SashimiSwap is a new automated market maker protocol planning to launch on Ethereum, following the same vampire attack strategy of SushiSwap. However, before you start shouting that this is just another scam fish fork, note that this project has aelf behind them. The project’s goal is to launch the most fairly rewarded decentralized exchange with the best liquidity.
What is SashimiSwap and SASHIMI?
SashimiSwap has removed the dev share distribution from the protocol. Whereas SushiSwap distributes 10% of its funding each time to the development fund, SashimiSwap focuses solely on rewarding liquidity providers. Though you can argue that SushiSwap needed the dev share design as it launched without any financial backing, this definitely caused a controversial saga.
Liquidity provider rewards… SashimiSwap will charge a 0.3% trading fee for executing token swaps, and 0.25% will reward liquidity providers. As a result, the remaining 0.05% goes to the SASHIMI DAO contract, meaning the community will decide its use.
- Note the decentralized exchange is not currently live. Uniswap liquidity providers can stake their LP tokens and start earning SASHIMI tokens.
Plans for cross-chain DeFi… Recently, aelf launched AESwap, their developers are already working to link the two protocols for cross-chain liquidity and swaps. In addition, this type of cross-chain DeFi experience could potentially provide a better experience for traders and liquidity providers. Currently, we find high transaction costs and long confirmation times on Ethereum.