What are Uniswap and Sushiswap? What's the difference?

BitMart资讯

2020-09-05 00:00 (UTC+8)

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The SushiSwap project is a DEX that has successfully replicated Uniswap.

As of September 2, the total 24-hour trading volume of the decentralized exchange (DEX) in the DeFi field reached 1.158 billion US dollars, but two months ago, this figure was only 42.95 million US dollars.

Uniswap is an Ethereum-based protocol funded by the Ethereum Foundation, which automatically provides liquidity and exchanges ETH and ERC-20 assets, allowing anyone to trade without placing an order. Unlike most exchanges that charge fees, Uniswap is designed to act as a public platform, a tool for the blockchain community to trade tokens without platform fees or middlemen, where you can find all the features of the exchange.

Uniswap is a special DEX that will be an Automated Market Maker for AMMs, replacing manual quotations with established algorithms, which not only eliminates centralized matching and settlement, but also eliminates market makers in transactions.

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What is SushiSwap?

The SushiSwap project can be understood as "the evolution of Uniswap with the addition of SUSHI token economics", and it is a DEX that successfully replicated Uniswap. It adopts one of the core concepts behind Uniswap-it also adopts the AMM model, and its token pool is similar to Uniswap.

The main difference between them is that SushiSwap has added a token economic incentive - SUSHI, which gives a part of the transaction fee to the holders of the SushiSwap token SUSHI, while Uniswap does not issue tokens. Like some governance tokens (YFI of yearn.finance, COMP of Compound), SUSHI can be sold in the secondary market, and SUSHI also has functions such as voting. Currency holders will become a community of interests and jointly promote the development of SushiSwap.

With Uniswap, users only earn pool transaction fees when they provide liquidity, and once withdrawn, there is no income.

Unlike Uniswap, SushiSwap allows users to earn capital pool transaction fees when providing liquidity. Even if you decide not to provide liquidity, those SUSHI will also entitle you to continue to earn a part of the transaction fees of the SUSHI protocol.