Fuse Gets Added By Sushi, A Top Cross-Chain DeFi Platform
25 January 2022 - 02:30AM
NEWSBTC
When it comes to projects in the DeFi space, establishing key
partnerships is paramount if long-term success is to be ensured. In
such a volatile and unpredictable market and industry, one can
never be too careful and that is exactly why the Sushi protocol has
now been deployed on Fuse Network after the platform added the
blockchain to its list of supported chains. For those who may be
unaware, Fuse’s mission is to make cryptocurrency payments and DeFi
options available to the public by drastically simplifying access
via mobile-centric user-friendly solutions. In order to
successfully reach its aims, Fuse, therefore, depends on a quick
and relatively low-fee blockchain and so the Layer-1 EVM compatible
Fuse Network is utilized alongside the mobile-centric
infrastructure for the purposes of consumers and businesses alike.
In such a fast-paced and unpredictable sector, this kind of
technology is often needed. Why pick Sushi? Sushi is one of the top
cross-chain decentralized finance protocols and platforms in the
entire world and it is hence highly sought after by all kinds of
projects. SushiSwap, the AMM (Automated Market Maker) DEX protocol,
the BentoBox decentralized applications ecosystem, the staking
platform xSUSHI, the Kashi lending protocol, the Miso IDO platform,
and the Shyu NFT marketplace all comprise the leading multi-chain
community-oriented decentralized finance platform. Specifically,
the SushiSwap decentralized exchange is one of the biggest
decentralized exchanges by trade volume. Furthermore, it is listed
in the top ten Ethereum decentralized finance platforms in terms of
TVL (Total Value Locked). Additionally, the platform’s native
token, SUSHI, is utilized for governance as well as to incentivize
users to continuously contribute to the protocol, such as by
offering liquidity through the SushiSwap pools for instance. SUSHI
token holders may also use their tokens to voice their concerns and
vote on community ideas and various proposals. When all of these
factors are taken into consideration, it, therefore, becomes easy
to see why Fuse Network, like so many others before it, would
select Sushi. The fact that such a prominent and popular
cross-chain DeFi protocol has now added Fuse Network to its list of
supported chains is a key indicator of the project’s strengths and
longevity. Moreover, SushiSwap has already been deployed on Fuse
Network and this also involves both the swap as well as liquidity
provision functionalities. In addition, incentivized trading pools
consisting of liquidity provider programs shall also be announced
in the near future alongside both the Miso IDO platform and the
Kashi lending network scheduled to be deployed on Fuse as well.
Past accomplishments and future goals Fuse experienced substantial
growth as of late, both in terms of its market capitalization and
total value locked. As such, priority will be given to the
consistent growth of payments-oriented ecosystem initiatives. In
related news, Peepl (which is powered by Fuse) also obtained vital
funding via the United Kingdom government. Other accomplishments
include the growth of a DeFi ecosystem which is led by FuseFi, as
well as a growing NFT ecosystem which includes the Artrific and
tofuNFT marketplaces and art projects like Cozy Cosmonauts and Fuse
Faces. Incorporations with various other leading players in the
DeFi and crypto scene such as Beefy Finance, Elk Finance, The Graph
and Pocket Network have also taken precedence alongside initial
significant centralized exchange listings (including MEXC and
Gate.io). Finally, in terms of future goals, Fuse’s main focus
shall be on maintaining the sustainable growth of the ecosystem
both through continuing to nurture Fuse’s ecosystem projects like
Peepl and GoodDollar and attracting well-known names like Sushi.
Maker (COIN:MKRUSD)
Historical Stock Chart
From Feb 2024 to Mar 2024
Maker (COIN:MKRUSD)
Historical Stock Chart
From Mar 2023 to Mar 2024