It has become apparent that Uniswap created a very interesting DEX model. Several forks exist, but now those forks are getting their own forked versions. SashimiSwap is mimicking SushISwap, yet offers some interesting changes to boot.
Is There Merit to SashimiSwap?
- SashimiSwap is the first major DeFi solution to launch on the aelf network, another blockchain trying to become part of decentralized finance.
- The project borrows a lot of code from the recently migrated SushiSwap – including the AMM aspect – but the liquidity between the projects is not shared.
- Mining and staking SashimiSwap will be open to the public, and allows liquidity providers on Uniswap to earn SASHIMI tokens with a 10x bonus for the first 100,000 blocks.
- A total of 10 liquidity pools are supported on launch, including ETH/USDT, SASHIMI/ETH, WBTC/ETH, and so forth.
- SashimiSwap prides itself on having no development funds and rewarding users through the platform’s transaction fees.
- Once the aelf mainnet goes live, 1/6th of the transaction fees will be sent to a DAO contract to be used for community governance.
- At its core, the Aelf team wants to make SashimiSwap a more transparent and fair version of SushiSwap, and one that will ultimately be connected to the AESwap platform in the near future.
- Market makers will be able to create their own custom trading pairs, which is a unique, albeit double-edged sword, especially given the number of liquidity rug pulls going on in the DeFi industry.
- The native SASHIMI token has already gone through a major devaluation, as its value dropped from $6.2 to $0.915. Setting a new all-time low is not out of the question at this rate. This drop slashed the market cap by over $10 million in a matter of hours.
- SASHIMI has under $26 million in trading volume, as it can only be traded on Uniswap as of right now.