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Tuesday, March 2, 2021

SushiSwap Expected To Cut Fees For AMM Raydium Powered By Solana

SushiSwap has been exploring the integration with the Raydium which is a high-speed AMM on Solana and is considering reducing their gas fees which is very high at the present moment.

SushiSwap is a crucial decentralized exchange and is the most recent to think about the action of mitigating the extremely high transaction fees of Ethereum. It is considered that it will involve a possibility of porting to the blockchain of Solana.

High Transaction Fees To Be Reduced By SushiSwap

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On 22nd February, SushiSwap has posted a proposal through their codename ‘Bonsai’ and suggested that they must build their platform on the ecosystem of Solana. The integration will be intending on mitigating the steep transaction fees on the ETH blockchain that has surged to another all-time high during the last 24 hours.

This proposal will be consisting the integration with the Raydium platform that is an automated Solana-based market producer introduced on 21st February.

The author of the proposal, ‘Handroll’, observes that Raydium already has the elemental support required for the liquidity pool of SushiSwap. Handroll also proposes that this integration must start with Raydium functioning simultaneously with SuhiSwap to create support for the liquidity pools as well as stake the Serum DEX of Solana.

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The proposal also claims that the users of SushiSwap will be enabled to conduct token swaps along with managing their farm yields quicker and with a significant reduction in the costs of transaction as soon as the integration is done.

The team of SushiSwap is eagerly awaiting that Bonsai will go live on testnet in the 1st quarter of 2021 itself. They forked from Uniswap during August 2020, following which they grew and became the most popular decentralized exchange in the industry with locked assets worth $3.6B.

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