Why does sushi migrate (why is sushi always cold)?
Why does sushi migrate? The reason why sushi migrates is that the development o
Why does sushi migrate? The reason why sushi migrates is that the development of SushiswapV2 has been mostly completed. However, during the migration process, the locking of liquidity mining and trading pools caused a sharp drop in the price of SUSHI, and Sushi token holders withdrew all their funds from Uniswap to obtain more liquidity, resulting in a significant decrease in the price.
During the migration process, the term “sushi” is often used to describe “sushi”, which is something similar to cryptocurrency or Bitcoin. But if someone thinks it is a bunch of garbage projects, then it is a bad experiment.
When users deposit all their money in one place, the assets will be transferred (i.e., migrated). These operations are automatically executed through smart contracts (a mechanism for automated market-making), followed by exchanges. This is how the Sushi project is migrated.
However, despite Sushiswap’s active promotion of community support for migration, many people did not notice the existence of this event. According to DeBank data statistics, as of September 18, approximately $600 million in funds were locked in the Sushiswap protocol to earn returns.
Although migration is indeed a good plan, during the migration period, we may see some issues: if measures are not taken to restore it or if there is no new funds left with liquidity providers, it may not have any impact. For most people, migration is only temporary and does not solve the problem. (AMBCrypto)
Why is sushi always cold?
Editor’s note: This article is from Babbitt News (ID: bitcoin8btc), written by Kyle, and authorized by Star Daily to publish.
In the past 24 hours, the total value locked in DeFi projects has exceeded $5 billion, with nearly 400,000 Ethereum being burned and an additional 100,000 Sushiswap tokens being staked on Uniswap. Although Sushiswap currently occupies the majority of the market share, it has not yet reached the high yield target of “liquidity mining.”
According to data from cryptocurrency data website CryptoQuant, since mid-September, the number of Sushi tokens locked on Uniswap has increased by more than 20 times, from about 40,000 to about 300,000 US dollars. More than half of the newly minted Sushi total supply has been transferred to exchanges.
This means that as the Sushi protocol develops and the continuous demand for liquidity increases, liquidity will continue to decrease. However, this situation is not as severe as imagined because they have started to migrate tokens to new platforms.
Therefore, although liquidity and trading volume have been greatly improved, many people still believe that the market value of Sushiswap may continue to decline in the next few months. In fact, compared with other DEXs, it now seems to be in a favorable position supported by liquidity providers. However, if there is not enough liquidity and a sufficient number of traders participating, Sushi may become very cold.
So the question is, why Sushiswap? The answer to this question is that liquidity mining is a huge money-making opportunity because we are creating more sources of income. And when liquidity mining incentives end, users can use their funds to exchange for tokens and receive rewards. Once most of the time they earn flows into those who make the price difference by selling liquidity, these activities will immediately increase. In addition, due to the low and irreplaceable characteristics of SushiSwap’s token price, its liquidity is limited.
Secondly, there is SashimiSwap. Sashimi is a fork coin of Uniswap, it is a decentralized protocol token similar to Uniswap, aimed at providing governance power to the Sushiswap community and promoting ecosystem development while maintaining its leading advantage as a decentralized stable asset.
Finally, if Uniswap users want to learn from its product, they must choose SASHIMI.
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