Decentralized trading platform Uniswap has launched a governance token, UNI, minting 1 billion coins to be released to the public over the next four years. Read more: SushiSwap Will Withdraw Up to $830M From Uniswap Today: Why It Matters for DeFi Source link
SushiSwap
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SushiSwap creator “Chef Nomi” has returned all $14 million in ether, apologizing to the DeFi project’s community for suddenly liquidating his holdings. Source link
Within a week of going online, DeFi project SushiSwap’s total value locked (TVL) surpassed $1.5 billion. At its peak, it made up almost 70% of liquidity on the decentralized exchange Uniswap. SushiSwap only took seven days to launch. This article was originally published by CoinDesk China on Tuesday. SushiSwap co-founder 0xMaki (later referred to as Maki) once proudly said, “It took Uniswap two years to get to where it is today, it only took us 7 days.” SushiSwap’s founding team is extremely small, with only three people: Chef Nomi (later referred to as Chef), sushiswap and 0xMaki. The first two are responsible […]
Bitcoin was rising for a second straight day, to about $10,281, after a rapid sell-off earlier in the week. “In a flash, investors have gone from running for the hills to buying the dip,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, told clients in an email. The crypto investment firm Stack Funds wrote in a weekly report that prices appear to have found a temporary floor around $10,000. Taimur Baig, chief economist for Singapore’s DBS bank, told CoinDesk that the pandemic and the associated central-bank money-printing have strengthened the case for bitcoin. “People are worried about […]
Uniswap fork SushiSwap has begun migrating $830 million of crypto assets to a new community-owned automated market maker (AMM). The process began at approximately 14:15 UTC, when testing the migration first began. The event is perhaps the largest test to date of a growing mood in DeFi: that all major projects should be community-owned. As of now, Uniswap is a standout market leader without a governance token, the type of coin that makes decentralized decision-making possible. Stepping back, some liquidity providers to Uniswap’s AMM system have given control of their crypto to the rival AMM for the purpose of migrating assets […]
SushiSwap, the community-owned automated market maker (AMM), now has a new set of leaders. Nine signers of a multisig wallet controlling the project’s funds have been elected to govern SushiSwap through full decentralization. On Ethereum, a multisig has worked out to be something like a board of directors in the analog world, such that it takes any six of the nine members to approve changes to the SushiSwap code or to spend its development funds. These new leaders were chosen through a process largely inside the SushiSwap Discord server following the departure of two of the project’s three co-founders. Some stumped […]
SushiSwap investors were handed a raw deal over the weekend after the pseudonymous founder of the $1.27 billion, 1.5-week-old decentralized finance (DeFi) protocol cashed out. A fork of DeFi darling Uniswap, SushiSwap is the brainchild of a pseudonymous founder, Chef Nomi, who took the former project an extra yard by adding rewards for providing liquidity to the exchange through a liquidity provider token (LP), called sushi (SUSHI), that earns a portion of the AMM’s revenue. In essence, AMM’s provide the infrastructure to match lightly traded tokens with liquidity. A variant of other decentralized exchange (DEX) experiments, Uniswap has grown to be […]
SushiSwap, the automated market maker aiming to unseat market leader Uniswap, has moved up its launch by five days. Because of SushiSwap, total value in assets locked on Uniswap have gone up by just under $1.5 billion since the SushiSwap contract went into effect at block 10750000 on August 28, according to DeFi Pulse, making Uniswap the largest holder of Ethereum assets in DeFi right now. Both Uniswap and Sushiswap are designed to always have a price at which they will swap any two tokens they have in liquidity pools. One app is able to drive liquidity into another because of […]
A South Korean crypto exchange has been raided by police, Bitcoin’s Lightning Network hit a new high and mining revenues are climbing. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Full stack Sushi/UniThere is a battle for dominance to become the top decentralized exchange in the DeFi space. Uniswap, a venture capital backed project, meant to create a more open and customizable crypto exchange, is being challenged by an upstart unaudited adaption called SushiSwap. Part of a trend of “Weird DeFi” projects – frequently […]