Decentralized finance space is expanding at a fast pace, and it is interesting to note that newer innovations are happening each day.
SushiSwap may soon be integrated on Solana Blockchain with Raydium DEX.
SushiSwap Forum Proposal Details Bonsai Project for Bringing SushiSwap on Solana
Solana powered decentralized exchange Raydium will likely integrate SushiSwap in its platform very soon. As per the news doing rounds the crypto circles, Raydium would be used as a bridge to onboard SushiSwap on the Solana network. For the unversed, Raydium is a platform that allows order books and is a near AMM built on the Solana Blockchain. As per the Bonsai Proposal shared in SushiSwap forums, the plan is to bring SushiSwap on Serum and Solana. The author has detailed that Raydium was developed to solve the problems like fragmented utility, extensive gas prices and absence of lack orders. The post also highlighted that Raydium could be used as a bridge to bring SushiSwap to the Solana network and increase the utility with Serum’s order book feature to support liquidity pools available in SushiSwap.
As the transaction fees on the Ethereum blockchain gets, higher major exchanges are considering various measures to mitigate the costs. Solana Blockchain provides a fair alternative to Ethereum, and Raydium AMM, which recently launched on Solana blockchain, may play a pivotal role in bringing SushiSwap on Solana. The proposal shared on the SushiSwap forum details that Raydium already provides support for the SushiSwap liquidity pool.
The poster Handrolls added, “We have been working on Raydium’ s AMM and liquidity pool protocols since the fall of 2020 and have just launched on our platform. Raydium’s protocol is already able to support SushiSwap liquidity pools for the Serum order book.”
In the proposal, Handrolls suggests that SushiSwap users could swap tokens and quickly manage their yield farms. There would also be a substantial reduction in the gas prices once SushiSwap is integrated on Solana. As per the SushiSwap team, the Bonsai project can be live on testnet soon within the first quarter of 2021.
The proposal further noted that with the support of Raydium, the SushiSwap community would be able to reach out to the expanding Serum and Solana community. The integration would also strengthen SushiSwap image as an innovator and leading force in the DeFi sector.
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