Introducing Sashimi, a Fair Version of Sushi, with No Team Shares, No Pre-mine and a Cross Chain Swap Ecosystem!

Published in

aelf

4 min readSep 9, 2020

Following the release of AESwap, a decentralized trading platform and the first DeFi project on aelf network on August 28, aelf is launching SashimiSwap, its version of SushiSwap today!

What is SashimiSwap?

SashimiSwap is a new SushiSwap project developed by aelf. Like other types of swap products, it adopts the model of automatic market maker(AMM). However, SashimiSwap is not a fork of Sushiswap, thus the two do not share liquidity. Once launched, anyone can participate in staking and mining on SashimiSwap! As an “upgraded & simplified SUSHI”, SashimiSwap is very easy to get started with and offers a smooth mining experience and high yield.

SashimiSwap gives liquidity providers on UniSwap an opportunity to earn SASHIMI tokens. UniSwap’s liquidity providers can stake some of their LP tokens and start earning SASHIMI tokens at block height 10,833,000 (around 10:00 am on September 10, SGT). We use the same token allocation mechanism as Sushi, with a 10x bonus (end height 10,933,000) for the first 100,000 blocks, which means we’ll release 1,000 SASHIMI tokens in each of the first 100,000 blocks. After 100,000 blocks, each block will release 100 SASHIMI tokens.

And the most important part is…

In the early stage, the 10 liquidity pools that can participate in mining are: ETH-USDT, USDC-ETH, DAI-ETH, YFI-ETH, LEND-ETH, LINK-ETH, SNX-ETH, ELF-ETH, WBTC-ETH, SASHIMI-ETH.

Unlike SushiSwap, which distributes 10% of its funding each time to the founding team for development, future iterations, audits, etc. SashimiSwap did away with such “development funds”. SashimiSwap charges a 0.3% transaction fee, of which 0.25% will be used to reward users for adding liquidity. After the aelf mainnet is launched, the remaining 0.05% will be sent to SASHIMI DAO contract, which will all be used for community governance.

SashimiSwap is committed to creating a fairer and more transparent DEX platform. It is already connected to Uniswap and will be connected to AESwap soon. The aelf team will continue to focus on R & D, achieve asset swap between SashimiSwap and AESwap via CCTP and other ways, thus creating a permissionless and decentralized cross-chain DEX.

Aelf is committed to making SashimiSwap a fairer and more transparent DEX platform. Now we are connected to Uniswap, and we will connect it to AESwap soon. The aelf team will continue to focus on R & D, achieve asset swap between SashimiSwap and AESwap via CCTP and other ways, thus creating a permissionless and decentralized cross-chain DEX.

The mobile version of AESwap (Closed Beta) has completed phase 1 of feature development, and the internal testing is ongoing within the saelf governed community.

What features does AESwap provide?

1. Market makers can make profit by adding liquidity to trading pairs.

2. Allow market makers to create trading pairs.

3. Users can swap one token for another.

4. Users can withdraw their shares from the liquidity pool any time.

5. Users do not need to register an account. They can log in using the account of aelf Wallet, web wallet and aelf Explorer Extensions.

Learn how to use AESwap in this video: https://youtu.be/lVM5p1YTyig

After the mainnet launch, SashimiSwap and AESwap will be integrated. Users can swap and stake tokens on the aelf network, which can reduce gas fees and ease the issue of network congestion on Ethereum and prevent unexpected losses.

It’s pretty exciting to see decentralized and community-governed products like SashimiSwap which require no pre-mining, no investors, and no funds for the dev team. Various new fair launch products are considered as the future trend of DAO, as well as a new form of financing.

Missed Sushi? No worries, you are in for a Sashimi treat! Try out SashimiSwap now and give us your feedback!

SashimiSwap Website: https://sashimi.cool/farms

SashimiSwap Community (Telegram): https://t.me/SashimiSwap

SashimiSwap Community (Discord): https://discord.gg/mSEc2uv

Check out more related content 👇: