Skip to main content

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.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more