According to CEO Jared Grey, Sushi, a prominent decentralized finance (DeFi) platform, is working on the process of an upcoming acquisition.
Grey suggested that significant changes are imminent in the automated market maker (AMM) and perpetuals (perps) sectors of the decentralized exchange (DEX) space, even though the specifics of the upcoming acquisition have yet to be disclosed.
Sushi to Enhance DeFi Innovation Through Upcoming Acquisition
The acquisition is anticipated to establish the foundation for introducing new DeFi tools and features, according to Grey, in the update shared via an X thread. The platform is confident that these features, which will primarily concentrate on enhancing automated trading, will enable it to become a much more significant force in the DeFi sector.
SushiSwap anticipates that the acquisition will significantly improve its ability to compete directly with top-tier DEXes and aggregators.
Grey also provided some intriguing updates regarding Sushi. The CEO observed that the project has exhibited exceptional performance in several critical areas. The statement is partially composed of the following:
“Let me say this loudly: Sushi is now the most distributed aggregator in the industry. Our tests show we’re beating the top aggregators on competitive networks on vital metrics like price, gas, latency, etc.”
Additionally, Grey observed that the platform’s aggregation volume has been increasing consistently monthly. He observed that this metric should be sufficient to demonstrate the extent of Sushi’s growth and success.
Nevertheless, Grey asserts that individuals continue to concentrate on Sushi’s Total Value Locked (TVL), a metric many in the DeFi community already consider outdated, rather than on the company’s relatively consistent growth in all other areas.
Future Plans and Growing Success
Grey asserts that Sushi’s sophisticated aggregation system is mainly unparalleled and has provided the most exceptional swap experience across all major networks. He claims this gives users a more comprehensive view of token inventory and competitive APYs for liquidity providers (LPs).
He also observed that the platform has experienced a 100% year-over-year increase in its user base. The accomplishment is yet another illustration of its expanding scope and increasing significance.
Sushi intends to introduce novel DeFi innovations to the market through the forthcoming acquisition. As previously mentioned, these tools will concentrate on the AMM and perps sectors, potentially positioning Sushi as a leader in the DeFi sector.
Grey has stated that the complete acquisition details will be disclosed shortly. Therefore, it is anticipated that additional information regarding the innovative features will be forthcoming.
In the interim, Grey has encouraged builders and protocols interested in collaborating with Sushi to contact him. He allows them to integrate with their API to facilitate further development and integration.