Decentralized Exchange Sushi Expands to Aptos Blockchain

Sushi has more than seven times the amount of value locked than the entire Aptos blockchain.

AccessTimeIconSep 11, 2023 at 10:18 a.m. UTC

Sushi, one of the longest-running decentralized exchanges (DEX), has expanded its services to layer-1 blockchain Aptos.

The move to Aptos is the first time Sushi has been accessible on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM). It had previously been accessible on Ethereum, Arbitrum, Base, Polygon, Fantom, BNB Chain and others, according to DefiLlama.

  • What Do EigenLayer's Outflows of $2.3B Signal?
    00:57
    What Do EigenLayer's Outflows of $2.3B Signal?
  • What Do TradFi Crypto Moves Mean for Decentralization?
    04:20
    What Do TradFi Crypto Moves Mean for Decentralization?
  • Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
    02:02
    Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking
  • Ether Slides as Grayscale's ETHE Outflows Ramp Up
    00:53
    Ether Slides as Grayscale's ETHE Outflows Ramp Up
  • Sushi has $350 million in total value locked (TVL) on its platform, with $267 million of that being on Ethereum. At press time, Aptos has just $45 million in locked value, according to DefiLlama. Sushi's move to Aptos has the potential to pave the way for fresh capital inflows so that it can rival other non-EVM chains like Solana, Mixin and Osmosis.

    "This expansion to Aptos not only unlocks a new level of deep liquidity across major blockchain networks but also significantly elevates the cross-chain trading experience," Sushi said in a statement.

    Aptos was built by former Meta (META) employees. It rolled out its native APT token last year and despite it having a market cap of over $1 billion, the blockchain struggled to attract a significant portion of decentralized finance (DeFi) TVL.

    Edited by Sheldon Reback.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.


    Read more about