SushiSwap, a decentralized exchange operating on the Ethereum network, has unveiled its strategic plans to extend its presence to the Aptos Network. This expansion initiative aims to incorporate the Sushi v2 Automated Market Maker (AMM) and SushiXswap into Aptos, marking SushiSwap’s first integration with a non-Ethereum blockchain.
The move is pivotal in SushiSwap’s pursuit of establishing a more prominent presence in the world of cross-chain and multi-chain operations. Additionally, Aptos has outlined its intentions to enhance the user experience (UX) and foster collaboration between users and developers across both platforms.
Integration of Sushi v2 AMM Using Aptos’ Move Programming Language
To kickstart this expansion, SushiSwap is introducing its v2 Automated Market Maker (AMM) by harnessing Aptos’ Move programming language. Furthermore, this collaboration signifies a significant departure from SushiSwap’s traditional Ethereum-based operations.
Enabling Asset Accessibility Across Blockchain Networks
However, the overarching objective of SushiSwap’s integration with Aptos is to create a substantial pool of assets that can be seamlessly accessed across major blockchain networks.
Aptos, functioning as a layer-1 blockchain with backing from venture firm Andreessen Horowitz (a16z), has voiced its support for this deployment. Moreover, Aptos believes the potential of Web3 to provide broader access to services and increase ownership over creative output for users.
Security Incident and Compensation
Moreover, this development comes on the heels of a security incident that befell SushiSwap a few months ago, resulting in a loss of over $3 million worth of Ether assets due to a vulnerability in its approval contract. In response, SushiSwap announced its commitment to compensating the affected users for their losses.
Also, despite SushiSwap’s expansion plans, there has been no discernible positive impact on the native tokens of both platforms—SUSHI for SushiSwap and APT for Aptos—as of yet.
Read More:
Bitget introduces $100 million fund for investments in exchanges, data analytics, and media
Binance.US Challenges SEC’s Requests as ‘Unreasonable’