In the present scenario, digitalization has paved the way for decentralized finance from traditional finance. Passionate entrepreneurs want to revolve around the future of finance. Sushiswap is one of the popular defi exchanges in recent times.
SushiSwap
Sushiswap is a popular DEX platform launched in August 2020 with the idea of Uniswap exchange. It aims to provide permissionless, limitless transactions over secured blockchain platforms with the help of smart contracts, AMM.
SUSHI token
The sushi native governance token is used in the sushiswap exchange. It provides the additional benefit of using the sushi tokens to get a fractional amount of transaction fees collected on the platform.
Types of Smart Contracts in Sushiswap
SushiToken: The token contract, with COMP/YAM voting procedure.
MasterChef: Deposit LPs tokens to farm SUSHI.
SushiMaker: Accumulate revenues, convert to SUSHI, and send to SushiBar.
SushiBar: Stake SUSHI to earn more SUSHI.
Migrator: Transfer MasterChef LP tokens of Uniswap to SushiSwap.
GovernorAlpha + Timelock: Governance stuff from Compound.
Vampire Attack
Before moving into the concept let us see how uniswap lp, in the uniswap exchange where the users submit their digital asset to the liquidity pools to get a reward as Lp token for liquidity provider. The liquidity pools where the users can get a loan and pay interest through smartcontract between the traders. The sushiswap founder planned to get liquidity by draining the liquidity of uniswap.
Shushiswap exchange offers additional benefits to the users like submitting their lp token from uniswap on the sushiswap liquidity pool will get the reward of the sushi token, and they were able to the fractional part of transaction fees collected at the sushiswap platform. This way liquidity pool of uniswap drained to the liquidity pool of sushiswap and attained their liquidity. This is known as a Vampire attack.
DeFi ecosystem is booming in recent times starting a DeFi platform like sushiwap would be a futuristic business plan. One can start a DeFi exchange with Sushiswap clone script instantly!
Sushiswap clone is a readymade script to start a defi exchange for trading with Automatic Market Maker, Liquidity pools, smart contracts that function similar to Sushiswap.
