Sushi Expands to First Non-EVM Blockchain

Overview

SushiSwap, the well-known decentralized exchange (DEX), will soon deploy its platform on the Aptos blockchain, marking its first integration with a non-EVM (Ethereum Virtual Machine) compatible blockchain.

Announcement and Significance

SushiSwap V2 will soon be available on the Aptos network, as announced in their latest update. This move is significant as it represents Sushi's first foray into a blockchain that does not operate on the EVM.

A representative from Sushi stated:

"Incorporating Aptos today is Sushi's first venture into a non-EVM chain. This is crucial for advancing Sushi's cross-chain and multi-chain objectives."

Currently, Sushi operates on several major EVM-compatible chains such as Ethereum, Fantom, Polygon, Arbitrum, and BNB Chain.

Background and Future Plans

Sushi has been relatively quiet recently, following significant financial losses and a concerning financial position last year. As part of their 2023 strategy, Sushi is focusing on launching their derivatives exchange, Vortex, on the Sei Network.

About Aptos

Aptos is recognized as the revival of Meta's (formerly Facebook) Diem blockchain. The project gained significant attention towards the end of last year. Similar to Sui, another project involving former Meta employees, Aptos utilizes the Move programming language

Following a massive airdrop, Aptos has successfully raised $350 million. The platform has seen substantial user growth recently, partly due to its integration with the Indian social media platform Chingari. In early August, Aptos Labs also announced a partnership to integrate Microsoft's AI infrastructure.

Implications

This expansion into the Aptos blockchain signifies SushiSwap's commitment to broadening its reach and enhancing cross-chain capabilities. Integrating with a non-EVM blockchain like Aptos opens up new opportunities for Sushi and its users, potentially attracting a broader audience and facilitating more diverse trading options.

Future Prospects

By diversifying its blockchain integrations, SushiSwap aims to position itself as a leading DEX in the rapidly evolving decentralized finance (DeFi) space. The partnership with Aptos is just one step in a broader strategy to support multiple chains and enhance the overall DeFi ecosystem.

This move underscores SushiSwap's adaptability and forward-thinking approach in the DeFi sector. By leveraging the unique capabilities of the Aptos blockchain, SushiSwap is set to provide its users with enhanced functionality and more robust trading options.