SushiSwap (SUSHI) announced that it will now be supported on BitGo’s custodial and non-custodial wallets. The latter announced the partnership through its official block, saying:
“We are very excited to announce BitGo’s support for SUSHI in our custodial and non-custodial wallets and we are looking forward to expanding our collaborations with the SushiSwap community.”
SushiSwap Consistency Following Chef Nomi Debacle Is Key
Sushiswap is a fully decentralized on-chain protocol for exchanging tokens through automated market-making (AMM), which uses ‘liquidity pools’ rather than an orderbook. As of writing, it has over $3 billion locked up in its contracts, as per DeFi Pulse. In the beginning, SushiSwap faced a lot of flak for forking from the UniSwap protocol and founder, Chef Nomi, exiting the project.
However, since then, the project has been excellent and is delivering on a pretty ambitious roadmap. Plus, it has also managed to build a pretty solid community.
“SushiSwap received a fair bit of criticism at the onset of the project for having launched a forked version of the ecosystem’s largest AMM. Through inclusivity and a community driven approach, SushiSwap has since charted its own trajectory — evolving far beyond the initial fork and product.
The SushiSwap team put forth an ambitious roadmap last fall and has continued to show consistency and resiliency in delivering it. SushiSwap is nearing the much anticipated launch of BentoBox, the Sushi ecosystem’s isolated pair lending solution. Just recently, the SushiSwap team also kickstarted a launchpad program aimed at token listings dubbed MISO.”
SushiSwap’s Partnership With Yearn Adds Further Credibility
In December 2020, SushiSwap made a significant partnership with Yearn Finance, described as a “strategic merger.” Yearn founder and DeFi rockstar Andre Cronje also praised the way Sushi bounced back from its growing pains:
“I had been outspoken in the past about the things that Sushiswap did wrong, but I cannot overstate how much they have done right. In the past weeks of interacting with 0xMaki I have developed immense respect for their character, their capabilities, and their execution.”
In its post, BitGo noted that this partnership has been critical for the whole DeFi space’s growth.
“The relationship between the projects is very synergistic and focuses on deepening the integration between SushiSwap’s AMM pools and Yearn’s yield maximizing strategies and a continued roadmap of collaborative products. We are very much excited about the growth of both of these projects and the flourishing of the whole DeFi space.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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