Sushi is making fees for leveraged margin trades “even more astronomically minimal” by bringing BentoBox driven Kashi to Polygon. Meanwhile, Yearn’s oSushi suggestion is intended to counteract increased selling pressure on SUSHI.
Sushi also supports Fantom, BSC, HECO, xDAI, and Harmony EVM-Compatible chains.
Polygon is a layer two solution that uses Plasma side chains and a Proof-of-Stake network to provide scalable, stable, and instant Ethereum transactions. Sushi is just bridging to the PoS chain, and now users of the DEX SushiSwap can move their ERC20 tokens to the Polygon network by crossing the Matic Bridge.
During this operation, the tokens are locked on the Ethereum network after crossing the Matic bridge. The exact number of tokens is minted on the Polygon network as a pegged token (1:1). Tokens are burned on the Polygon network and unlocked on Ethereum when transferred back to the Ethereum network.
Sushi, which accounts for approximately 18.5 percent of DEX volume, has also hosted the first non-Ethereum Mainnet Onsen farms.
Furthermore, Polygon has added its newest offering, Kashi is driven by BentoBox, to make fees for performing leveraged margin trades even more astronomically low. Currently, seven markets are available on Kashi via Polygon.
With this new growth, the SUSHI token’s price has risen to $17.13, but it was still down 27 percent from its all-time high of $23.38 two months ago.
Despite the dominant DEX Uniswap deploying its v3 on the Ethereum mainnet in the last two days, SUSHI has increased by 36% in the previous two days.
Unlike SUSHI, MATIC’s price is currently down at $0.76, but it was just a week ago that it reached its all-time high of $0.94. In addition, the native token of QuickSwap, the AMM based on Polygon, Fast token, fell 26.5 percent to $595.
In the midst of this, Yearn (YFI) founder Andre Cronje unveiled non-transferable and non-tradeable oSushi, a supply & demand vesting-based design for emission-based projects, on Friday.
Cronje is proposing a Curve-like system in which SUSHI tokens will be locked between 1 month and four years to obtain oSushi, as there are currently no mechanics to monitor the emission of Sushi to liquidity pairs and the elimination of reward vesting resulting in increased selling pressure for SUSHI, making yield less desirable for liquidity providers.
“If you haven’t connected the dots yearn will be getting into the sushi lp game with this,”noted analyst Ceterispar1bus.