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Decentralized Exchange Sushi Expands to Aptos Blockchain
Sushi has more than seven times the amount of value locked than the entire Aptos blockchain.
Updated Sep 11, 2023, 10:18 a.m. Published Sep 11, 2023, 10:18 a.m.
Sushi, one of the longest-running decentralized exchanges (DEX), has expanded its services to layer-1 blockchain Aptos.
The move to Aptos is the first time Sushi has been accessible on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM). It had previously been accessible on Ethereum, Arbitrum, Base, Polygon, Fantom, BNB Chain and others, according to DefiLlama.
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Sushi has $350 million in total value locked (TVL) on its platform, with $267 million of that being on Ethereum. At press time, Aptos has just $45 million in locked value, according to DefiLlama. Sushi's move to Aptos has the potential to pave the way for fresh capital inflows so that it can rival other non-EVM chains like Solana, Mixin and Osmosis.
"This expansion to Aptos not only unlocks a new level of deep liquidity across major blockchain networks but also significantly elevates the cross-chain trading experience," Sushi said in a statement.
Aptos was built by former Meta (META) employees. It rolled out its native APT token last year and despite it having a market cap of over $1 billion, the blockchain struggled to attract a significant portion of decentralized finance (DeFi) TVL.
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