Throughout the past year, the world of crypto has witnessed the decentralized finance (DeFi) market grow and evolve to unprecedented levels. Blockchain technology and cryptocurrencies are taking the financial world by storm. There has been a slew of innovative products developed to provide investors with creative ways to yield returns on their investments, such as yield farming.

SushiSwap, a relatively new decentralized exchange (DEX), is currently setting an example for DeFi technology. The DEX is an AMM (automated market maker) and DeFi token with a continuously growing user base. Uniswap, one of the best-known Ethereum dApps, was the inspiration for the DEX. SushiSwap extends the platform’s group governance structures and DeFi functionality.

So, what’s all the fuss about? You’ve come to the right place if you want to learn more about SushiSwap (SUSHI). This guide will teach you everything you need to know about the project, from where it all began to the risks and benefits of SushiSwap.

What Is SushiSwap?

SushiSwap is a decentralized exchange (DEX) and automated market maker (AMM) with its own smart contracts. It was developed by “Chef Nomi” in 2020 and runs on the Ethereum blockchain. Decentralized exchanges have been a stable environment for peer-to-peer cryptocurrency transfers, without neither the requirements nor interference of any middlemen or third parties. Providing its own AMM ensures that assets are priced using a trading algorithm, rather than an order book in the way conventional exchanges operate.