Buy Sushi
What is Sushi?
Sushi is a decentralised exchange (DEX) known as SushiSwap. It enables users to swap cryptocurrency assets without relying on an intermediary, using automated market making technology to facilitate transactions. It's recognised for its extensive deployment on over 30 blockchains, making it a flexible platform in the decentralized finance (DeFi) sector.
How does Sushi work?
Sushi operates as an automated market maker (AMM) on the Ethereum blockchain and other layer 1 networks. It uses smart contracts to execute trades and manage liquidity pools that users can provide liquidity to in exchange for receiving a share of the trading fees. These pools support the AMM mechanism by providing the necessary liquidity for users to trade tokens. SushiSwap employs an algorithm to automate the pricing of these tokens based on supply and demand dynamics within the pools.
What are the potential use cases for Sushi?
SushiSwap provides several use cases:
- Decentralised Trading: Users can trade cryptocurrencies across multiple blockchain networks.
- Yield Farming: Participants can earn interest by providing liquidity to pools.
- Voting and Governance: Holders of SUSHI tokens can participate in governance decisions that influence the direction and operations of the Sushi platform.
- Cross-Chain Functionality: With SushiXSwap, it supports cross-chain swaps, enabling asset exchanges across different blockchain networks.
- Lending and Borrowing: Through its Kashi Lending platform, Sushi allows users to lend tokens and earn interest, or borrow, with the flexibility of isolated risk markets.
What is the history of Sushi?
SushiSwap was launched in August 2020 as a fork of the Uniswap protocol by developers known as Chef Nomi, Sushiswap, and 0xMaki. It gained notoriety early on when Chef Nomi controversially withdrew funds from the development pot but later returned them. Governance control was handed over to Sam Bank-Fried, CEO of FTX and Alameda Research. Despite initial hurdles, SushiSwap grew rapidly, implementing new features and solidifying its status within the DeFi ecosystem as a robust, community-driven platform.
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Frequently Asked Questions (FAQs)
What is the current price of Sushi (SUSHI)?
The Sushi price is $2.3266 AUD, representing a -9.28% from the day prior.
Where is the best place to buy Sushi (SUSHI) in Australia?
The best place to buy Sushi (SUSHI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Sushi (SUSHI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Sushi (SUSHI)?
The trading volume of Sushi (SUSHI) is $181.6M AUD in the last 24hrs, representing a -9.28% from the day prior.
How can I buy Sushi (SUSHI)?
Sushi (SUSHI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Sushi (SUSHI)?
The current market cap of Sushi (SUSHI) is $449.9M AUD.
Can I convert Sushi (SUSHI) to cash?
Yes - With Coinstash you can convert your Sushi (SUSHI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Sushi (SUSHI) are there?
The current circulating supply of Sushi (SUSHI) is 192.8M.
Is Coinstash a safe place to buy Sushi (SUSHI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Sushi (SUSHI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.