Liquidity and Swap Volume on Sushiswap

In this dashboard we can see past 30 days daily liquidity on Sushiswap as well as daily volume on Sushiswap. We also see top contributors to these metrics.

SushiSwap? How does it work?

SushiSwap is an automated market maker that uses UniSwap’s code. Users can swap cryptocurrencies, borrow, and receive rewards on a platform that runs on Ethereum.

With SushiSwap, users can buy and sell different cryptocurrencies between themselves, like on a traditional exchange.On SushiSwap, tokens are supported by smart contracts rather than a single central entity, and users lock crypto on the software which traders can then access.It should be noted that traders who trade locked assets pay a fee, which is then shared proportionately among all liquidity providers.

Liquidity Pools in Sushiswap

The purpose of liquidity pools is to pool tokens (also known as liquidity) so that users can use them to make trades in a decentralized way. These liquidity pools are created by users and DApps (Decentralized Apps) who want to benefit from their usage. The SushiSwap liquidity pools allow anyone to provide liquidity, and in return, they receive SLP tokens (SushiSwap Liquidity Provider tokens). For example, if a user deposited $SUSHI and $ETH, they would receive SLP tokens for the SUSHI-ETH pool.A user can reclaim their tokens from the LP pool at any time, which represents their share of the pooled assets. Every time another user uses the pool to trade between $SUSHI and $ETH, a 0.3% fee is taken, with 0.25% going to the pool.

Since Uniswap helps to provide liquidity only when it’s active, liquidity providers only earn revenue when they’re actively supplying liquidity. Once they withdraw their portion of the pool, they stop earning passive income.

But with Sushiswap, SUSHI tokens can also be issued for providing some liquidity into a pool. While SUSHI tokens will not give you a stake in the protocol, they will also give you continued access to a portion of the protocol’s fees, accumulated in SUSHI, even if you decide not to participate in the liquidity provision.

How do we swap Tokens on Sushiswap?

Using SushiSwap, users can buy and sell different cryptocurrencies among themselves, like they do on a traditional exchange. The tokens are supported by smart contracts as opposed to a central organization, and users lock crypto into the software so traders have access to it.The trader who trades locked assets pays a fee, which is then proportionately distributed among all liquidity providers.

Swap : A swap is the process of trading one cryptocurrency for another, for example, USD Coin (USDC) for Ethereum (ETH).

How to Swap :

  • Set up a wallet with SushiSwap (you’ll need some Ethereum to cover gas fees).
  • Next, choose which token you want to sell and which token you want to receive.
  • After that, enter the amount you wish to trade.
  • Uniswap should be approved before swapping tokens.
  • As soon as the transaction is complete, your new tokens will automatically appear in your wallet.

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