Leading multi-chain decentralized exchange, SushiSwap, announced the expansion of its operations to the Linea network developed by blockchain software company Consensys.
According to a press release sent to CryptoPotato, Linea would become the 28th protocol, adding to the list of Ethereum Virtual Machine (EVM) compatible networks that Sushi has expanded to after its deployment on Polygon’s zero-knowledge EVM.
Consensys launched Linea in July for decentralized finance applications, non-fungible tokens, gaming, and social apps. The layer-2 network offers low gas fees, low latency, and high throughput, easily onboarding users and developers through integrations with other Web3 platforms like MetaMask.
Sushi claims to be the first and largest Ethereum-native decentralized exchange (DEX) to deploy on Linea, alongside its v3 automated market maker and built-in DEX aggregator. Linea users can now enjoy Sushi’s v3 liquidity provider experience with fellow consumers on 25 other chains.
Jared Grey, Head Chef at Sushi, said: “We’re excited to bring the proven and versatile functionality of Sushi’s v3 AMM and DEX aggregator to Linea’s high-performance layer. The Ethereum ecosystem has been our home, and this collaboration with Consensys enables us to broaden our scope while enriching the native Ethereum experience. By leveraging Linea’s low gas fees, we aim to redefine what’s possible in terms of speed, cost, and overall trading experience.”
Sushi further disclosed that it will work with automated liquidity management (ALM) firms like Gamma and DeFiEdge to reduce the risks of liquidity provision and apply several strategies to increase returns. The exchange revealed that Smart Pools, a v3 ALM solution by Steer Protocol, will soon become a native feature on its platform.
The DEX intends to leverage Linea’s lower gas fees to attract more trading activity on its platform, enhancing liquidity for developers in the ecosystem.
Sushi claims to be the first and largest Ethereum-native decentralized exchange (DEX) to deploy on Linea.”Consensys is pleased to welcome Sushi to the Linea network. This strategic partnership aligns with our goal of enhancing the ecosystem’s accessibility, efficiency, and security. Sushi’s integration on Linea will contribute to increasing our network’s liquidity and reinforcing its position as a high-performance, user-centric layer in the Ethereum landscape,” said Declan Fox, Consensys’ Product Lead for Linea.
With the Sushi DEX, users can swap tokens on Linea, provide liquidity to existing pools or create new ones, and bridge their assets from Ethereum to Linea through the network’s bridge.