Journalist
Posted:
- When the transfer is complete, developers would have access to better interoperability.
- Development activity on SushiSwap decreased, while DEX volume stabilized.
Automated market maker SushiSwap [SUSHI] has announced that it will migrate to the Aptus [APT] blockchain. The announcement, which was confirmed by Aptos in the early hours of September 11, would make Aptos the first Layer One (L1) non-EMV chain on Sushi.
How many Worth 1,10,100 SUSHI today?
SushiSwap has been active for a while Ethereum [ETH]. At some point, the decentralized exchange also expanded to Arbitration [ARB] and the BNB chain. The non-EVM feature therefore means that SushiSwap no longer requires continuous monitoring of Ethereum for the execution of smart contracts and related procedures.
Time to take the developments seriously?
The confirmation by Aptos noted that two SushiSwap products, namely the SushiXswap and Sushi v2 AMM, would be integrated on the blockchain. In explaining the purpose of the decision, Aptos’ rack read,
“Sushi v2 AMM and SushiXswap will be integrated into the Aptos network. The first-ever non-EVM integration with Aptos is key to advancing Sushi’s goals for cross-chain and multi-chain awareness.”
One reason SushiSwap was lured by the integration was the Aptos Move program. Unlike many other projects, Aptos uses Move to provide verifiable transaction-oriented calculations.
Aptos also said the integration would allow end-to-end developers and those of SushiSwap to access better interoperability. However, on the chain revealed that SushiSwap may need Aptos to revive the builders’ contribution to the project.
According to Santiment, development activity on SushiSwap has been reduced to 4.11. Typically, development activity, despite being an expensive resource, shows how serious a project is about its proposal.
Source: Santiment
High development activity implies excellent dedication to delivering new features or addressing existing problems. However, the chart above shows that developers’ commitment to upgrades on SushiSwap was not at the highest level.
Stuck addresses and more to come
For DEX volume, Santiment showed this increasing to $8.83 million. The increase indicates an increase in activity and token exchange on the protocol. Meanwhile, the SushiSwap network grow fell.
Network growth of a blockchain project indicates user acceptance. This is done by tracking the number of new addresses created on the network. When the metric increases, it means a project is gaining momentum. A decrease in statistics, such as with Sushi, implies a lack of transactions due to new addresses.
According to the 30 days active addresses, data in the chain showed that it had leveled off since the beginning of September. Active addresses indicate the level of daily interaction with a project. Therefore, the statistic, 3486, means the number different addresses participation in transfers on SushiSwap has been consistent for some time now.
Source: Santiment
Realistic or not, here it is SUSHI’s market capitalization in APT terms
Furthermore, Aptos revealed that the integration was just the beginning of much more. It noted that,
“Further integrations are coming soon, focusing on world-class UX and interoperability for Sushi and Aptos users and builders.”