Decentralized exchange (DEX) SushiSwap is now live on the Binance Smart Chain (BSC) and several other blockchain platforms in a bid to escape the rising fees of Ethereum.
According to Sushi’s chief technology officer (CTO) Joseph Delong, the exchange has deployed contracts on Fantom, Polygon, xDai Chain and Moonbeam Network, in addition to the Binance Smart Chain.
Delong claimed Fantom and Binance had good support for token lists already in place, telling users the experience was “relatively complete.” He said the other platforms would need some work on the end-user experience.
SushiSwap, with more than $3.3 billion in liquidity, was previously limited to hosting on the ethereum blockchain. However, rising gas fees have led to costly transactions for users, forcing projects such as Sushi to look elsewhere.
SushiSwap, which began as a copy of Uniswap’s open-source code, has gradually begun positioning itself as a serious competitor in the decentralized exchange space. A recent report by crypto analytics firm Delphi Digital found that Sushi has quietly managed to gain ground on Uniswap in terms of user activity and liquidity, despite the lagging price of the SUSHI coin.
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