SushiSwap can be regarded as the latest decentralized exchange in the market, whereby actions to alleviate Ethereum’s dangerously high transaction fees are being undertaken. This is important because these actions can be viewed as a possible path to a blockchain called Solana.
On the 22nd of February, a proposal was displayed on the SushiSwap forum. It was posted under the code name of “Bonsai”, which is a symbol for constructing a manifesto on the system of Solana. With that said, the main aim is to alleviate the alarmingly high transaction fees introduced by Ethereum. The transaction fees reached an all-time high during the last 24 hours.
Moving forward, the proposal aims to interlink Sushiswap with a platform named Raydium ‘s platform. This will be done by initiating and launching an automated market based on Solana. This step was undertaken on February 21, 2021.
The author of the proposal was “Handroll”, and in his proposal, he also revealed that the Raydium platform already contains features that back the liquidity pools of SushiSwap. He stated that their platform has been working on the AMM of Raydium, along with their liquidity pool protocols, since 2020. In that regard, it was revealed and concluded that the protocols followed by Radium support the liquidity pool of SushiSwap.
Moving forward, Handroll also proposed that this interlinking process begins with the Raydium platform working with SushiSwap. In this manner, backing for liquidity pools will be constructed, and the Solana-powered Serum DEX will be glided upon. This process can begin through the employment of a testing period; whereby, Raydium’s test net will be explored, and Bosnai will be deployed on Solana’s main net.
According to the proposal, the users of SushiSwap shall carry the capability of employing token swaps. As a result, they will be able to manage the yield of their farms at a faster rate, along with reduced transaction costs.
The team of SushiSwap believes that the Bosnai system will be available on the testnet at the start of 2021. This process will protect SushiSwap’s trademark UI, along with its design. Besides, it will also connect SushiSwap to Raydium. Although SushiSwap was initiated in August 2020, it has advanced into one of the most prevalent decentralized exchanges on the market, with $3.6 billion in assets.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
