve the transaction.

Finally,SushiSwap recently introduced crypto lending and borrowing through Kashi. For borrows, Kashi requires a certain amount of collateral to be deposited and charges APR (annual percentage rate) based on a variable rate. For lenders, Kashi offers a variable reward APR in exchange for assets deposited.

Although rewards from DeFi lending are sometimes referred to as staking rewards, remember that this is not the same as staking rewards from a validator. SushiSwap lending rewards come from the borrower on the other side of the transaction. Among other things, this is a fairly unregulated space, so it’s important to be aware of the associated risks.

what is sushiswap exchange?

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