Popular decentralized exchange (DEX) SushiSwap recently announced plans to expand its operations to the Aptos Network. As part of the development, the exchange intends to integrate its Sushi’s version 2 Automated Market Maker (AMM) and SushiXswap into the Aptos network.
Having operated on the Ethereum network since its launch in August 2020, this incorporation marks the first time that SushiSwap has integrated with a blockchain that is not natively compatible with the Ethereum Virtual Machine (EVM). Some of the EVM chains powering Sushi include Fantom, Polygon, Arbitrum, and BNB Chain.
Supported by venture firm Andreessen Horowitz (a16z), Aptos is a layer 1 blockchain that aims to provide developers with the ability to use Move, a Rust-based programming language, to create decentralized apps. The platform shared its intention to make necessary improvements that will enhance the user experience (UX) and promote better collaboration between users and developers on both platforms.
The Aptos team commented on the expansion, saying:
“At Aptos, we wholeheartedly believe in the potential of Web3 to bring real opportunities to real people, whether that means broader access to services or greater ownership over creative output. It’s why we helped create Move and why we’re excited about what’s possible with security- and UX-focused platforms like Sushi, and with projects powered by our global builder community.”
The recent development is seen as a significant milestone towards Sushi’s goals of becoming more prominent in the world of cross-chain and multi-chain operations. The expansion aims to make assets easily accessible across major blockchain networks as well as improve the trading experience.
Despite SushiSwap’s expansion plans, its native token, SUSHI, and Aptos’ native token, APT, have not been doing so well. According to Coinstats, SUSHI is down -1.32% in the last 24 hours, with the price at $0.58 at the time of the writing. APT, on the other hand, trades at $5.1, showing a -3.26% in the last 24 hours.
Meanwhile, SushiSwap had earlier encountered security issues in April. The protocol suffered a $3.3 million exploit caused by an approval-related bug in its RouterProcessor2 contract resulting in a loss of over $3 million (1800 ETH). SushiSwap later announced its intention to compensate the affected users for their losses.
