Sushi, a leading decentralized exchange (DEX), has announced the launch of Sushi Labs, a new initiative designed to accelerate product development and enhance its offerings. This move follows the successful implementation of the Burū no Shinka proposal, which establishes a multi-token ecosystem for Sushi. They are making changes that will involve restructuring and focusing on building value for stakeholders.
According to SushiSwap’s official statement, the changes affect the Route Processor, a multi-token product suite, Susa, the DEXs Wara and Saru, Sushi Network, etc.
Is the SUSHI token a sell or a buy?
The SUSHI token has decreased from its highest point of $1.23 in the past month to $0.9621, marking a 19% drop over one week and approximately 4% today. Its market capitalization is currently at $259.53 million, situating it within the mid-cap range of cryptocurrencies.
Based on the current analysis, it seems that short-selling the SUSHI token would be more suitable than purchasing, although this assessment does not take into consideration the upcoming changes described below.
Sushi’s Route Processor serves as the exchange and aggregation engine, allowing access to liquidity from various sources to facilitate optimal swaps for users. The fifth version, currently undergoing an audit, is expected to enhance market usability.
The multi-token strategy is designed to maximize rewards and allocate product costs in order to tap into rapidly growing market sectors.
SushiSwap has launched DEXs such as Susa, Saru, and Wara. Susa, the first fully on-chain order book ETH-based DEX powered by Layer N, is set to offer a centralized exchange. Wara utilizes Solana’s fast and scalable blockchain infrastructure to provide a seamless trading experience.
In partnership with ApeChain, Saru aims to attract a wider user base and expand into high-growth markets.
The Sushi Network/Appchain initiative is focused on providing improved scalability and customization. SushiSwap has implemented a council structure to facilitate efficient resource management, which includes the Treasury Council, Grants Council, Sushi High Kitchen, and Ambassador Council. Each council is dedicated to a specific area to ensure the successful execution of the overall strategy.
SushiSwap will provide Sushi DAO with quarterly financial disclosures to enhance transparency.
SUSHI token price outlook
These important developments are anticipated to have a positive impact on the price of the SUSHI token. The cryptocurrency market is showing promise for the token, leading analysts to predict that the price might exceed its all-time high of $23.384, which was reached on Mar 13, 2021, in the upcoming bull run.
