• SushiSwap is launching a new Perpetual contract futures exchange on the Sei Network.
• The move is part of an effort to expand SushiSwap’s footprint beyond the Ethereum Blockchain.
• The partnership between SushiSwap and Sei Network is beneficial for both firms as they look to grow their influence and generate new revenue streams.
The decentralized exchange (DEX) platform SushiSwap (SUSHI) is expanding its footprint in the blockchain ecosystem as it is set to launch a new Perpetual contract futures exchange on the Sei Network. This move is part of an effort to expand SushiSwap’s presence beyond the confines of the Ethereum Blockchain.
The partnership between SushiSwap and the Sei Network is beneficial for both firms. For SushiSwap, it will increase its influence and generate a new revenue stream for the protocol. For the Sei Network, it will provide them access to the massive user base of the SushiSwap platform.
SushiSwap was one of the first DEXs to make its way into the Decentralized Finance (DeFi) ecosystem. It was created by Chef Nomi and after the rug pull incident, Sam Bankman-Fried (SBF) took over its management. Since then, the trading platform and its ecosystem has stabilized and its native token SUSHI is now one of the most popular tokens in the DeFi space.
The launch of the Perpetual contract futures exchange is a way for SushiSwap to tap into the massive growth potential of the Sei Network. This new development will also allow users to trade perpetual futures contracts with up to 150x leverage.
SushiSwap and the Sei Network have also announced plans to launch a joint venture in the near future. This joint venture will focus on creating a decentralized derivatives exchange that is built on the SushiSwap protocol. This new exchange will be open to all users, regardless of their location or affiliation.
The partnership between SushiSwap and the Sei Network is expected to be a win-win situation for both firms. The former will gain access to a new and potentially lucrative market while the latter will get access to the large user base of the SushiSwap protocol. This partnership could be the start of a new era in the DeFi space and we are excited to see where it takes us.