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- 1 Sushi(dot)com is joining hands with ThunderCore to build a sustainable DeFi ecosystem.
- 2 ThunderCore secured its place as part of the inaugural group of V3 and V3 farming chains.
On June 6th, Tuesday, Sushi Swap announced its partnership with ThunderCore, to build a decentralized finance (DeFi) ecosystem. As per the recent tweet, with the layer-1 network “liquidity providers (LPs) can eagerly anticipate boosted APRs.”
🎉 We're thrilled to announce our partnership with @ThunderCoreLab,
— Sushi.com (@SushiSwap) June 6, 2023
a thriving layer-1 network that's shaking up the web3 gaming world! With this integration, liquidity providers (LPs) can eagerly anticipate boosted APRs 🔜
Let's dive into the details! 👇 pic.twitter.com/2FHczHIhl2
The Collab that Aims in the ‘DeFi Growth’
The layer-1 network, ThunderCore is a fast, secure layer-1 blockchain that mainly focuses on scalability, security, and usability, as Sushi mentioned in its tweet. And with breakthrough consensus protocol PaLa, the layer-1 network offers 4,000+ TPS, sub-second confirmations, and low gas fees. Moreover, Sushi also brought its suite of products to the booming ecosystem. ThunderCore will be among the first chains to get “Sushi’s v3 rewards.”
This team-up aims to redefine incentivization and fuel sustainable growth in DeFi. However, on ThunderCore there are some Sushi products, such as BentoBox, Furo, Onsen, SushiXSwap, and Sushi v3 AMM.
Sushi further introduced the “Fee Boosting Model.” As it noted, a portion of fees from SushiSwap on ThunderCoreLab will be utilized to purchase $SUSHI and $TT tokens. SUSHI and TT are the native coins of Sushi and ThunderCore, respectively. As per the model, these tokens will be “used as rewards to be distributed to LPs, boosting APRs and ensuring ongoing liquidity sustainability.”
Leveraging the user base of layer-1 network, TT Wallet, and massive decentralized application (DApp) ecosystem, Sushi is enhancing scalability. On the other side, the emphasis of ThunderCore on blockchain gaming aligns perfectly with Sushi’s vision for innovation in DeFi, as it mentioned in the tweet.
SUSHI Price Analysis
At press time, SushiSwap is trading at $0.744463 with a 24-hour trading volume of $21.55 Million. SushiSwap is up 0.16% in the last 24 hours, with a current market cap of $171.56 Million. In the last 24 hours, the coin noted low at $0.7262 while high was at $0.7697. However, in the last 7-days, SUSHI dropped more than 10%.
TT Price Analysis
At the time of writing, ThunderCore was priced at $0.003387 with a 24-hour trading volume of $1.66 Million. TT is up 1.97% in the last 24 hours, with a current market cap of $34.75 Million. In the last 24-hour, TT noted low at $0.003294 while high was at $0.003426. The last 7-days price performance of TT indicates nearly 4% decline.
Notably, both coins have gained little price in the recent 24-hours. Additionally, the global crypto market cap also noted an increase of almost 3% over the last day and is currently at $1.12 Trillion. The total crypto market volume over the last 24 hours is $49.43 Billion, which makes a 4.32% increase. The total volume in DeFi is currently $3.12 Billion, 6.30% of the total crypto market 24-hour volume.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
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.
