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Thursday, December 1, 2022

SushiSwap DEX Coming Soon To Avalanche

Very soon SushiSwap is going to offer decentralized devotees a crucial reason for the use of Avalanche. Every user and developer present in the blockchain of Ethereum for the past few months has the knowledge of the recurrent complaint against the network.

Owing to the reason of the increased demand for DeFi products, the ETH network is frequently faced with congestion challenges. Due to this congestion, the transaction fees have exponentially surged.

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On the other hand, Ethereum possesses the majority of these products but it becomes a huge problem if users are unable to access a cheaper and faster network despite massive product availability.

Avalanche Welcomes SushiSwap DEX

Amid the congestion and high transaction fees, Avalanche is all geared up to welcome SushiSwap, a decentralized exchange (DEX) to their network.

The developers of Ava Labs believe that the addition of the leading decentralized exchange according to the TVL (total locked value) in Ethereum might help the growth of Avalanche in their DeFi offerings as well as compete with ETH.

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During the beginning of the year 2021, developers had introduced a bridge for ETH indicating DeFi assets including Aave, Chainlink, and Wrapped Bitcoin already present in the network. As a result, this was naturally their next step.

A decentralized exchange is a kind of product of DeFi and allows people to do their trading in various kinds of cryptocurrencies. Binance and Coinbase are centralized exchanges and differ from DEX which does not supervise the coins of their users. Rather DEX uses smart contracts in order to facilitate the trading of peer-to-peer. They prioritize privacy and security more than easy transactions.

Avalanche adding SushiSwap is definitely a forward step. SushiSwap started as a replica of Uniswap but soon evolved and grew. The launch date is yet to be decided.

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