Long Beach (CoinChapter): Decentralized exchange SushiSwap announced the launched of the highly-anticipated ‘Kashi’ app as part of its BentoBox product suite.
Kashi is the first margin trading platform build on BentoBox. It will allow users to borrow funds from the protocol to place bigger bets on the assets of their choice. It will also allow users to go short, or bet against, on previously inaccessible assets.
SushiSwap is a decentralized exchange which allows users to lend, swap, and trade assets via a non-custodian, trustless platform. All trades within the platform are matched via a smart contract. Users are able to ‘stake’ their tokens on the protocol in various trading pairs to earn ‘yield’. This is a cut of all the trading fees generated from other traders on the exchange.
BentoBox is a cryptocurrency token vault that generates yield from flash loans and other protocols built from the strategies of its framework. The vault itself serves as something of a decentralized ‘App Store’. Users can deposit assets to enable other Dapps, such as maximizing token yield generation through dual token usage.
The vault will also allow in-vault tokens to be used on other dApps within BentoBox product suite. This will result in avenues opening up for users such as earning yields on flash loans on Kashi. Users would also be able to earn interest in other DeFi protocol farms simultaneously.
Kashi upgrade a strong fundamental driver for SushiSwap
The Kashi upgrade is overall believed to be another strong fundamental driver for SushiSwap. It will integrate Chainlink price feeds to secure isolated token lending pairs.
It is the fifth-largest DeFi app in Total Value Locked according to DeFi Pulse with over $3.95 billion locked. Additionally, news of the launch helped to spur the price of SushiSwap native token SUSHI. The price rose more than 10%. Currently trading for $16 on CoinGecko with a market cap of over $2.2 billion..
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
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