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What Is SushiSwap Crypto?
SushiSwap (SUSHI) is a fork of UniSwap, and a decentralized exchange (or DEX) built on the Ethereum network. It began operations in September 2020 and instantly became a hit, as its total value locked (TVL) hit $1 billion a few days after. SushiSwap attracted these funds by convincing its early liquidity providers to stake in UniSwap. After staking, they were to receive a high annual percentage yield incentivized in their native token. In two weeks, these stakes made their way back to Sushiswap, increasing the new protocol’s value. Its developers are two anonymous persons; Chef Nomi and OxMaki. SushiSwap allows users to trade cryptocurrencies without a central operator administrator.
It currently adopts the automated market-making (AMM) model for its decentralized exchange (DEX) protocol. This means that there is no order book on the protocol, as it facilitates cryptocurrency trading via smart contracts. Alternatively, the prices for the trading of these assets are determined via an algorithm. Being a fork of UniSwap, the project utilized the code of Uniswap and possessed similarities to that of the DeFi giants. Alternatively, some differences like native token and reward system exist between them. In Uniswap, liquidity providers stop earning rewards after they stop providing the liquidity. However, the case is not the same with SushiSwap, where liquidity providers continue to earn rewards. The native and governance token of the protocol is SUSHI.
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What is Celsius Network
Storing cryptocurrency funds in Celsius earns you interest on your holdings each week.
The premise is relatively simple:
- You deposit cryptocurrency into the Celsius app.
- The company then loans those funds out to retail and institutional borrowers.
- Every Monday, you receive a payment from the revenue that Celsius gains from those loans and other activities. The Celsius team boasts a return of 80% of company revenue to users.
The functionality of the app expands far beyond simple interest payments, though.
On the other side of lending, loans are available through Celsius, as well. By putting up cryptocurrency as collateral, you can take out cash (or stablecoin) loans at a range of different terms. Unlike most traditional loan services, Celsius loans don’t require a credit check and typically grant you an approval in minutes
Although Celsius Network isn’t a wallet, per se, it includes the ability to send and receive supported cryptocurrency through CelPay. CelPay doesn’t charge any transaction fees and enables you to send crypto via a link, message, or directly in-app.
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