Decentralized exchange (DEX) Sushiswap (SUSHI) hopes to grow its market share tenfold in 2023, according to Jared Grey, the project’s CEO.
Grey says in a new blog post that Sushiswap plans to release its new DEX aggregation router in the first quarter of the year, a move he thinks will increase the project’s swap volumes.
[adinserter block="1"]The CEO notes Sushiswap developers already built an aggregation router, a tool that lets users monitor numerous decentralized finance (DeFi) protocols, “in stealth mode” last year.
“We believe aggregation helps deliver the best user experience by serving users with optimal pricing. We leverage this innovation by building deeper liquidity in our pools and permitting [users] to benefit from increased swap volumes and fees, leveraging our Trident framework across multiple networks.”
Grey also says Sushiswap has taken measures to “secure our runway for multi-year operations.”
“Now, SUSHI commands ~2% of the AMM [automated market maker] market and 0% of the aggregation market. By executing our vision, we intend to 10x our market share in 2023.”
The CEO notes Sushiswap plans to launch a decentralized incubator called Sushi Studios that will foster independently funded projects to help boost ecosystem growth.
“These products help increase Sushi’s brand without hindering the DAO’s [decentralized autonomous organization] core DEX focus, the main historical obstacle to Sushi’s horizontal product direction. SUSHI has a solid and resilient brand representing the best of DeFi [decentralized finance]; with Sushi Studios, we can leverage the brand to reach all users.”
SUSHI is trading for $1.25 at time of writing. The 141st-ranked crypto asset by market cap is up 1.38% in the past 24 hours and nearly 10% in the past seven days. It remains nearly 95% down from its all-time high of more than $23, which it hit in March 2021.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
