SashimiSwap, a platform self-described as one that “gives liquidity providers on UniSwap an opportunity to earn SASHIMI tokens,” has launched its genesis mining block at block 10833000, and as of now over 1.37 million ETH worth of assets are mining the SASHIMI token, according to a press release from the group. That liquidity translates over to $500 million, which equals the second most trading volume on all of the Ethereum platform.
On top of this, the parent network of SashimiSwap, SUSHISWAP, has migrated to Ethereum as of September 10, meaning it brought in over $1 billion in liquidity over from UNISWAP. However, the community is a little unsure as to how the platform will grow next. The release presents a potential plan of growth for just this:
Liquidity Provider incentives: Keep on providing sashimi token rewards for people providing liquidity on Uniswap. And in order to incentivize all liquidities on the Ethereum ecosystem, the sashimi protocol will gradually reward liquidity in other DEXs, such as Sushiswap and upcoming ones. The developers will revamp the protocol design to ensure shared liquidity across multiple DEXs.Sustainable mining: The general idea here is to cap the total amount of Sashimi tokens to be farmed and design a release schedule to reasonably reward token holders with less inflationCommunity governance with strong leadership: Establish all necessary voting mechanisms and community channels to pass on governance power to all token holders. In addition, we have taken feedback from the community that they expect more technical and product leadership from the developers. And the team will focus on those aspects and make proposals for community review and vote.Liquidity migration: Sashimi DEX aimed to become the DEX with largest liquidity on Ethereum. The team will prepare a liquidity migration in the future and enable swap functions on SashimiSwap.Cross-chain liquidity aggregation: With limitations on Ethereum, Sashimi will work with other blockchains to connect liquidity and trading needs on multiple Blockchains. This may reduce gas fee, trade confirmation, and better user experience. The developers are working on mechanisms to link Sashimi and AESwap (on aelf) as the first prototype. And there is a commitment from aelf team that the Sashimi token will be used for AESwap in the future with no additional tokens to be issued. This will greatly increase the use cases of Sashimi tokens.
Remember, all trading carries risk. Past performance is no guarantee of future results.