What is SushiSwap (SUSHI)

SushiSwap or SUSHI (SUSHI/USDT – Trade it here) is a community driven decentralized exchange. You can stake, earn, swap, borrow and leverage your crypto all in one go at their platform. Basic information for the SUSHI token is available on the MEXC Digital asset introduction page.

What is SushiSwap

How Does it Work

SushiSwap is an Ethereum-based program that aims to incentivize a network of users to run a marketplace where users may purchase and trade crypto assets. Users first place their assets in smart contracts. Then, other traders will buy or sell crypto from the liquidity pool. After the process, the swap is complete.

Ultimately, they are trying to mimic a regular exchange with buying and selling of crypto between users. However, their differences lie in the way they operate. Instead of a single central entity, Sushiswap uses smart contracts and users lock their crypto onto the program; allowing traders to access and trade. Those traders will then pay a gas fee (SUSHI) which will be allocated to users who provided crypto into the liquidity pool.

SushiSwap will also reward users who maintain the liquidity pool. Everyday SUSHI will compensate a total of 100 new SUSHI along with protocol fees to their users. As a user, you can reclaim your assets anytime along with your earnings (In their term “Harvest”). If you want to earn more crypto after the harvest, you can utilize their SushiBar. SushiBar allows you to stake your SUSHI and earn more tokens. It is in a nutshell quite a simple yet effective process for generating some passive income.

Recent Price & Performance of SushiSwap Token (SUSHI)

At the time of writing (November 4, 2022), SUSHI is currently performing at their All-Time-High $1.850 USD with a market cap of $235,415,611 & fully diluted market cap of $462,526,311. You can check the live price of SUSHI Token right here!

How to buy SushiSwap Token (SUSHI)?

You can buy SushiSwap Token (SUSHI) on MEXC by the following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “SUSHI” using the search bar to see the available trading pairs. Take SUSHI/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of SUSHI you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy SUSHI] to confirm your order. You will find the purchased SUSHI in your Spot Wallet.

You can find a detailed guide on how to buy SUSHI tokens here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshot and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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