Sushiswap makes a smashing announcement on its blockchain!

Sushiswap has decided to undertake a tokenization project, launching a perpetual futures exchange on the Sei network in an effort to exert greater impact in ecosystems beyond Ethereum. This blockchain-based decentralized trading application aims to achieve two objectives with the exchange launch: to allow Sushiswap to explore avenues beyond decentralized finance and to cultivate its ecosystem while generating new sources of revenue.

Sushiswap aims to launch a project on the Sei Network At a press conference in Miami, Jared Gray, the "Head of Chief" of Sushiswap, admitted that his platform was working on a revolutionary project, the launch of a perpetual futures exchange on the Sei Network. In his own words, it would be "a new piece for us." Jared Gray also emphasized that a contract to this effect had been signed.

The head of Sushiswap also acknowledged that he was working closely on the project with the new layer 1 blockchain, which focuses on decentralized trading applications. It is a win-win partnership, as Sushiswap wants to benefit from the Sei network and in return bring added value to enhance its brand image.

By aligning with Sei Network, Sushiswap is choosing to focus solely on ecosystems that do not rely on Ethereum, let alone DeFi. As a reminder, Sushiswap recently implemented a governance proposal to restructure its tokenomics. The exchange's goal is to first increase the value of its native token and, if possible, generate additional revenue for the protocol.

Sei Network can leverage the Cosmos ecosystem, of which it is a member, to create bespoke chains for specific applications. In conclusion, perpetual contracts are a rapidly growing sector, now ranked eighth in combined locked value.

Conclusion

Sushiswap's tokenization project is about to become a reality. The exchange wants to try something other than decentralized finance and has chosen to collaborate with Sei Network, a network of the Cosmos ecosystem. This collaboration will enhance the exchange's token credibility, and more information will be available soon.

Brian Leclere