Following the recent developments from the SushiSwap community and growth of the protocol there has been clear demand for SUSHI from the community.
The SUSHI token is nearing $1b market cap.
This equates to 21.9% of total DEX volume.
There are a number of factors that indicate Sushiswap will continue to grow in volume and reputation, and the project has rapidly introduced new features to the industry.
Onsen incentivizes liquidity for low cap tokens.
Bento box will bring lending and yield leverage.
L2 scaling is being explored with Mooniswap, likely using a Zero-Knowledge approach.
Read the full roadmap for 2021 here.
Sushiswap’s integration with Yearn Finance brings significant advantages too, including access to audits and developer resources, integration with Cream’s iron bank and Alpha Homora (promising up to 90x farming leverage through protocol-protocol credit). Integration into the Yearn Finance dashboard may bring further trading volume and liquidity.
There is also expected to be an announcement regarding impermanent loss prevention through single-sided liquidity (SIL).
The SUSHI token has been one of the top DEFI token performers in recent weeks. SUSHI is up 156% over the last 30 days, with one token now worth $7.23 and a market cap of $916m. This growth makes SUSHI a clear contender for allocation in our large cap DEFI pie.
A key has been native SUSHI staking as xSUSHI, allowing stakers to receive a revenue stream, 20% of the fees generated by the protocol. This has realised a predicted compounding APY fluctuating between 9 and 60%.
With volume continuing to grow this has presented a strong use-case for the token, which also plays a vital role as the governance token.
If others agree that SUSHI would be a valuable addition to DEFI+L I would love to see some modelling around the new allocation, as well as the impact upon DEFI++ and BCP.
Perhaps @gabo can provide the relevant data here.
@MarcZeller Introduced the idea of a concentrated DEFI pie, comprising YFI, AAVE, SUSHI and SNX. This has been a popular notion in the community and presents a unique use-case to our existing DEFI pies, which focus on greater diversification.
The introduction of SUSHI to +L could present an opportunity to construct the YASS pie, likely as a PieVault with the underlying assets able to natively farm.
If there is formal support for YASS pie here I would like to pursue this design and experiment with potential modelling, incorporating YASS as a sub-component of DEFI+L.