Buy xSUSHI
What is xSUSHI?
xSUSHI is a specialised token associated with the SushiSwap decentralised exchange platform. It is earned by staking SUSHI tokens in the Sushibar, and represents a share of the fees and revenue generated by the platform. xSUSHI appreciates in value over time as fees are collected and distributed to the Sushibar, always maintaining a worth greater than regular SUSHI tokens.
How does xSUSHI work?
xSUSHI operates as an upgradeable token tied to the SushiSwap platform. When users stake their SUSHI tokens in the Sushibar, they receive xSUSHI tokens in return. These tokens represent ownership of the fees accumulated by the platform. A trading fee is applied to each transaction on SushiSwap, a portion of which is allocated to the Sushibar and distributed amongst xSUSHI holders, ensuring that the value of xSUSHI rises over time. Holders of xSUSHI also gain voting rights, enabling participation in the governance of the SushiSwap protocol.
What are the potential use cases for xSUSHI?
- Governance and Voting: Holders of xSUSHI can participate in the governance of the SushiSwap platform, voting on proposals and changes.
- Liquidity Provision: xSUSHI incentivises liquidity providers by representing their share and earning fees from the exchange.
- Revenue Distribution: Fees from the platform are used to buy xSUSHI, which is then distributed to token holders, sharing in the platform's success.
- Yield Farming and DeFi Activities: xSUSHI can be used as collateral for loans or to participate in yield farming for additional rewards.
- Staking and Passive Income: By staking SUSHI in the Sushibar, users earn xSUSHI and passive income over time as its value increases.
What is the history of xSUSHI?
xSUSHI was introduced alongside the SushiSwap platform to enhance participation and governance within its ecosystem. SushiSwap was launched in 2020, founded by a developer known as Chef Nomi, among others. As part of its evolution, xSUSHI became central to the platform's governance and fee distribution model, significantly contributing to SushiSwap's growth and integration with various DeFi protocols and platforms. Over time, the platform transitioned to a community-driven governance model, involving xSUSHI holders in its decision-making processes.
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Frequently Asked Questions (FAQs)
What is the current price of xSUSHI (XSUSHI)?
The xSUSHI price is $3.4179 AUD, representing a -15.19% from the day prior.
Where is the best place to buy xSUSHI (XSUSHI) in Australia?
The best place to buy xSUSHI (XSUSHI) 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 xSUSHI (XSUSHI) 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 xSUSHI (XSUSHI)?
The trading volume of xSUSHI (XSUSHI) is $62.2K AUD in the last 24hrs, representing a -15.19% from the day prior.
How can I buy xSUSHI (XSUSHI)?
xSUSHI (XSUSHI) 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 xSUSHI (XSUSHI)?
The current market cap of xSUSHI (XSUSHI) is $53.2M AUD.
Can I convert xSUSHI (XSUSHI) to cash?
Yes - With Coinstash you can convert your xSUSHI (XSUSHI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many xSUSHI (XSUSHI) are there?
The current circulating supply of xSUSHI (XSUSHI) is 15.9M.
Is Coinstash a safe place to buy xSUSHI (XSUSHI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling xSUSHI (XSUSHI) 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.