- Summary:
- DeFi platform, Sushi, has launched its products on Boba Network. We discuss what this integration brings to the two platforms and their users.
Sushi, a supplier of DeFi services, is launching its products on Boba Network, the world’s first multichain Layer-2 blockchain scaling solution and Hybrid Compute platform. Following SUSHI’s deployment on Boba, token holders can benefit from the xSUSHI revenue sharing mechanism. The system distributes protocol fees from swaps and borrowing in the form of newly purchased SUSHI tokens.
What’s in it for Sushi and Boba Network?
Boba will benefit from Sushi’s extensive catalogue of products following the deployment. First, Legacy Swap will go live, then Kashi’s margin lending platform, then Bento Box, and finally Furo. In order to kickstart liquidity and adoption, Boba and Sushi have pledged to provide liquidity mining rewards for the first full year after deployment. Also, Boba will be able to increase the variety of its DEX offering thanks to this deployment.
Current liquidity providers have the option of relocating to Boba in order to take advantage of its higher yields. As a result of this merger, Sushi and Boba customers alike will reap the benefits. Specifically, the Sushi ecosystem will get access to fresh liquidity, new users, new developers, and new communities. On the other hand, the Boba community will have access to some of the most reliable DeFi solutions available. This is because Sushi has firmly established itself in the DeFi market.
Sushi is one of the most well-known and cutting-edge DEXs available today, with a weekly volume of $350 million and a total locked value of over $900 million. Boba Network, on the other hand, is ground zero for Layer-2 blockchain scaling solutions and the pioneer of the Hybrid Compute platform. Hybrid Compute is a Web2 on-chain computing solution. In order to provide users with a service that is truly unique, developers and creators can take advantage of off-chain computing and real-world data through the platform’s enhanced smart contracts.