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- SushiSwap is operating approximately assets of around $47 million.
- SushiSwap recently collaborated with LayerZero to work on Omnichain.
According to the SushiSwap official announcement, GoldenTree has invested around $5.2 million in the SushiSwap governance token.
The GoldenTree has approximately $47million under management and expressed it had been “following Sushi for a while.” With the start-up of its crypto-focused GoldenChin assets management arm, “psyched to be more active in all things Sushi.”
Sushi was developed after copying Uniswap, adding additional liquidity mining and governance features. Although with the aim of improvement in comparison to the original, it appears to lag behind the competitors.
Then also GoldenTree mentioned in its forum post that “Sushi had incredible potential.” Further, it highlights that “The community has certainly been through some tough challenges, we’ve been amazed at the resilience of both the core team and the community in the face of these speed bumps, as you all have continued to build and release top-tier products.”
The announcement gathered the limelight just three days after the change of leadership on 3 October 2022; the members of the Sushi community mutually elected Jared Grey as Chief Executive Officer following a month of controversy surrounding the transfer of power and governance of protocol within the decentralized exchange.
On 5 October 2022, TheCoinRepublic reported that the Ethereum-based decentralized exchange SushiSwap had seen a surge in its overall DeFi holdings. It has seen notable growth that led the holdings to add more than 133 million USD. This way, the defi holdings jumped from 454 million USD to 587 million USD. Meanwhile, it’s also noteworthy that several specific reasons are responsible for the significant interest increase in SushiSwap.
Recently, SushiSwap also announced their partnership with LayerZero Labs for launching omnichain swaps. As far as development updates are concerned, they are being rolled out while ensuring a more user-friendly experience.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
