SushiSwap Price
(SUSHI)
USD($)
SushiSwap (SUSHI) Live Price Chart
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SushiSwap Live Price Data
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SushiSwap(SUSHI) Profile
Rank181
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Contract
Ethereum 0x6b3595...fe2BNB Smart Chain (BEP20) 0x947950...4C4Avalanche C-Chain 0x39cf1b...7ccSolana AR1Mtgh7...fKy
Audited By
https://github.com/peckshield/publications/find/master
Investors
Rockaway Capital4RC
$0.7102
$0.7890
$23.3800
+0.13%
-3.87%
-2.80%
$193.72M
$271,128
261,764,249
250,000,000
About SUSHI
How can I buy SushiSwap (SUSHI)?
What Is SushiSwap (SUSHI) Crypto?
SushiSwap (SUSHI) is a decentralized finance (DeFi) platform that facilitates the exchange of cryptocurrencies without the need for a central authority. It operates on the Ethereum blockchain and is an example of an automated market maker (AMM).
Here are some key features of SushiSwap:
1. Automated Market Maker (AMM): SushiSwap uses an AMM model, which means that trading pairs are supported by liquidity pools. These pools are funded by users who deposit their tokens in exchange for liquidity provider (LP) tokens. These LP tokens can later be redeemed for the initial deposit plus a portion of the trading fees.
2. Decentralization: Being a decentralized platform, SushiSwap allows users to trade cryptocurrencies directly with each other without the need for intermediaries. This enhances security and privacy and reduces costs.
3. SUSHI Token: The platform's native token, SUSHI, is used for governance and to reward users who contribute liquidity to the platform. Holders of SUSHI can participate in community governance by voting on proposals to change the protocol. They also receive a portion of the trading fees generated by the platform.
4. Yield Farming: Users can earn SUSHI tokens by providing liquidity to the platform's pools, a process known as yield farming. This incentivizes users to add liquidity, facilitating smoother trades and a more robust platform.
5. Community Governance: SushiSwap is governed by its community of SUSHI token holders. Proposals for changes to the protocol can be made by anyone and are voted on by SUSHI holders. This decentralized governance model ensures the platform evolves to benefit its users.
6. Fork of Uniswap: SushiSwap started as a fork of Uniswap, another popular AMM, but has introduced additional features such as enhanced rewards for liquidity providers and community governance mechanisms.
7. Cross-Chain Compatibility: SushiSwap aims to support multiple blockchains to enable trading across a wider range of assets. This is part of its effort to become a cross-chain AMM, facilitating liquidity and trading across different blockchains.
How Does SushiSwap Decentralized Exchange Work?
SushiSwap operates using several core mechanisms that allow it to function as a decentralized exchange (DEX) and part of the broader DeFi ecosystem. Here's a breakdown of how SushiSwap works:
Automated Market Maker (AMM)
> Liquidity Pools: Unlike traditional exchanges, which use order books to match buyers and sellers, SushiSwap uses an automated market maker (AMM) model. In this model, trades are made against a pool of tokens rather than with a specific counterparty. These pools are funded by users who supply an equal value of two tokens, creating a market for others to trade against.
> Pricing Algorithm: SushiSwap utilizes a constant product formula, x*y=k, to determine the price of tokens in a pool. In this formula, x and y represent the quantity of each token in the pool, and k is a constant. When a trade occurs, the balance between x and y changes, automatically adjusting the price based on the supply and demand dynamics.
SUSHI Token and Rewards
> Liquidity Mining: Users who provide liquidity to the pools by depositing their tokens are rewarded with SushiSwap's native token, SUSHI. This process, known as liquidity mining, incentivizes users to contribute to the platform's liquidity.
> SUSHI Rewards: In addition to a share of the trading fees, liquidity providers earn SUSHI tokens, which can be staked or used in governance votes. This reward mechanism is designed to distribute governance power to active participants in the ecosystem.
Decentralized Governance
SUSHI holders can propose and vote on changes to the SushiSwap protocol. This could include adjustments to fee structures, the addition of new liquidity pools, or changes in the SUSHI token distribution. Governance ensures that the direction of SushiSwap aligns with the interests of its users.
Yield Farming for High APYs
SushiSwap offers potentially high annual percentage yields (APYs) for liquidity providers, especially for certain pools. This yield comes from trading fees and SUSHI rewards. Yield farming has become a popular way for users to earn returns on their cryptocurrency holdings through participation in DeFi platforms like SushiSwap.
Cross-Chain Expansion
Recognizing the limitations of operating solely on the Ethereum blockchain, SushiSwap has expanded to support other blockchains, enhancing its accessibility and utility. This cross-chain approach allows a broader range of tokens to be traded and gives users more opportunities to participate in liquidity mining.
History of SushiSwap DEX and SUSHI Coin
SushiSwap (SUSHI) was launched in August 2020 during a period of rapid growth and innovation within the DeFi sector. It was initially introduced as a fork of Uniswap, another leading DEX, to introduce additional features like the SUSHI token for community governance and rewards.
The platform was originally founded by a pseudonymous individual or group known as "Chef Nomi," along with co-founder "0xMaki." Chef Nomi was the primary developer and face of SushiSwap at its inception. However, the early days of SushiSwap were marked by controversy when Chef Nomi withdrew a significant amount of ETH from the development fund, leading to accusations of an exit scam. This action caused a lot of turmoil within the SushiSwap community and the wider DeFi ecosystem.
Chef Nomi returned the withdrawn funds in response to the community's backlash. He handed over control of the project to Sam Bankman-Fried, the CEO of FTX (at the time), who then facilitated a transition of leadership to the community. 0xMaki took on a more prominent leadership role during this transition and has been recognized as a key figure in stabilizing and guiding SushiSwap through its early challenges.
Since then, SushiSwap has transitioned to a more decentralized governance model, with decisions made by the SUSHI token holders community through a proposal and voting mechanism. This approach aims to ensure that the platform evolves in a way that reflects the interests and desires of its users.
What Is SUSHI Token Used for?
The SushiSwap (SUSHI) token serves multiple purposes within the SushiSwap ecosystem, playing a crucial role in its functionality and governance. Here are the primary uses of the SUSHI token:
1. Governance
SUSHI token holders have the power to participate in the governance of the SushiSwap protocol. This involves voting on proposals related to the development and operational aspects of the platform, such as changes to fee structures, the introduction of new features, or the allocation of the SushiSwap treasury funds. This decentralized governance model aims to ensure that the platform is run in the best interests of its community.
2. Liquidity Provider Rewards
SUSHI is distributed as a reward to users who provide liquidity to the various pools on the SushiSwap platform. Users receive LP tokens representing their pool share by depositing tokens into a liquidity pool. In addition to a portion of the trading fees, liquidity providers also earn SUSHI tokens, enhancing the incentives for users to supply liquidity to the platform.
3. Staking Rewards
Holders of SUSHI can stake their tokens in the SushiBar (xSUSHI) to earn additional rewards. Staking SUSHI tokens in the SushiBar allows users to earn a share of the platform's trading fees. This not only provides an additional revenue stream for SUSHI holders but also helps to reduce the circulating supply of SUSHI, potentially increasing its value.
4. Yield Farming
SUSHI tokens can be farmed by participating in various liquidity pools and staking programs offered by the SushiSwap platform. Yield farming with SUSHI involves providing liquidity to earn more SUSHI tokens, engaging in staking, or participating in other incentivized activities that reward users with additional SUSHI.
5. Ecosystem Participation
The SUSHI token is integral to participating in various aspects of the SushiSwap ecosystem, including new projects or platforms that SushiSwap may develop or integrate with in the future. This could include lending platforms, leveraged trading platforms, or other DeFi projects SushiSwap might launch or partner with.
6. Trade SUSHI on KuCoin
Trade SushiSwap coin against other cryptos on the KuCoin Spot Market to make the most of changing market conditions. Buy or sell $SUSHI or HODL if you believe in the future potential of the SushiSwap platform or the overall DeFi market, based on your research (DYOR).
SushiSwap (SUSHI) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.0301 | -3.89% |
| 7 Days | $-0.0228 | -2.98% |
| 30 Days | $-0.0298 | -3.86% |
| 3 Months | $0.0699 | 10.44% |
24H Investment Barometer
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The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Risk warning：Please note that the Investment Barometer is provided for informational purposes only and is not an investment advice. Investing carries risk. Please make investment decisions cautiously and based on your own judgement.
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SushiSwap Conversion Rate
FAQ
How much is 1 SushiSwap (SUSHI) worth?KuCoin provides real-time USD price updates for SushiSwap (SUSHI). SushiSwap price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time SUSHI to USD exchange rates.
Is SushiSwap (SUSHI) a Good Investment?
Investing in SushiSwap (SUSHI) or participating in its ecosystem has several potential advantages, reflecting broader trends and opportunities within the DeFi sector.
1. Innovative DeFi Ecosystem
SushiSwap is part of the innovative and rapidly evolving DeFi ecosystem. It offers users a decentralized platform for exchanging cryptocurrencies without needing a traditional exchange. This positions SushiSwap and the SUSHI token at the forefront of financial innovation, potentially providing growth opportunities as the DeFi sector expands.
2. Yield Farming and Staking Rewards
One of the primary attractions of SushiSwap is the ability to earn yield through liquidity provision, staking, and yield farming. These mechanisms allow SUSHI holders and liquidity providers to earn passive income through trading fees and SUSHI rewards, which can be a compelling incentive for investors looking for returns on their crypto assets.
3. Governance Participation
Holding SUSHI tokens grants users the right to participate in the governance of the SushiSwap protocol. This means investors can have a say in key decisions regarding the platform's development, operational changes, and the use of its treasury. Active involvement in governance can ensure that the platform evolves in ways that benefit its users and stakeholders.
4. Diversification within Crypto Portfolio
Adding SUSHI to a cryptocurrency portfolio can provide diversification within the crypto asset class, especially for investors interested in gaining exposure to the DeFi sector. Given its distinct utility and role within the SushiSwap ecosystem, SUSHI can offer a different risk and reward profile than other cryptocurrencies.
5. Cross-Chain Expansion and Integration
SushiSwap's efforts to expand and integrate with other blockchains enhance its potential reach and utility. By supporting multiple chains, SushiSwap allows for a broader range of transactions and activities, potentially increasing the platform's user base and the utility of the SUSHI token across various ecosystems.
6. Community-Driven Development
As a platform that emphasizes community governance, SushiSwap is positioned to adapt and evolve according to the needs and desires of its users. This flexibility and responsiveness to community input can be a strength, as it allows for the continuous improvement and alignment of the platform's features with its users' interests.
What Is SushiSwap Price Prediction?
While we cannot provide a reliable SUSHI price prediction over any timeframe, monitoring the following factors could help you understand the price changes in SushiSwap cryptocurrency better:
1. DeFi Market Trends
The overall health and trends within the DeFi market significantly impact the SushiSwap price. As SushiSwap is a prominent player in the DeFi space, rising interest, adoption, and investment in DeFi can positively influence the $SUSHI price. Conversely, downturns or regulatory challenges facing DeFi can negatively affect it.
2. Liquidity and Trading Volume
The amount of liquidity provided to SushiSwap's pools and the platform's overall trading volume can impact the SUSHI token price. High liquidity and volume can indicate a healthy ecosystem and attract more users, potentially increasing the SUSHI token price.
3. Protocol Upgrades and Developments
Developments, upgrades, and new features within the SushiSwap protocol can influence investor sentiment and the SUSHI to USD price. Positive developments, such as successful integrations with other blockchains or the launch of new services, can boost confidence and demand for SUSHI.
4. Governance Decisions
Decisions made by SUSHI token holders regarding the platform's future can also impact the SUSHI crypto price. This includes changes to the protocol, fee structure adjustments, or treasury management decisions. Positive governance actions that benefit the platform's long-term success can increase the SushiSwap value.
5. Yield Farming and Staking Rewards
The attractiveness of yield farming and staking rewards can influence the demand for SUSHI. If the platform offers competitive rewards, it may attract more liquidity providers and investors, driving up the demand and price of SUSHI. Conversely, reductions in rewards could lead to a decrease in demand, impacting the SUSHI coin price.
6. Cryptocurrency Market Sentiment
General market sentiment and trends in the wider cryptocurrency space can significantly impact the price of SushiSwap crypto. Bullish trends across cryptocurrencies can increase investment in DeFi tokens like SUSHI, while bearish trends can have the opposite effect.
7. Community and Ecosystem Health
The strength, engagement, and growth of the SushiSwap community and its ecosystem partners can influence the SUSHI crypto price. A vibrant and active community can drive development and adoption, while any signs of diminishing community support can negatively affect sentiment.
How to Use SushiSwap
Here’s how you can use SushiSwap:
1. Visit the SushiSwap app or website.
2. Connect your digital wallet, ensuring you have enough Ethereum (ETH) to cover the gas fees required for transactions.
3. Select the token you want to swap from and enter the desired amount. You can also click "Max" to swap the maximum amount of a specific token. Then, choose the token you want to swap to.
4. Review the transaction details, including the estimated gas fees.
5. Confirm the transaction and the swap will be executed on the Ethereum blockchain.
How to Earn on SushiSwap DEX
Earning on SushiSwap involves participating in its DeFi ecosystem through various methods, primarily focused on liquidity provision, staking, and yield farming. These activities not only contribute to the platform's liquidity and functionality but also offer users the opportunity to earn rewards in the form of SUSHI tokens and a share of the trading fees. Here's how to get started:
1. Provide Liquidity
> Join a Liquidity Pool: To earn on SushiSwap, you can start by providing liquidity to one of its many pools. This involves depositing an equal value of two tokens (for example, ETH and USDC) into a specific pool. In return, you'll receive LP tokens representing your pool share.
> Earn Trading Fees: Liquidity providers earn a portion of the trading fees generated from the trades that occur within their pool. These fees are distributed proportionally to the amount of liquidity each provider has contributed.
2. Stake LP Tokens
> Stake in SushiSwap's Farms: After providing liquidity and receiving LP tokens, you can further maximize your earnings by staking these LP tokens in SushiSwap's farms. This process, known as yield farming, allows you to earn additional SUSHI tokens as rewards.
> Participate in Onsen Program: SushiSwap's Onsen program offers enhanced rewards for selected pools. You can earn higher SUSHI rewards by staking LP tokens from these pools, promoting newer or smaller liquidity pools.
3. Stake SUSHI in SushiBar (xSUSHI)
> Earn More Rewards: You can stake your SUSHI tokens in the SushiBar to receive xSUSHI, representing a share of the SushiBar. Stakers in the SushiBar earn a portion of the platform's trading fees converted into SUSHI, enhancing their earning potential.
> Benefit from SUSHI Appreciation: Besides earning a share of the trading fees, staking SUSHI for xSUSHI can also benefit from the potential appreciation in $SUSHI price.
4. Participate in SushiSwap Governance
While not a direct earning mechanism, participating in SushiSwap's governance by holding and using SUSHI tokens to vote on proposals can influence decisions that may affect the platform's success and potentially the value of SUSHI tokens.
Steps to Get Started:
1. Choose a Wallet: First, you'll need a compatible wallet like MetaMask, WalletConnect, or Coinbase Wallet to interact with SushiSwap.
2. Acquire Cryptocurrency: Ensure you have some Ethereum (ETH) or other supported blockchain assets to pay for transaction fees and to exchange for the tokens you wish to provide as liquidity.
3. Connect Your Wallet: Visit SushiSwap's website and connect your wallet to start participating.
4. Select Activities: Choose whether you want to provide liquidity, stake LP tokens, stake SUSHI, or participate in governance based on your investment strategy.
Important Considerations
1. Risks: DeFi activities involve risks, including impermanent loss for liquidity providers, smart contract vulnerabilities, and market volatility. Thoroughly research and consider these risks before participating.
2. Due Diligence: Stay informed about the latest developments in SushiSwap and the broader DeFi ecosystem to make informed decisions.
By actively participating in SushiSwap's ecosystem, users can leverage their crypto assets to earn rewards while contributing to the liquidity and functionality of the platform.
What is the all-time high price of SushiSwap (SUSHI)?
The all-time high price of SushiSwap (SUSHI) is $23.3800. The current price of SUSHI is down 0.97% from its all-time high.
What is the all-time low price of SushiSwap (SUSHI)?
The all-time low price of SushiSwap (SUSHI) is $0.4532. The current price of SUSHI is up 0.63% from its all-time low.
How much SushiSwap (SUSHI) is there in circulation?
As of 11 21, 2024, there is currently 261,764,249 SUSHI in circulation. SUSHI has a maximum supply of 250,000,000.
What is the market cap of SushiSwap (SUSHI)?
The current market cap of SUSHI is $193.72M. It is calculated by multiplying the current supply of SUSHI by its real-time market price of $193.72M.
How do I store SushiSwap (SUSHI)?
You can securely store your SushiSwap in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your SUSHI include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Tron (TRX) to cash?
You can instantly exchange your Tron (TRX) for cash using KuCoin's Fast Trade feature. This feature enables you to convert TRX to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.
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2024-11-21 16:37:42 (UTC+8)
24h Volume3,228,893,394USDT