SUSHI Coin Now Available On iTrust Capital

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Decentralized Finance is one of the hottest topics in all of fintech. Investors now have the ability to invest in SUSHI directly from their Crypto IRA / 401k with iTrustCapital.

Sushi is an ecosystem of multiple different applications that are all governed and owned by one single token - SUSHI.

What is SushiSwap?

SushiSwap is regarded as one of the most popular platforms within the cryptocurrency industry, and its tokens among the top 50 coins in the market. SushiSwap has a storied rise to the top that begins from its origins.

SushiSwap was developed by a group of anonymous developers led by Chef Nomi and is a fork (clone) of Uniswap. It serves as a decentralized exchange (DEX) that lets users exchange different cryptocurrencies and tokens. One of the reasons for its popularity is that it provided an improved version of Uniswap by adding features that benefited traders and investors.

Sushiswap provided an improved and evolved version of Uniswap by adding new features that provided benefits to traders and investors. It allowed users to earn native tokens called Sushi for providing liquidity on the exchange. Within a week of its launch, Sushiswap accumulated over $800 million in locked funds.

Its primary developer Chef Nomi caused controversy in 2020 when he withdrew $14 million worth of Sushi from the Sushiswap treasury and subsequently returned the amount. Since then, it has become a community-driven project and is one of the biggest DeFi projects on the Ethereum blockchain.

Top auditing firm PeckShield has audited its smart contract, and its code can be easily accessible by anyone via its Github and Medium platforms.

What is BentoBox?

SushiSwap has continued to evolve from initially starting as a DEX to building an extensive ecosystem. This new approach by Sushiswa has led to the creation of a unique concept called BentoBox.

BentoBox is a token vault that can support a multitude of Dapps within it. As we all know, decentralized apps offer unique possibilities in different sectors, from finance to health and more. BentoBox allows users to interact with many Dapps in a cost-effective system by using a mutual benefit vault.

Additionally, SushiSwap deploys a reward mechanism in BentoBox that generates yields for stakers. Stakers earn rewards from locking their tokens in the BentoBox via several yield generating tools integrated on the SushiSwap platform. BentoBox has already launched its first lending product Kashi and Miso, a decentralized launchpad. More Dapps are expected to be launched in the vault in the future.

What is SUSHI the token?

SUSHI is the native currency of Sushiswap and is an ERC-20 token issued to liquidity providers in the exchange. It is earned by providing liquidity to the various pools on the DEX. SUSHI also serves as the governance token enabling hodlers the right to vote for proposals and new development on the DEX.

The token is also designed to reward early users of the DEX by earning a percentage of Sushiswap fees after they have stopped providing liquidity to Pools. Holders also have exclusive right to cash flows within the Sushiswap ecosystem.

SUSHI was one of the first DEX tokens, and its success spurred Uniswap to release its native token, UNI. SUSHI was issued to token holders at a near-zero value on August 28, 2020. The coin initially rose to $12 within weeks of launch before dropping sharply in value in September. The 2021 bullish season saw SUSHI reach an all-time high of $22 in March but subsequently dropped to below $10.

SUSHI is currently ranked 72nd on the coin rankings according to CoinMarketCap and has a lifetime ROI of 135%.

Tax-Free Sushi

If you want to learn how you can potentially invest and trade SUSHI tax-free, head to www.iTrustCapital.com

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.