SushiSwap, one of the most successful protocols in the DeFi ecosystem, has joined Avalanche Rush, Avalanche’s liquidity mining incentive program to boost the growth of its DeFi ecosystem.
Via Twitter, Avalanche developers announced the integration of SushiSwap into their liquidity mining incentive program, called Avalanche Rush.
SushiSwap, currently one of the most successful decentralized finance protocols in the digital ecosystem, has allocated $7,5 million in liquidity mining incentives for a period of 3 months. The resources will take the form of rewards in SUSHI, the native token of the DeFi protocol, the developers reported. Likewise, the Avalanche Foundation has allocated the same amount of money for incentives in the form of rewards in AVAX, Avalanche's native token. The developers indicate that in the coming days they will announce the dates on which the incentives will be activated within the protocol.
The addition of SushiSwap to Avalanche Rush will provide operators with DeFi access to a new set of products with high-yield farming rewards and near-instant completion, the developers announced via a release.
The Avalanche Rush Liquidity Mining Incentive Program was introduced in the middle of this month as a mechanism to attract and motivate high-profile DeFi protocols to join the Avalanche network. The goal of the Avalanche Foundation is to incentivize the entry and development of innovative DeFi applications and solutions that take advantage of the scalability and potential offered by this network. blockchain, while also helping to increase its usability and value. The Avalanche Foundation also wants to encourage compatibility between DeFi protocols that join its incentive program.
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SushiSwap on Avalanche
In one year on the market, SushiSwap has climbed in popularity to become one of the most successful protocols in DeFi and the crypto industry. At the time of writing, this DEX and AMM has more than 4.360 million in liquidity; in addition, it is the second protocol in the decentralized financial ecosystem by trading volume, moving an average of $2.200 billion a week and $325 million a day, according to data from Dune Analytics.
Part of this growth has been made possible by its focus on multi-chain strategy which has led the protocol to expand into an additional 19 blockchain networks Ethereum. SushiSwap developers have been building a robust multi-chain ecosystem to bring the protocol and its SUSHI token to the masses. In this important journey, Avalanche is playing a pivotal role. In March of this year, SushiSwap announced its integration into the Avalanche blockchain network, allowing its users to make transactions much faster and more economically. Avalanche is capable of processing up to 4.500 transactions per second (TPS), a capacity 300 times larger than that of Ethereum currently.
More performance and efficiency
On the other hand, SushiSwap announced the launch of Trident, the protocol’s next-generation AMM, focused on capital efficiency and protection against crypto volatility. To achieve this, Trident uses powerful, yet intuitive and easy-to-use tools to provide DeFi with a new protocol standard with improved features and properties.
As explained by the developers, Trident brings with it a large number of innovations and improvements that will provide the Avalanche ecosystem with new and interesting features and capabilities to maximize performance and efficiency.
Strengthening Avalanche’s DeFi ecosystem
Avalanche Rush brings together a total of $180 million in incentives and rewards, making it one of the highest-value liquidity mining rewards programs launched in the industry. With these resources, Avalanche aims to boost the growth of its decentralized finance ecosystem and offer a more optimal and satisfying user experience to DeFi participants.
Avalanche is an open-source blockchain network built on the Avalanche consensus protocol. proof of stake (PoS), which means it can offer a high level of scalability and performance, allowing the creation and execution of more complex smart contracts without sacrificing security. The foundations and advances of this blockchain network make Avalanche one of the most promising projects in the crypto industry today, which can become an easily accessible and low-cost global network, driving massive blockchain adoption.
At the time of this edition, AVAX is trading at a value of $55,17 per unit, showing a growth of almost 400% in the last month.
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