Sushi, a prominent decentralized exchange (DEX), has now integrated with Filecoin, the world’s largest decentralized storage network. This collaboration marks a pivotal moment in the evolution of decentralized storage and exchange services, heralding a new era in managing digital data and assets.
First DEX to operate on Filecoin
Sushi’s integration into the Filecoin network is noteworthy, establishing it as the first DEX to leverage this platform. The expansion includes the introduction of Sushi’s advanced versions 2 and 3 automated market makers (AMMs) with concentrated liquidity pools. The feature is set to facilitate more efficient direct trading and liquidity provision within the Filecoin network.
An additional key feature of this integration is the extension of Sushi’s cross-chain swap functionality, SushiXSwap, to Filecoin. This allows for seamless token swapping between Filecoin and over 30 other blockchain networks, including Ethereum, Arbitrum, Polygon, and others. The integration simplifies the trading process by eliminating the need for bridging or using native Filecoin tokens, thus streamlining the user experience.
This partnership highlights Sushi’s role in the advancement of multi-chain and cross-chain technology while also inviting users and developers to explore the capabilities of Filecoin’s decentralized storage. The integration was facilitated with support from Laconic.com, which provided essential subgraph index hosting services.
For users, the integration means access to a range of new functionalities. These include the ability to bridge assets from Ethereum to Filecoin using Axelar Bridge and Celer Bridge, token swapping through Sushi on Filecoin, and providing liquidity to existing or new pools on the Filecoin network.
As part of the integration celebration, the “Filecoin x Sushi Bomb Diggity NFT” is being introduced in the “Sushi Multi-Chain Feast” Campaign. This limited edition NFT, minted on the Arbitrum network, commemorates the partnership and is available to participants who complete designated tasks in the campaign.
The integration of Sushi on Filecoin is not just a technological achievement; it represents a significant stride in the decentralized exchange and storage domain. It signals an evolving dynamic in the crypto industry, enhancing accessibility and user-friendliness for traders and developers alike.
Source: https://www.cryptopolitan.com/sushi-decentralized-exchange-with-filecoin-integration/