SushiSwap Hopes to 10x Market Share With 2023 Plans
- 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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Decentralized finance (DeFi) application SushiSwap is planning several big updates for 2023, including a decentralized exchange (DEX) aggregator, the platform said in a blog post on 16 January.
According to the 2023 roadmap, SushiSwap intends to focus heavily on its DEX products in order to make the protocol sustainable and profitable again, as well as increase its market share by “10x” this year. With hopes to “deliver the best user experience”, SushiSwap is set to launch a new DEX aggregator in the first quarter of 2023, which will give traders access to various DeFi protocols, and provide them with better price and liquidity. The CEO of SushiSwap, Jared Grey, said in the blog post:
“Ultimately, we will provide deep liquidity, optimal pricing, sustainable tokenomics, & an easy-to-use platform, placing you first in everything we build. Now, Sushi commands ~2% of the AMM market & 0% of the aggregation market. By executing our vision, we intend to 10x our market share in 2023.”
Grey noted that the Sushi’s aggregation router was built in “stealth mode” throughout 2022, and was part of the platform’s plans to become sustainable by entering the DEX aggregation business. Another product in the works is Sushi Studios, a decentralized incubator that will help Sushi launch independently-funded projects to support its ecosystem growth “without burdening the DAO treasury”.
The CEO further added that several other products were currently developed in stealth mode, and that the Sushi is expected to launch its non-fungible token (NFT) marketplace Shoyu in the first quarter of 2022, alongside a perpetual DEX platform. The platform is also building a governance dashboard with a focus on user experience, which will show Sushi’s budget, crypto wallets, audits, treasury expenditures, and more.
SushiSwap’s 2023 roadmap comes a month after Grey revealed in a governance proposal that the platform’s treasury had only one and a half years of runaway left. On 30 December, Grey introduced another proposal to redesign the tokenomics of the platform to try and strengthen its treasury reserves, and in his latest blog post confirmed that “we took measures to secure our runaway for multi-year operations”.
- The new partnership with Moonpay allows Uniswap users to purchase crypto using debit and credit cards, as well as bank transfers, directly on the popular DEX.
- The platform will initially support purchases of DAI, ETH, USDC, USDT, wBTC, and wETH on the Ethereum, Polygon, Optimism, and Arbitrum networks.
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- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.
- The new RADAR token is meant to reward active community members for participation, contributions, and curation on DappRadar.
- Less than 24h after getting listed on Uniswap and SushiSwap, the token is already generating DAPR of 18,500% and 2,450% respectively.