SushiSwap
SUSHI
AMM-based decentralized token trading and yield protocol
Performances
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.17% | 2.32% | 8.12% | 29.88% | 47.36% | 12.10% |
Comparison
Fundraising not disclosed
Token not listed
Token not listed
Details
This content is generated by RD AI and is for reference only
SushiSwap is a decentralized trading protocol built on the automated market maker (AMM) model, enabling token swaps through liquidity pools. Users can deposit pairs of tokens into pools to become liquidity providers, earning trading fees and protocol rewards; they can also stake the resulting LP tokens in farms for additional yields. The protocol supports staking SUSHI tokens in the SushiBar to receive xSUSHI, which entitles holders to a share of trading fees. SUSHI holders can participate in community governance by voting on proposals. SushiSwap has expanded across multiple blockchains and introduced lending (Kashi) and token launchpad (MISO) tools, forming a multi-functional decentralized finance ecosystem.
Tokenomics
On-chain Holding
Top Holders
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|
Follow Updates
Follow Lists
People
About SushiSwap
SushiSwap emerged in August 2020 as an automated market-making (AMM) DEX forked from Uniswap, introducing the "vampire attack" strategy that migrated over $800 million in liquidity within weeks. This event became a landmark in DeFi history, proving that community-driven incentives could challenge entrenched incumbents.
In September 2020, the project faced a crisis when founder Chef Nomi sold dev funds, triggering a community revolt. Control was transferred to a multi-sig governance structure, and SushiSwap evolved into a community-governed DAO. This transition set a precedent for decentralized governance in DeFi.
Throughout 2021-2023, SushiSwap expanded beyond its original AMM, deploying on over 30 chains and launching products like Kashi (lending), Miso (launchpad), and BentoBox (vault). The 2022 brand restructuring into Sushi Labs introduced a council-style governance model, separating operational management from DAO voting.
In 2024, SushiSwap achieved profitability, generating over $10 million in revenue through its AMM, aggregator, and related products. The year also saw the relaunch of Sushi Bar staking and the integration of advanced trading tools like limit orders and DCA.
2025 marked a strategic pivot with the announcement of multiple new products: Wara (Solana-based trading platform), Kubo (perpetual contracts), Blade (impermanent loss mitigation AMM), and Susa (on-chain order book DEX). The first season of Perps points program concluded in July, and the launch of a linear vesting memecoin platform signaled expansion into new asset classes.
Despite leadership changes and market share challenges, SushiSwap's resilience through governance evolution, multi-chain expansion, and product innovation demonstrates its enduring significance as a pioneering force in decentralized finance.
Positive: SushiSwap passed a strategic reserve and buyback program, starting weekly SUSHI purchases into the reserve on Sep 7 and monthly xSUSHI buybacks on Oct 1; it also plans to migrate $10-20M liquidity to Robinhood Chain to boost trading volume.
Negative: The new tokenomics proposal caps xSUSHI buybacks at 1% of protocol fees and 1% of perpetual fees, sharply cutting staking yields; voting involved only two wallets, showing governance centralization; the reserve is explicitly not a price-support mechanism, with no commitment to holders.
There is no reliable information on the co-founders. The current core executive is Alex McCurry, Managing Director. He founded Solidity.io and leads investment firm Synthesis. He has scaled software businesses to eight-figure revenues. Previously, Jared Grey stepped down as head, moving to an advisory role.