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Decentralized exchanges (DEXes) registered an exponential rise in trading activity in the last 24 hours after the collapse of Silicon Valley Bank (SVB) triggered FUD in the broader crypto market and depegged the USD Coin [USDC].
SushiSwap, a popular multichain decentralized exchange (DEX), burns approximately $5 million annually, its chief chef, Jared Grey, revealed on February 28. SushiSwap Holds $30.6 Million Worth Of Digital Assets In a tweet, Grey said the protocol holds $30.6 million worth of multiple assets, diversified across Ethereum, Wrapped BTC (WBTC), stablecoins, and more.
The world of cryptocurrencies has seen a host of digital assets flourish, from varied sectors. One sector which has seen impeccable growth in the past is the sector of Decentralized Finance (Defi). Successively, numerable digital assets from Defis, have garnered the interest of the masses.
SushiSwap Head Chef Jared Grey said the protocol increased its Treasury holdings to about $30.6 million with a burn rate of around $5 million per annum.
Explore the world of liquidity mining with our in-depth analysis of 1inch, Uniswap, SushiSwap, Curve, and Balancer.
According to data provided by Messari, the fees on DEXs have drastically reduced over time. This decline in fees would help DEXs such as Uniswap, Curve, and SushiSwap attract more users to their respective protocols.
The acquisition of Vortex Protocol also means SushiSwap will be rolling out its services on Cosmos in Q2 this year.
According to the Sushiswap announcement of the partnership with Aura Finance, the DEX said the new deal also included at least 28 other projects.
Sushiswap (SUSHI) is experiencing relatively positive price action at the time of writing on heightened community enthusiasm for the new proposal that has been passed. The decentralized exchange (DEX) token is up by 3.41% over the past 24 hours and by 17.11% in the trailing seven-day period.
On 6 February, SushiSwap [SUSHI] announced that its proposal for Sushi Vesting Merkle Tree Clawback got approved for implementation.
Veteran analyst and trader Avi Felman, head of the digital asset trading arm in GoldenTree Asset Management investing heavyweight, explains why he is highly enthusiastic about the macro prospects of SushiSwap (SUSHI).
A widely followed crypto trader says Bitcoin's (BTC) current value of $23,571 offers potential promise for the future. Pseudonymous crypto analyst Rekt Capital tells their 334,500 Twitter followers that BTC's weekly close over $23,400 is a promising sign for the king crypto.
In 2022, SushiSwap [SUSHI] recorded a revenue of $16.75 million, according to Token Terminal. However, compared to protocols like MakerDAO [MKR] and Lido Finance [LDO], Sushiswap fell short.
In the case of SushiSwap and the Sei Network, the benefit for both firms is quite clear and besides growing its influence, the former will use the partnership to generate a new revenue stream for the protocol.
Sushiswap passed a proposal to revamp its tokenomics this week and the new exchange could have an impact on its native token sushi.
According to a proposal by SushiSwap, the firm will be redirecting 100% of its trading fees to the Treasury. This comes after the firm revealed plans to multiply their 2023 earnings.
On 24 January, DeFiLlama revealed that the trading volume of SushiSwap [SUSHI] on Arbitrum was steadily increasing. As per the tweet, on 23 January, 44.6% of the total SushiSwap trading volume occurred on Arbitrum.
While the DeFi market has continued to mirror the crypto market rally, more innovations have been introduced to the ecosystem. In today's news, SushiSwap, the sixth-largest decentralized exchange (DEX) by 24 hours trading volume, has passed a proposal to relocate 100% of its trading fees to the SushiSwap treasury for maintenance and expenses.
SushiSwap has approved two key proposals to boost its treasury by diverting trading fees and clawing back SUSHI tokens in the Merkle Distributor.
SushiSwap will shortly transfer all trade fees to its treasury. 99.85% of voters "clawbacked" 10,936,284 unclaimed SUSHI ($14.8 million) tokens.
100% of trading fees on the platform will soon be redirected to the SushiSwap treasury for maintenance and expenses.
Members of the Sushi DAO have passed a proposal seeking to retrieve about 6.2 million SUSHI tokens to the Treasury, from early liquidity providers who are yet to claim their rewards.
SushiSwap, a decentralized finance (DeFi) protocol on Arbitrum, has been experiencing a steady rise in trading volume. Yesterday, the total SushiSwap trading volume on Arbitrum rose to an impressive 44.6%.
In a best-case scenario, crypto layoffs could spur another round of innovation for the industry.
