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Crypto News

SushiSwap Unveils V3 Liquidity Pool Across 13 Chains For Decentralized Trading

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

sushi swap

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SushiSwap, a decentralized exchange (DEX), debuted new liquidity pools across 13 networks on Thursday, an initiative that might encourage network-wide trading and liquidity provision.

On prominent blockchains, including Ethereum, Arbitrum and Polygon, BSC, and Avalanche, version (v)3 concentrated liquidity pools will become available. The introduction aims to expose liquidity providers to greater trading volumes and liquidity while reducing their exposure to financial risks. SushiSwap’s head of business development, Alex Shefrin, stated that the pools are intended to provide traders with greater flexibility.

According to Alex Shefrin, it provides better control for traders to determine their slippage tolerance and overall perspective on particular assets. He added that the protocol would become “more efficient” in terms of incentives due to the v3 liquidity pools.

Over the coming months, the DEX team expects the v3 liquidity pools to be reachable on more than 30 chains. The team’s ambition for the future of the DEX involves broadening support for cross-chain activity.

Shefrin mentioned that the company is developing an engine block that enables users to move from “asset a” on “chain a” to “asset b” on “chain b.” The goal is to provide users with a “bring your own blockchain” type of relationship.

SushiSwap’s team also informed that the protocol is also adding Tines, a smart-order system that promises to provide users with the “cheapest swaps” with “maximum capital efficiency” in conjunction with the protocol’s new route processor.