DeFi exchange SushiSwap launches margin trading
DeFi exchange SushiSwap launches margin trading on ‚BentoBox‘
Bitcoin is resuming its bull run – and decentralised exchange SushiSwap has launched the highly anticipated ‚Kashi‘ app as part of its BentoBox suite of products, it was announced today. SushiSwap is one of the largest decentralised exchanges and brings Bitcoin Billionaire lower cost trading to its users. The DEX allows users to borrow, swap, and trade assets via a non-custodian, trustless platform where all trades are matched via a smart contract.
Users can „stake“ their tokens on the protocol in various trading pairs to earn „returns“ or a share of all trading fees generated by other traders on DEX.
Kashi is the first margin trading platform built on BentoBox and aims to allow users to borrow money from the protocol (i.e. use leverage) to place larger bets on the assets of their choice.
It aims to allow users to short or bet against previously inaccessible assets
According to the release, BentoBox is a cryptocurrency token vault that generates revenue from flash credits and other protocols based on the strategies of its framework.
The vault serves as a decentralised „app store“ where users can deposit assets to allow other dapps to maximise token revenue generation through duplicate token usage, for example – or to use tokens in the vault on other dApps within BentoBox.
This would, as a result, open up ways for users to earn returns on flash loans on Kashi while earning interest in other DeFi protocol farms, among other similar use cases.
SUSHI, the native token of SushiSwap, rose over 10% after the launch was announced. It is currently trading at $16 (according to market tool CoinGecko) and has a market cap of just over $2.2 billion (with a circulating supply of 139 million).
SushiSwap is now live on Binance Smart Chain (BSC, go here for Binance Coin Forecast to 2030), Fantom, Polygon, xDai Chain and Moonbeam Network, according to the project’s CTO Joseph Delong.
Meanwhile, the Kashi upgrade is another strong fundamental driver for SushiSwap. It is the fifth largest DeFi app by „total value locked“ at over $3.95 billion on tracking website DeFi Pulse.