The leading decentralized exchange platforms have been looking for suitable alternatives for Ethereum due to the reason that users have been complaining about the high gas fees. This is mainly because SushiSwap has been deploying its platform towards 5 more networks.
Many of the important protocols of decentralized finance are now trying to develop a multiple chain DeFi ecosystem along with SushiSwap organizing their contracts on 5 networks as well as Balancer declaring ports for Polkadot and Moonbeam.
New Contracts By SushiSwap
On the 3rd of March, Joseph Delong, the CTO of SushiSwap, had made a public announcement that DEX has created contracts on Binance, Polygon, Fantom, Moonbeam, and xDai. Delong has also informed that the company intends to make a few more deployments in the future that will include Optimism. Another port from Solana has also been shortlisted for consideration.
The users can now expect a much better experience on both the networks of Fantom and Binance Smart Chain that are presently in possession of positive support for their list of tokens. These 3 networks will have to coordinate together before SushiSwap can give a satisfactory user experience to everybody.
Delong further added that the trend is being followed by the industry of multi-chain and bridge deployments like a middle-ground solution. On the other hand, the 2nd layer solution of scaling for ETH is still in-progress.
Delong also mentioned that there are no awards for incentives at present for the pool users of multi-chain.
Dune Analytics has reported that Sushi is presently the 2nd biggest DEX platform because of the reason that they have $3 billion weekly volume and ranked just after Uniswap that has $6.5 billion weekly volume.
These ports have been announced owing to the high gas price on ETH.