What is Sushiswap?
Sushiswap commenced as a Uniswap V2 fork during 2020’s DeFi Summer, launching the first notable vampire attack in DeFi.
Background
0xMaki, an anonymous developer, founded Sushiswap in 2020.
How Does It Work
While initially just Uniswap V2 with a token, Sushiswap established a brand as the more collaborative, community-driven project between the two. Sushiswap developed numerous integrations with other protocols and additional products, including a launchpad, yield farming platform, auctions, and lending/borrowing.
$SUSHI is Sushiswap’s governance token. Users can stake the governance token for $xSUSHI, which entitles the user to 0.05% of trading fees on the platform.
Key Takeaways
- Sushiswap is a fork of Uniswap V2.
- It has since expanded to other products, like launchpads, yield farming, auctions, and lending.
- The governance token is $SUSHI, which users can stake to earn fees.
