Sushi Launches on Filecoin, Expanding Decentralized Exchange Services
Rebeca Moen Nov 11, 2023 06:14
Sushi, a prominent decentralized exchange, is now integrated on Filecoin, enhancing its cross-chain capabilities and launching a special NFT to commemorate the collaboration.
Filecoin, the world's largest decentralized storage network, now welcomes Sushi, a prominent decentralized exchange (DEX), marking a pivotal development in decentralized storage and exchange services. Filecoin's unique approach to cloud storage, functioning as an open-source marketplace, protocol, and incentive layer, revolutionizes how data is stored, requested, and transferred. This technology, designed for securing valuable datasets, positions Filecoin as a formidable alternative to conventional cloud storage, offering an efficient, cost-effective, and decentralized solution.
Sushi's integration into Filecoin is a milestone, establishing it as the first DEX to operate on this network. This expansion includes the introduction of Sushi's version 2 and version 3 automated market makers (AMMs) with concentrated liquidity pools on the Filecoin network, facilitating direct trading and liquidity provision. Additionally, SushiXSwap, Sushi's cross-chain swap feature, extends to Filecoin, enabling seamless token swapping across Filecoin and over 30 other networks, including Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, and Avalanche. This integration eliminates the need for bridging or using native Filecoin tokens, simplifying user experience.
The Sushi-Filecoin partnership not only reinforces Sushi's leadership in the multi-chain and cross-chain arena but also invites users and developers to explore Filecoin's decentralized storage capabilities. This collaboration was made possible with the support of Laconic.com, providing crucial subgraph index hosting services.
The integration offers a variety of functionalities for users, including asset bridging from Ethereum to Filecoin using Axelar Bridge and Celer Bridge, token swapping via Sushi on Filecoin, and liquidity provision to existing or new pools on the Filecoin network.
In celebration of this integration, the “Filecoin x Sushi Bomb Diggity NFT” is being launched as part of the "Sushi Multi-Chain Feast" Campaign. This limited edition NFT, minted on the Arbitrum network due to Filecoin's current non-integration with Galxe, commemorates the collaboration and is available to participants who complete designated tasks.
Participants in the campaign are required to follow Sushi and Filecoin Network on Twitter, like and retweet the announcement tweet, and engage in token swapping and liquidity provision of at least $10 on Filecoin via Sushi. The campaign is facilitated through Galxe.
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