SushiSwap’s liquidity grab actually made Uniswap stronger — Data shows
Cointelegraph
Published Oct 01, 2020 09:12AM ET
Updated Oct 02, 2020 11:40AM ET
SushiSwap is widely thought to have syphoned liquidity from Uniswap but new data from Flipside Crypto, a cryptocurrency on-chain analytics resource, suggests that the decentralized exchange’s launch mechanism actually benefited Uniswap by bringing new money into its liquidity pools.
On Aug. 28, SushiSwap announced that it would launch its own decentralized exchange and many in the DeFi community referred to the project as a “vampire mining attack”. After forking from Uniswap, the most popular decentralized exchange in the space, SushiSwap created an incentive structure for users to switch to their protocol by issuing SUSHI tokens as rewards.
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Written By: Cointelegraph
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