Aelf Launches SashimiSwap: A Fairer, Simplified DeFi Experience

Aelf network has officially launched SashimiSwap, a decentralized trading platform inspired by SushiSwap but designed to deliver a simpler and fairer user experience. Following the debut of AESwap, the first DeFi project on the Aelf network, SashimiSwap aims to revolutionize the decentralized exchange (DEX) ecosystem by enhancing transparency, usability, and rewards.

What is SashimiSwap?

SashimiSwap is a new automatic market maker (AMM) platform built by the Aelf team. Unlike other forks like SushiSwap, SashimiSwap is independently developed and does not share liquidity with SushiSwap.

Key Features Include:

• High-yield staking and mining opportunities for liquidity providers.
• Simplified user experience for effortless participation.
• A 0.3% transaction fee, with 0.25% used to reward liquidity providers and 0.05% allocated for community governance via the SASHIMI DAO contract.

Staking and Mining Rewards

Liquidity providers on Uniswap can stake their LP tokens and earn SASHIMI tokens at block height 10,833,000 (September 10, SGT).

Reward Mechanism:

• 10x Bonus for Early Adopters:
  • 1,000 SASHIMI tokens will be released in each of the first 100,000 blocks.
  • After the first 100,000 blocks, the reward drops to 100 SASHIMI tokens per block.

Liquidity Pools Available for Mining:

• ETH-USDT
• USDC-ETH
• DAI-ETH
• YFI-ETH
• LEND-ETH
• LINK-ETH
• SNX-ETH
• ELF-ETH
• WBTC-ETH
• SASHIMI-ETH

What Makes SashimiSwap Unique?

1. No Development Funds:
   Unlike SushiSwap, which allocates 10% of its funding for team development, SashimiSwap eliminates this, focusing all transaction fees on community and user rewards.

2. Transparent Governance:

   • Community governance via SASHIMI DAO ensures that users have control over the platform’s future.
   • All remaining fees after rewards will support governance initiatives.

3. Cross-Chain Compatibility:

   • The platform will enable asset swaps between SashimiSwap and AESwap through CCTP (Cross-Chain Transfer Protocol).
   • This integration will create a permissionless and decentralized cross-chain DEX.

Aelf’s Commitment to DeFi Innovation

The Aelf team has emphasized its commitment to advancing blockchain and DeFi technologies:

• Integration with Uniswap: SashimiSwap is already connected to Uniswap, offering liquidity providers additional earning opportunities.
• Upcoming Connection with AESwap: Aelf’s AESwap platform will soon link with SashimiSwap to enhance cross-chain trading capabilities.
• Focus on R&D: The team continues to develop features and explore innovative ways to improve the user experience.

AESwap Mobile App Testing:

• The mobile version of AESwap has completed the first phase of development and is undergoing internal testing.
• Public beta testing is set to begin on September 11, giving users a sneak peek at the mobile trading experience.

SashimiSwap’s Role in the DeFi Ecosystem

SashimiSwap positions itself as a fairer alternative to existing AMM platforms, addressing some of the criticisms faced by platforms like SushiSwap. By focusing on transparency, community rewards, and cross-chain capabilities, SashimiSwap has the potential to:

1. Attract More Users: Its simple interface and high-yield opportunities make it beginner-friendly.
2. Increase Liquidity: By incentivizing liquidity providers from platforms like Uniswap, SashimiSwap can boost trading volumes.
3. Foster Innovation: Cross-chain integration and DAO governance set the stage for future advancements in DeFi.

FAQs About SashimiSwap

1. What is SashimiSwap?
SashimiSwap is a decentralized trading platform built by Aelf, offering staking, mining, and cross-chain trading features.

2. How does SashimiSwap differ from SushiSwap?
SashimiSwap is not a fork of SushiSwap and does not share liquidity. It eliminates development funds and focuses on community governance.

3. What are SASHIMI tokens?
SASHIMI tokens are the native rewards for liquidity providers on SashimiSwap.

4. Which liquidity pools are eligible for mining?
Pools include ETH-USDT, USDC-ETH, DAI-ETH, and others listed above.

5. How does SashimiSwap ensure transparency?
Through its SASHIMI DAO contract, the platform involves the community in decision-making and governance.

Conclusion

SashimiSwap is a significant step forward in creating a fairer, more transparent decentralized exchange ecosystem. By eliminating development funds, rewarding liquidity providers, and integrating cross-chain capabilities, SashimiSwap sets itself apart from competitors like SushiSwap.

As the platform connects with AESwap and rolls out its mobile app, SashimiSwap is poised to become a leading player in the DeFi space.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.