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Sushi Dives into Aptos Blockchain: A New Chapter in Decentralized Exchange

Sep 12, 2023 at 09:17 am

In a groundbreaking turn of events, the prominent decentralized exchange (DEX) Sushi has made a significant stride by extending its operations onto the layer-1 blockchain of Aptos. This pioneering move signifies Sushi's inaugural foray into a blockchain ecosystem independent of the Ethereum Virtual Machine (EVM), marking a substantial leap towards diversification. Prior to this expansion, Sushi had firmly established its presence across a spectrum of platforms, including Ethereum, Arbitrum, Base, Polygon, Fantom, BNB Chain, and others, as validated by DefiLlama.

Presently, Sushi commands a dominant position in the decentralized finance (DeFi) sector, with a commendable total value locked (TVL) of $350 million. Notably, a significant portion, totaling $267 million, is secured within the Ethereum network, underscoring Sushi's robust foothold in the DeFi realm. In stark contrast, Aptos currently registers a locked value of a mere $45 million, indicating substantial potential for growth in the near future. Sushi's expansion into the Aptos blockchain presents an opportunity to attract fresh capital, positioning itself as a formidable contender alongside other non-EVM chains like Solana, Mixin, and Osmosis.

Sushi's strategic move to integrate with Aptos transcends mere expansion; it represents a notable stride towards enhancing market accessibility and elevating the cross-chain trading experience. By harnessing the potential of Aptos' layer-1 blockchain, Sushi gains access to a new echelon of profound liquidity across major blockchain networks. This move is poised to unlock fresh avenues for traders and investors, fostering a seamless and robust trading environment.

Engineered by former Meta (META) personnel, Aptos introduced its native APT token last year. Despite achieving a commendable market capitalization exceeding $1 billion, the blockchain has encountered hurdles in securing a substantial share of the decentralized finance (DeFi) total value locked (TVL). This highlights the fiercely competitive nature of the DeFi landscape and the challenges faced even by well-established projects.

Sushi's expansion into the Aptos blockchain marks a pivotal moment in the trajectory of decentralized exchanges. This stride not only broadens Sushi's operational horizons but also lays the foundation for an enhanced cross-chain trading experience. As the DeFi sector continues its evolution, Sushi's strategic decisions position it at the vanguard of innovation, primed to seize new opportunities and further solidify its standing within the crypto ecosystem.

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