2022-04-18 23:30:10
How to purchase SushiSwap (SUSHI)

What is SushiSwap
What Is SushiSwap (SUSHI)?
SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens.
SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens.
SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.
Who Are the Founders of SushiSwap?
SushiSwap was founded by the pseudonymous entity known only as Chef Nomi. Little is known about Chef Nomi, or his or her impetus for forking off from Uniswap.
The project has two other pseudonymous co-founders, sushiswap and 0xMaki, also known as just Maki. Between them, they handle SushiSwap’s code, product development and business operations.
More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading startup Alameda Research.
Bankman-Fried is a well-known participant and cryptocurrency market commentator, regularly appearing in media interviews.
What Makes SushiSwap Unique?
SushiSwap primarily exists as an AMM, through which automated trading liquidity is set up between any two cryptocurrency assets.
Its main audience is DeFi traders and associated entities looking to capitalize on the boom in project tokens and create liquidity.
AMMs do away with order books entirely while avoiding problems such as liquidity issues, which hamper traditional decentralized exchanges.
SushiSwap aims to improve on the offerings of its parent, Uniswap, by increasing the impact users can have on its operations and future.
The platform takes a 0.3% cut from transactions occurring in its liquidity pools, while its SUSHI token is used to reward users portions of those fees. SUSHI also entitles users to governance rights.
Related Pages:
Learn more about Uniswap’s distribution on the CMC blog here.
New to DeFi? Learn more about it here.
Cryptocurrency newbie? Check out Alexandria, CoinMarketCap’s dedicated education suite.
How Many SushiSwap (SUSHI) Coins Are There in Circulation?
SushiSwap’s in-house token SUSHI is created at a rate of 100 tokens per block. The first 100,000 blocks had a block reward of 1,000 SUSHI.
The supply of SUSHI will depend on the block rate. At approximately 6,500 per day, and therefore 650,000 newly-minted tokens per day, there will be roughly 326 million tokens in circulation by September 2021, a year after SushiSwap first launched.
SUSHI had no premine, and began to be minted at Ethereum block number 10,750,000, beginning with a supply of zero tokens.
How Is SushiSwap Network Secured?
SushiSwap attempts to mitigate the traditional risks of depositing funds in smart contracts by upping the governance powers of its users.
The anonymity of its developers poses questions beyond a technical standpoint. In September 2020, for example, Chef Nomi was involved in a spat with users after withdrawing 38,000 in Ethereum (ETH) from SushiSwap. The funds were subsequently returned, with Chef Nomi publicly apologizing for doing so and calling the move a mistake.
Where Can You Buy SushiSwap (SUSHI)?
SushiSwap (SUSHI) is a freely-tradable token, with the majority of volume on major exchanges occurring on Binance, Huobi Global and OKEx.
Pairs against other cryptocurrencies and stablecoins are active, as well as with fiat, including on Bankman-Fried’s FTX exchange.
New to cryptocurrency? Learn how to buy Bitcoin and other tokens here.
How to buy SUSHI?
  • How to buy SUSHI on Neko Invest app
    For more information:
    How to download and use Neko Invest app
    • Step 1 :  Create/Login to your Neko Invest app account
    • Step 2 :  Go to Market page, click on the Search icon and search SUSHI in the search bar.
    • Step 3 :  Click on SUSHI logo and choose Invest.
    • Step 4 :  Entering the amount of SUSHI that you want to buy. Then click on the Get Quotes button.
    • Step 5 :  Swipe the Swipe to swap button and now you own SUSHI. You can check your SUSHI balance in your wallet by going to Wallet page.
Contract Addresses
SushiSwap (Polygon) : 0x0b3f868e0be5597d5db7feb59e1cadbb0fdda50a
SushiSwap (Avalanche Contract Chain) : 0x39cf1bd5f15fb22ec3d9ff86b0727afc203427cc
SushiSwap (Xdai chain) : 0x2995D1317DcD4f0aB89f4AE60F3f020A4F17C7CE
SushiSwap (Fantom) : 0xae75A438b2E0cB8Bb01Ec1E1e376De11D44477CC
Wrapped SUSHI (Sollet) (Solana) : AR1Mtgh7zAtxuxGd2XPovXPVjcSdY3i4rQYisNadjfKy
SushiToken (Binance Smart Chain) : 0x947950bcc74888a40ffa2593c5798f11fc9124c4
SushiToken (Ethereum) : 0x6b3595068778dd592e39a122f4f5a5cf09c90fe2
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