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SushiSwap up 15%, is this a new uptrend?

 


SUSHI is moving sideways on the 4 hour chart.

SUSHI holders could benefit from a long-term uptrend. Recently, developer 0xMaki shared a proposal to integrate SushiSwap with LayerZero via their first omnichain application called Stargate Finance.


What is SushiSwap LayerZero?

LayerZero is a decentralized cross-chain solution for integrating multiple blockchains. The protocol allows the network to interact with an application without a third party or token.


In this way, LayerZero and Stargate for SushiSwap eliminate the disruptive factors involved in swapping tokens from one native chain to another blockchain. The developer explains:


LayerZero is an omnichain asset transfer protocol that uses the Delta Δ algorithm to solve the bridging trilemma:


Instant Guaranteed Finality: the guarantee of funds on the destination chain when a transaction on the source chain is successfully completed.


Unified liquidity: shared access to a single pool of liquidity across multiple chains.


Integrated on multiple blockchains, SushiSwap could pool all of its liquidity with LayerZero and the Stargate application without a single vulnerability.


This means that the different versions of the DEX on Ethereum, Polygon, Binance Smart Chain, Fantom and other platforms could introduce unified cross-chain options and merge their Total Value Locked.


According to 0xMaki's proposal, integration with Stargate would "facilitate" the transfer and exchange of tokens between native assets. In this way, SushiSwap could realize its potential and offer users an improved cross-chain trading experience, new strategies and higher liquidity in the SUSHI pools.


SushiSwap as a multi-blockchain application

In addition to these features, Stargate facilitates transactions by tracking the user's gas reserves. As the developer explained, the application can move gas between different blockchains to facilitate a transaction. 0xMaki added:


This eliminates the hassle of finding a gas tap, requesting gas from another user, or relying on a user application to send you enough gas after the transfer.

Stargate and its native token STG have already attracted the attention of major players in the crypto space. Sam Trabucco, CEO of Alameda Research, spoke of the company's long-term bullish stance on STG.


The company participated in the recent STG auction where it "bought all the tokens." The assets are kept under lock and key for at least 3 years.


STG was recently launched on crypto exchange FTX via the spot market. Immediately after the listing, the volatility of the token price increased, after which it experienced a slight downtrend in the last hour, posting a gain of “only” 128% in the last week.

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