{"id":165743,"date":"2021-01-29T06:55:25","date_gmt":"2021-01-29T03:55:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sushiswap-is-eating-into-uniswaps-market-share-following-yearn-merger\/"},"modified":"2021-01-29T06:55:25","modified_gmt":"2021-01-29T03:55:25","slug":"sushiswap-is-eating-into-uniswaps-market-share-following-yearn-merger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sushiswap-is-eating-into-uniswaps-market-share-following-yearn-merger\/","title":{"rendered":"# SushiSwap is eating into Uniswap\u2019s market share following Yearn merger"},"content":{"rendered":"

“# SushiSwap is eating into Uniswap\u2019s market share following Yearn merger <\/strong>”<\/p>\n

Following its merger into the Yearn ecosystem, SushiSwap has been making significant inroads into the market share of leading decentralized exchange Uniswap. <\/p>\n

On Jan. 29, Messari researcher Mira Christanto tweeted<\/a> data illustrating that Uniswap\u2019s share of the Automated Market Maker sector has declined as Sushi\u2019s share expanded from mid-December until last week. <\/p>\n

Relative market share of AMM Dexes: Messari<\/figcaption><\/figure>\n

Christanto asserts the Yearn merger has given Sushi a newfound legitimacy, allowing the project to move past criticism of the project that launched in August as a clone of Uniswap and secured TVL early on via a so-called \u201cvampire\u201d liquidity attack.<\/p>\n

In November, Sushi attracted further liquidity away from Uniswap by introducing yield farming rewards for pairings that had been previously incentivized by the leading DEX.<\/p>\n

Christanto states Sushiswap \u201chas put their past behind,\u201d with the platform now consistently driving between $2 billion and $2.5 billion in liquidity and weekly volume. The analyst noted that Sushi has no venture capital backing, is community-driven, and \u201cinnovates quickly,\u201d concluding<\/a>:<\/p>\n

“SushiSwap is evolving from being an exchange to include lending, franchised liquidity pools, cross-chain integrations and a launchpad. Under #Yearn ‘s ecosystem, it’ll benefit from new network effects.\u201d<\/p><\/blockquote>\n

Despite SushiSwap\u2019s app<\/a>arent success in attracting liquidity providers from its main rival, Uniswap remains very popular and the DEX accountsg for more than 60% of all unique addresses that have ever interacted with DeFi.<\/p>\n

While Sushi\u2019s $2.07 billion TVL equates to nearly two-thirds of Uniswap\u2019s $3.18 billion, Sushi\u2019s total cumulative user base is equal to only 8% of Uniswap\u2019s. However, Uniswap\u2019s first iteration launched in November 2018, meaning the platform had accrued a total user base of 225,000 before Sushi\u2019s launch.<\/p>\n<\/div>\n