Sushi Community Endorses Transfer of $180mln Worth SUSHI from UniSwap to SushiSwap September 5, 2020 September 5, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 5, 2020 by Kelly Cromley

Sushi Community Endorses Transfer of $180mln Worth SUSHI from UniSwap to SushiSwap

The SushiSwap community has endorsed the shift from Uniswap to in-house platform developed as a fork of Uniswap’s venture. Nearly 87% of the vote was in support of the transition.

Presently, there is almost $180 million worth liquidity in the ETH/SUSHI pair on Uniswap.

The TVL (total value locked) in SushiSwap has increased from zero to $1.40 billion in just few days. This makes the DeFI venture trail behind Uniswap and paired with Aave and Maker.

Similar to other DeFi ventures, it was rolled out with restricted security audits. An assessment by Quantstamp has found out multiple security bugs, even though none of them are severe inherently.

Quantstamp communications manager Jaye Harrill said

“On the surface Sushiswap looks like another nightly-built vegetable farm with endless APY launched by the anonymously named NomiChef. But looking deeper we find a highly engaged community on discord genuinely discussing the growth of the very project they are invested in.”

PeckShield carried out an official safety audit of the code and did not identify any crucial bugs either. The idea backing the fork is to attain better decentralization of the venture. Of late, the pseudo-anonymous founders suggested rewarding 10% of Sushi’s total token supply to core developers and associates who are assisting in turning the venture successful.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.