Decentralized exchange (DEX) SushiSwap announced its expansion to Layer 1 Blockchain Aptos. The move to Aptos marks the first time Sushi will be available on a Bblockchain that is not compatible with the Ethereum Virtual Machine (EVM). According to DefiLlama, it was previously launched on leading altcoin Ethereum, Arbitrum, BNB Chain and others.
SushiSwap aims to leverage Aptos’ technology
As the decentralized ecosystem evolves, it is likely that multiple blockchains will coexist. Therefore, DEXs are constantly trying to bring liquidity to large Blockchain networks. In an announcement on Monday, SushiSwap announced that it has expanded to the Aptos Blockchain. Meanwhile, cryptocoin.com As you follow from , DEX also expanded to Coinbase’s Base network last month. Aptos announced the development as follows:
At Aptos, we strongly believe in the potential of Web3 to provide real opportunities for real people, whether it means greater access to services or more ownership over creative output.
1/ @SushiSwap is MOVE-ing up to a greater cross-chain experience with Aptos. #SushiRollsWithAptos
Sushi, the leading multi-chain DEX, will soon expand to Aptos, their first non-EVM chain.
Learn more 👇 pic.twitter.com/ENWzqm4MgN
— Aptos (@Aptos_Network) September 11, 2023
What will the collaboration bring for altcoin projects?
SushiSwap is widely available on many Ethereum Virtual Machine (EVM) compatible Blockchain networks. However, with its expansion, Aptos has now adjusted its footprint to a non-EVM Blockchain. For Aptos, the move paves the way for new capital as it looks to rival other non-EVM blockchains like Solana and Osmosis.
Aptos’ Move programming language caught SushiSwap’s attention to launch its v2 Automated Market Maker (AMM) on the Layer 1 protocol. Additionally, DEX says it plans further integration with Aptos. Here’s how he explains the SushiSwap Move:
Designed for smart contracts, the Move programming language enables developers to create applications simply, securely and quickly.
Aptos tries to win back its core developers
However, according to data from Token Terminal, Aptos’ core developers have decreased by 35% in the last 365 days. But the bright side is that core developers have increased by 9.8% in the last 90 days. Thus, the altcoin project is trying to regain the 2022 highs. As of Sunday, there are 67 core developers on the Aptos network. Token Terminal core developers describe it as:
Number of unique GitHub users who have made 1+ commits to the project’s public GitHub repositories in the last 30 days.
Aptos daily kernel developers. Source Token TerminalBoth altcoin prices are on their way down!
The announcement had no upward impact on SUSHI or APT price action. Because, parallel to the decline in the general market, the prices of two altcoins also decreased. By the way, Aptos has a tokn un-lock event tomorrow. This caused it to lose more value than SUSHI. The price of SUSHI has decreased by approximately 3% in the last 24 hours. However, APT lost 3.87% of its value.
SUSHI and APT price.
