decrypt.co
Decentralized exchange Sushi today announced expansion to Aptos.
In a Monday announcement, the popular DEX said the integration was a “milestone” because it’s the first time Sushi has been accessible on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM).
Sushi is a popular Ethereum-based DEX that allows users to swap tokens and earn interest with their crypto. In terms of 24-hour trading volume, it is the 43rd largest DEX with $3.3 million in crypto traded in the past day, according to CoinGecko.
What's better than announcing an exciting partnership? Announcing it IRL!
Thanks @Aptos_Network for having us on stage at their hackathon in 🇸🇬 Singapore. This is just the beginning. Stay tuned for more development updates!#SushiRollsWithAptos pic.twitter.com/dwmnoNwg2a
— Sushi.com (@SushiSwap) September 11, 2023
Aptos, launched in October, is a blockchain founded by developers behind Meta’s (formerly Facebook) Diem blockchain. It got off to a slow start but in August, the developer behind the blockchain, Aptos Labs, joined forces with Microsoft’s Azure OpenAI Service.
“With the integration of Sushi v2 AMM and SushiXswap, Sushi’s cross chain swap, Sushi further strengthens its leading position in the cross-chain/multi-chain landscape,” the exchange said.
Aptos said in a statement that “further integrations are coming soon, focusing on world-class UX and interoperability for Sushi and Aptos users and builders.”
A DEX is a digital asset exchange that allows users to trade tokens without a middleman.
Unlike major crypto exchanges Binance or Coinbase, DEXs like Sushi do not ask for typical know-your-customer (KYC) protocols such a name, address or ID from traders—and anyone can execute trades.
Other DEXs that run on Aptos’ blockchain include PancakeSwap and Liquid Swap, according to DeFiLlama. A total of $45.5 million is currently locked in projects on the Aptos blockchain.