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SushiSwap Releases New Major Update: Details

Fri, 04/07/2023 - 11:09
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Arman Shirinyan
SushiSwap to become bigger competitor of Uniswap
SushiSwap Releases New Major Update: Details
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In a series of tweets today, SushiSwap's "head chef" revealed that the project recently deployed concentrated liquidity and Version 3  contracts ahead of the official announcement. The tweets also provided insight into how SushiSwap intends to leverage its multi-network and cross-chain infrastructure to boost the adoption of its platform across nearly 30 networks, with more integrations in the pipeline.

SushiSwap has been working on building a robust multi-network decentralized exchange (DEX) infrastructure for the past few years. Its goal is to support a wide range of networks and capitalize on the most efficient Automated Market Maker (AMM) models, with V3 emerging as a clear frontrunner. The platform aims to drive the industry's broadest adoption of concentrated liquidity by rapidly deploying V3 at scale across its multi-network infrastructure.

Concentrated liquidity allows liquidity providers (LPs) to allocate their capital within specific price ranges, increasing capital efficiency and enabling them to earn more fees. By making concentrated liquidity available to the most extensive range of ecosystems, SushiSwap aims to provide immediate access to CL for LPs on numerous networks.

SushiSwap's network expansion is expected to benefit V3 users, as the platform continues to integrate with more networks and increase its reach. Users eagerly await the official launch information and further details about the deployment of concentrated liquidity and V3 contracts.

Originally, information about the concentrated liquidity of SushiSwap was leaked by DeFiLIama, but the head chef of SushiSwap decided to elaborate rather than deny those rumors. By introducing the technology, SushiSwap becomes the second biggest platform that allows users to provide concentrated liquidity, along with Uniswap V3.

At press time, SUSHI token trades at $1.1 with a 2.5% price drop in the last 24 hours.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.