Sushi To Launch Full Product Stack On Harmony
- After launching SushiSwap in April, Sushi is set to release its full suite of products on Harmony by the end of the month.
- To incentivize users, the two have launched attractive yield farming campaigns and a hackathon.
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According to a press release shared with The Chain Bulletin, SushiSwap is set to launch a full suite of its products on the Harmony blockchain. The launch is scheduled for 28 June and was timed to celebrate Harmony’s 2-year mainnet anniversary.
The two will work together to build a strong cross-chain finance stack and bring thousands of new developers to build on Harmony. To support this effort, Harmony and Sushi have launched several campaigns to grow adoption.
A 12-month liquidity mining campaign with $1 million in ONE and $1 million in SUSHI rewards will begin upon launch. Another $2 million will be allocated to rewards on Kashi, a dApp built on top of BentoBox and deployed natively on Harmony. Next month, Harmony and Sushi will also co-sponsor a $100,000 hackathon consisting of four separate challenges, each with a maximum prize of $25,000.
“We believe this partnership with Sushi is just the beginning of bringing millions of people into decentralized finance,” said Stephen Tse, the Founder of Harmony. “As our mainnet matures, we are onboarding more key DeFi primitives that will enable access to many new communities and we are excited to work with Sushi on this journey.”
- In order to become sustainable and profitable again, SushiSwap plans to launch a new DEX aggregator in the first quarter of 2023.
- Other planned products for 2023 include a decentralized incubator, perpetual DEX platform, and “several stealth projects”, which will hopefully “10x” Sushi’s market shares.
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- North Korea’s Lazarus Group has moved around $63.5 million of crypto assets connected to the Harmony bridge hack over the weekend.
- The hackers tried to move a portion of the funds through Binance and Huobi, but the exchanges were able to freeze their account and recover around 124 BTC.
- Instead of using treasury funds, Harmony has proposed to make a 100% reimbursement by minting 4.97 billion ONE tokens, or a 50% one with 2.48 billion tokens.
- Both proposals were made based on the current price of the ONE token, meaning users will receive the same amount of tokens regardless of future price changes.