Sushi Launches on Filecoin, Expanding Decentralized Exchange Services

blockchain.news:

Filecoin, the world's largest decentralized storage network, now welcomes Sushi, a prominent decentralized exchange (DEX), marking a pivotal development in decentralized storage and exchange services. Filecoin's unique approach to cloud storage, functioning as an open-source marketplace, protocol, and incentive layer, revolutionizes how data is stored, requested, and transferred. This technology, designed for securing valuable datasets, positions Filecoin as a formidable alternative to conventional cloud storage, offering an efficient, cost-effective, and decentralized solution.

Sushi's integration into Filecoin is a milestone, establishing it as the first DEX to operate on this network. This expansion includes the introduction of Sushi's version 2 and version 3 automated market makers (AMMs) with concentrated liquidity pools on the Filecoin network, facilitating direct trading and liquidity provision. Additionally, SushiXSwap, Sushi's cross-chain swap feature, extends to Filecoin, enabling seamless token swapping across Filecoin and over 30 other networks, including Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, and Avalanche. This integration eliminates the need for bridging or using native Filecoin tokens, simplifying user experience.

The Sushi-Filecoin partnership not only reinforces Sushi's leadership in the multi-chain and cross-chain arena but also invites users and developers to explore Filecoin's decentralized storage capabilities. This collaboration was made possible with the support of Laconic.com, providing crucial subgraph index hosting services.

The integration offers a variety of functionalities for users, including asset bridging from Ethereum to Filecoin using Axelar Bridge and Celer Bridge, token