SushiSwap Deploys Its Contracts On Five New Networks, Balancer Announces Ports Onto Moonbeam And Polkadot
SushiSwap Deploys Its Contracts On Five New Networks, Balancer Announces Ports Onto Moonbeam And Polkadot
March 5, 2021
SushiSwap Deploys Its Contracts On Five New Networks, Balancer Announces Ports Onto Moonbeam And Polkadot
SushiSwap Deploys Its Contracts On Five New Networks, Balancer Announces Ports Onto Moonbeam And Polkadot
March 5, 2021

SushiSwap is deploying its contracts on five networks, and Balancer announcing ports onto Moonbeam and Polkadot

It has been reported that Joseph Delong, the CTO of SushiSwap, announced that the DEX had deployed contracts on xDai, Moonbeam Network, Binance Smart Chain, Polygon (previously called Matic), and Fantom.

However, Delong noted that Sushi is planning additional future deployments, including on Optimism. A Solana port is also under consideration.

The report said that while Delong stated that users can expect “relatively complete” experiences on Fantom and Binance as both networks currently “have good support for token lists,” the three other networks “will need some work” before Sushi’s full user experience will be available.

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He also noted that the industry-wide trend of “bridges and multichain deployments” as an interim solution while second-layer scaling solutions for Ethereum are still under development.

He further said that no incentive rewards are currently available for multichain pool users.

Likewise, Dune Analytics stated that SushiSwap is currently the second-largest DEX with a weekly volume of nearly $3 billion, ranking behind Uniswap’s $6.5 billion. Sushi is not the only major DEX looking to Moonbeam Network, which offers a Polkadot-powered Ethereum-compatible smart contract platform allowing developers to build interoperable applications.

On the same day, Moonbeam announced the popular DEX Balancer will be working with the Parity team to port its AMM onto their platform. The announcement noted that Polkadot-based assets will be made available for trade as ERC-20 tokens on Balancer once the exchange has been deployed on Moonbeam.

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Currently, Balancer is the fifth-largest DEX by volume, hosting $525 million worth of trade in the past few days.

Thus, the announced ports have come following record-high gas fees on Ethereum.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.