Sushiswap has decided to get a makeover by launching a tokenization project. Indeed, there is talk of a perpetual futures exchange on the Sei network in order to have more impact in all ecosystems other than that of Ethereum. This blockchain based decentralized trading application wants to kill two birds with one stone with this exchange launch. The idea is to allow Sushiswap to take an interest in something other than decentralized finance and above all to develop its ecosystem while creating new sources of income.
Sushiswap plans to launch a project on Sei Network
At a press conference in Miami, Jared Graythe “Head of Chief” of Sushiswap would have admitted that his platform is working on a revolutionary project. It is actually the launch of a perpetual futures exchange which will be done on the network Sei Network. In his own words, it would be “a new piece for nudes”. Jared Gray also wanted to clarify that the signing of a contract in this direction was effective.
The strong man of Sushiswap also admits to working on the project in close collaboration with the new layer 1 blockchain whose expertise is centered on decentralized trading applications. It’s a win-win partnership, because Sushiswap wants to take advantage of the Sei network and in return bring it added value to boost its brand image.
By partnering with Sei Network, Sushiswap is choosing to focus only on ecosystems that are not based on Ethereum, let alone DeFi. As a reminder, Sushiswap implemented a governance proposal a few days ago to restructure its tokemics. The objective for the exchange is to first enhance its native token and if possible generate an additional source of revenue for the protocol.
Sei Network will be able to rely on the Cosmos ecosystem of which it is a member to set up tailor-made channels for specific applications. Finally, perpetual contracts are a growing industry. They are growing so fast that they are now ranked eighth in total combined value locked.
Conclusion
The Sushiswap tokenization project is about to come to fruition. The exchange wants to try something other than decentralized finance and chooses to collaborate with Sei Network, which is a network of the Cosmos ecosystem. This collaboration will give more credit to the exchange token, we will know more soon.
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