Cryptocurrencies

SushiSwap (SUSHI) will have made Uniswap (UNI) Even Stronger Finally! – Cryptocurrencies

DeFi is exploding, but it is still fragile; the “savage” cloning practices of a successful model like Uniswap (UNI) could lead the industry to collapse. Bitcoin (BTC) to take advantage of it? Are SushiSwap’s Sushi rotting? The early successes are giving way to a fall that could very well end in a shipwreck.


Nothing beats the original?

And the winner is Uniswap : notice to amateurs who would try like the Chief Nomi and his SushiSwap to clone the platform.

Statistics Flipside Crypto indicate thatUniswap would have benefited from a new inflow of liquidity one month after the launch of SushiSwap.

Chief Nomi had designed SushiSwap with a remuneration structure based on the Sushi token: users who migrated to the platform and provided liquidity, received Sushi in reward.

As of September 9, 2020, SushiSwap had a Total Value Locked (TVL) of $ 800 million, leaving Uniswap with a TVL of $ 400 million.

But the upward trajectory of SushiSwap reversed after a succession of events that tarnished its reputation.

Its launch strategy was criticized from the start, the platform lost investor confidence following the liquidation of Sushi worth $ 14 million per Chief Nomi.

UNI unites Uniswap and SushiSwap

In the meantime, Uniswap has created its own token, theUNITED, which turned out to be a success. According to Flipside Crypto, the majority of token buyers UNITED are new users and part of the additional funds would come from the liquidity pools of SushiSwap.

The promises of SushiSwap initially convinced users, which is no longer the case: the takeover by FTX exchange seems to have no impact on platform volumes.

Since the launch ofUNITED, the TVL ofUniswap rose from $ 786 million to $ 2.09 billion, while that of SushiSwap just dropped to $ 402 million.

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JIAOZI the next X20 from DeFi or damaged crypto-ravioli? His fate could also be fixed in the coming weeks or months. SushiSwap’s collapse could set a harmful precedent for other clones. Can the platform still count on a community of fans? Let’s hope that Chef Nomi didn’t put fugu in his dishes: given his failed preparation, those who have eaten it will soon have to say goodbye … to their investment.

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