Decentralized exchange (DEX) SushiSwap has announced the launch of its own automatic cross-network market maker (AMM), SushiXSwap.
With this new solution, users can move funds from one blockchain to another without leaving the platform and without the need to use bridges.
The new feature is now available and supports major networks used by decentralized finance (DeFi) protocols. Among the networks are Ethereum, BNB Chain, Avalanche and Polygon.
In addition, the feature also supports Ethereum network’s second-tier scalability solutions such as Arbitrum and Optimism rollups. As reported by SushiSwap, other blockchains will be added in the future.
To connect to the protocol, it is possible to access with Metamask, WalletConnect, Gnosis Safe and Coinbase wallets. According to the exchange, the product’s goal is to solve “the horrible user experience.”
That is, it is no longer necessary to use multiple blockchains and platforms to move funds. According to DEX developers, the difficulty in moving funds between networks is “the main barrier to the mass adoption of these decentralized applications (dApps)”.
SushiXSwap uses LayerZero’s Stargate protocol, which uses “multiple bridges” between networks to provide the user with the best price on their chosen cryptocurrency pair.
This DeFi protocol is among the most used in the world, with a particularly strong presence in DeFi on the Ethereum network.
According to the website DeFi Llama, the protocol has a total locked value (TVL) of $680 million, of which $518 million is in ETH.
After its creation, SushiSwap managed to raise funds from many Uniswap users. In this way, it became the most liquid DEX in the world. Today, the platform is among the 12 most used on Ethereum and among the 20 most used among all blockchains.
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