DeFi Protocol Sushi Plans Focusing DEX
A well-known decentralised finance (DeFi) application Sushi’s CEO outlined the protocol’s 2023 roadmap, emphasising user experience, and stated that Sushi will launch its decentralised exchange (DEX) aggregator in the first quarter.
As part of its previous broader plans to make the protocol sustainable and profitable, the protocol will place a strong emphasis on DEX products this year. “Ultimately, we will provide deep liquidity, optimal pricing, long-term tokenomics, and an easy-to-use platform, putting you first in everything we build,” CEO Jared Grey wrote in a blog post on January 16th.
Sushi’s chief technology officer, Matthew Lilley, announced in a tweet thread on Jan. 3 that two of its products, the Kashi lending platform and MISO, a launchpad for external tokens, would be discontinued due to low public interest and the significant effort required to maintain them. Lilley stated that Sushi developers would concentrate their efforts on the protocol’s DEX product.
“Our goal is to become a market-leading DEX by improving our product stack and delivering feature parity to provide a solid foundation enabling innovation, such as biassed LP routes via our aggregation router and concentrated liquidity coming in Q1,” Grey wrote in a new blog post.
Grey said that Sushi built its DEX aggregation router in “stealth mode” during 2022 which will “help deliver the best user experience by serving users with optimal pricing.” DEX aggregation connects many decentralized exchanges’ liquidity pools, helping to provide traders better price and liquidity. Some of the top DEX aggregators include 1inch, OpenOcean and ParaSwap.
(With inputs from Shikha Singh)
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