Place/Date: Palo Alto, California - September 6th, 2022 at 5:02 pm UTC · 2 min read
Source: Boba Network
Sushi, one of the biggest providers of DeFi tools like Sushi Swap, is deploying its products on Boba Network, the first multichain Layer-2 blockchain scaling solution and Hybrid Compute platform.
Sushi will deploy its comprehensive set of products to Boba. Launch will begin with Legacy Swap (the original, pre-Trident AMM), and will quickly be followed by the Kashi margin lending platform, Bento Box and Furo.
In addition, Boba and Sushi have committed to providing liquidity mining rewards for a year post deployment to bootstrap liquidity and usage. The deployment will help Boba diversify its DEX offering and attract new liquidity.
Sushi is one of the most popular and advanced DEXs, offering a number of tools for traders such as margin trading, limit orders and dedicated yield opportunities. The platform currently hosts over $900M in total value locked across its deployments, with an average volume of $350M a week.
Deploying on Boba will offer additional value to SUSHI holders through the xSUSHI revenue sharing mechanism, which deposits protocol fees from swaps and borrowing as additional SUSHI tokens bought from the market. Existing liquidity providers can also move to Boba to obtain larger farming yields.
Alan Chiu, CEO of Enya, the core contributor to Boba Network, said:
“Sushi is one of DeFi’s OGs, so naturally we’re excited to welcome it to Boba. Both Boba and Sushi users will benefit from this integration, as the Boba community will get to use some of the most trusted DeFi products out there, while the Sushi ecosystem will tap into new liquidity, new users, new developers, & new communities.”
Sarang Parikh, Lead Dev at Sushi, said:
“We are excited to deploy our product suite to Boba, which allows us to serve an ever growing user base with all the dApps a DeFi user needs. We can’t wait to make Sushi scalable.”
Boba Network is the first multichain Layer-2 blockchain scaling solution and Hybrid Compute platform offering lightning fast transactions and fees up to 60x less than Ethereum. Hybrid Compute brings the power of Web2 on-chain, with smarter smart contracts that allow developers and creators to leverage off-chain compute and real-world data to offer an enriched experience unlike anything else on the market today.
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