One of the pioneering decentralized exchanges (DEX), Sushi, has broadened its horizons by integrating with the Aptos layer-1 blockchain. This expansion marks a significant deviation for Sushi, as Aptos is the first non-Ethereum Virtual Machine (EVM) compatible blockchain it has ventured into. Before this, Sushi was primarily accessible on platforms like Ethereum, Arbitrum, Base, Polygon, Fantom, and BNB Chain, among others, as reported by DefiLlama.
As of the latest data, Sushi boasts a total value locked (TVL) of $350 million, with a dominant share of $267 million anchored on Ethereum. In contrast, Aptos presently holds a modest $45 million in TVL. Given these figures, Sushi’s foray into Aptos could potentially drive an influx of capital, positioning it to compete head-on with other non-EVM chains, including the likes of Solana, Mixin, and Osmosis.
Commenting on the strategic move, Sushi emphasized the broader vision, stating, “Branching out to Aptos not only offers deeper liquidity spanning prominent blockchain networks but also considerably enhances the cross-chain trading ambiance.”
Interestingly, Aptos’s creation traces back to former employees of Meta (previously known as Facebook). Although its native token APT was launched last year and boasts an impressive market capitalization surpassing $1 billion, Aptos has found it challenging to lure a substantial slice of the decentralized finance (DeFi) TVL pie, with Sushi’s integration, which could soon change.
