Payments and DeFi-centric Blockchain, Fuse Network, Announces Major Integration with Sushi
TEL AVIV, Israel, Jan. 18, 2022 /PRNewswire/ -- In a major milestone for the project, a leading payment and decentralized finance (DeFi) blockchain player, Fuse Network, today announced their integration with leading mutlichain DeFi protocol Sushi. This comes after rapid platform and ecosystem growth for Fuse.
Launched in 2020, Sushi's components include a decentralized exchange (DEX) protocol, the Kashi lending protocol, the BentoBox dApps ecosystem, the xSUSHI staking platform, the Miso initial DEX offering (IDO) platform and the upcoming Shoyu NFT marketplace. Sushi's native SUSHI token powers the platform's govenance and is used to reward the liquidity providers on the incentivized trading pools on SushiSwap.
As part of the integration, the SushiSwap automated market maker (AMM)-based decentralized exchange (DEX) and the liquidity provisioning interface have been deployed to the Fuse Network blockchain. At a later stage, the Kashi lending network and Miso initial DEX offering platform will be added.
In order to bootstrap liquidity to the new major DEX, Fuse will also launch liquidity rewards programs on certain trading pools on SushiSwap. The exact trading pools and details of the program will be announced separately.
Commenting on the integration, Fuse Network CEO Mark Smargon said:
"Sushi is a multichain powerhouse in the DeFi space that was among the technology's pioneers before it was cool. Sushi's extension to Fuse is testimony to the progress that Fuse has made since its launch and its unique value proposition as a mobile-centric blockchain platform."
Fuse is a platform featuring a fast and low-cost, Ethereum-compatible blockchain, a robust plug-and-play mobile-centric crypto payments infrastructure for creating token-based applications and a rapidly growing ecosystem of payments, decentralized finance and NFT projects.
Sushi is a leading all-in-one DeFi platform and ecosystem running on multiple EVM-compatible blockchains. At its core it relies on the AMM-based DEX SushiSwap that is listed in the top 5 DEXes by trading volume. Sushi's community governance is powered by the protocol's native SUSHI token.
Robert Miller, Marcom Director
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SOURCE Fuse Network
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